• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

100 Pc FDI To Help Indian Insurance Sector Reach $222 Billion By 2026

OMMCOM NEWS by OMMCOM NEWS
February 19, 2025
in Business

New Delhi: The Indian insurance sector has witnessed impressive growth over the last two decades and the government’s allowance of 100 per cent foreign direct investment (FDI) in the sector would further accelerate growth, attracting significant foreign capital and boosting innovation, according to a new report.

India’s insurance sector has witnessed significant growth and development over the past few years.

The domestic insurance market has grown at a CAGR of 17 per cent over the last two decades and is expected to reach a size of $222 billion by 2026, according to a TeamLease Regtech report.

A typical single-entity insurance company with a corporate office in a single state needs to deal with 2,236 unique compliances. The annual compliance obligations rise to 4,638 once the frequency of compliances is factored in. The company must also obtain 38 licenses, permissions, and approvals under 27 acts.

According to Sandeep Agrawal, Co-founder and Director, TeamLease RegTech, the Indian insurance sector, driven by increased awareness, favorable regulatory changes, and enhanced private sector participation, has witnessed impressive growth over the last two decades.

“However, it is crucial to understand the complexities of compliance management that companies face in this space. Insurers operate within an exceptionally complex compliance framework, with a typical general insurer managing over 4,500 regulatory obligations annually, including critical requirements on solvency margins, anti-money laundering, and policyholder protection,” he elaborated.

Embracing compliance automation will be transformative for the industry, supporting the shift towards a cashless and paperless economy.

Automation will enable insurers to streamline operations and meet evolving compliance demands with greater efficiency, said the report.

The report concluded with recommendations for compliance reforms like a strong compliance culture led by company leadership, technology-driven solutions to automate compliance processes, and implementing data security measures to build customer trust.

Further, regulators should consider introducing a single-window licensing framework to simplify approvals for insurers, encouraging RegTech adoption, and creating a centralised digital repository for regulations allowing companies to focus on growth and innovation, said the report.

(IANS)

Tags: Foreign Direct Investment (FDI)
ShareTweetSendSharePinShareSend
Previous Post

Two Dead, Four Hospitalised In Sydney House Fire

Next Post

New CM Tomorrow At BJP’s ‘Viksit Delhi Pledge Ceremony’ In Ramlila Maidan

Related Posts

Business

Navi Mumbai Airport Is A Symbol Of Bharat’s Aspirations: Gautam Adani

October 8, 2025
Business

RBI Ready With Unified Market Interface: Governor

October 8, 2025
Business

SBI Working To Simplify KYC Process: Chairman CS Setty

October 8, 2025
Business

UPI Reaches 500 Million Consumers, 65 Million Merchants, Says Report

October 8, 2025
Business

Investor Participation Surges To 13.4 Crore In 5 Years: SEBI Chairman

October 8, 2025
Business

Sensex, Nifty End Lower After Volatile Trade; IT Stocks Shine

October 8, 2025
Next Post

New CM Tomorrow At BJP's 'Viksit Delhi Pledge Ceremony' In Ramlila Maidan

Three Men Arrested For Sexually Assaulting Odisha Woman In Tamil Nadu

Odisha Assembly Adjourned Till 4 PM Amid Protests Over Mission Shakti Restructuring

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.