It gives you a general and clear idea about how we can increase awareness of Insurance in the society and we can work with our mind for how we can take advantage of this unawareness in work place.

1. AWARENESS ABOUT
INSURANCE
#Teamwork

2. Insurance Awareness
in the past
15% of the population is protected by medical care
insurance coverage.
Less than 5% of the population buy a plan voluntarily of
their own accord.
Medical insurance is the fastest growing segment in
general insurance sector.
IRDA report 2011-12 - insurance penetration and
insurance density

3. • 1). Insurance Penetration - It is the
percentage of insurance premium to GDP.
Standing at just 0.7%, India is counted
among the countries with the lowest
insurance penetration.
• 2). Insurance Density - It is defined as the
ratio of premium to population.
• India stands merely at $10.0.

4. Present Scenario About The
Awareness Of Insurance.
It is 2018 and we talk about development, technology and
rocket science, but it is not yet mandatory to have health
insurance in India.
Insurance Regulatory and Development Authority (IRDA)
engaged the National Council of Applied Economic Research
(NCAER) to carry out a pan-India survey to assess the levels of
insurance awareness in the country. The survey was
undertaken in 29 states/union territories. The survey shows that
most of the insured are salaried, regular wage earners or self-
employed.

5. • The share of the Indian life insurance sector in the global
market was 2.45 per cent
• In the life insurance sector, the share of the private sector
in total premium income was approximately 30 per cent in
both 2008–09 and 2009–10.
• while LIC, which represents the public sector, registered a
growth of 19.69 per cent in 2009–10 over 2008–09, the
growth of the private sector was higher at 23.06 per cent
during this period
• In the non-life insurance industry, the share of the public
sector in gross direct premium income was approximately
59 per cent in both 2008–09 and 2009–10

6. Future awareness
• Only 27% of the people have health insurance in India. In
comparison to our mammoth population, this number is
undoubtedly low.
• Ayushman bharat- National Health Protection Mission
• Benefit cover of Rs 5 lakh per family per year
• More than 10 crore families to be covered
• Around 50 young persons from different villages in the
district attended the programme. Each person who
attends the awareness programme is likely to
educate at least 10 people about the scheme.

7. • The Indian insurance market is expected to
reach USD 250 billion industry by 2025, predicts
Confederation of Indian Industry (CII).

8. TYPE OF INSURANCE

9. LIFE INSURANCE
• Life insurance can help you support your family even after retirement.
Depending on what it covers, Life insurance can be classified into various
types:
Term Insurance -
• It is the most basic type of insurance.
• It covers you for a specific period.
• Your family gets a lump-sum amount in the case of your death.
• If, however, you survive the term, no money will be paid to you or your
family.
Whole Life Insurance-
• It covers you for a lifetime.
• Your family receives a certain sum of money after your death.
• They will also be entitled to a bonus that often accrues on such amount.
Endowment Policy-
• Like a term policy, it is also valid for a certain period.
• A lump-sum amount will be paid to your family in the event of your death.
• Unlike a term plan, you get the maturity proceeds after the term period.

10. Money-back Policy-
• A certain percentage of the sum assured will be paid to you
periodically throughout the term as survival benefit.
• After the expiry of the term, you get the balance amount as maturity
proceeds.
• Your family gets the entire sum assured in case of death during the
policy period. This is regardless of the survival benefit payments
made.
Unit-linked Insurance Plans (ULIPs)-
• Such products double up as investment tools.
• A part of your premium goes towards your insurance cover.
• The remaining amount is invested in Debt and Equity.
• A lump-sum amount will be paid to your family in the event of your
death.
Child Plan-
This ensures your child’s financial security.
• In the event of your death, your child gets a lump-sum amount.
• The insurer pays the premium amounts after your death.
• Your child will continue to get a certain sum of money at specific
intervals.

11. Pension Plan-
• This helps build your retirement fund.
• You can get a regular pension amount after
retirement.
• In the case of your death, your family can claim the
sum assured

12. Health Insurance
• This type of general insurance covers the cost of medical care. It
pays for or reimburses the amount you pay towards the treatment of
any injury or illness.
Motor Insurance
• Motor insurance is for your car or bike what health insurance is for
your health.
• It is a general insurance cover that offers financial protection to your
vehicles from loss due to accidents, damage, theft, fire or natural
calamities.
• You can also get motor insurance for your commercial vehicles.
• In India, you cannot drive or ride without motor insurance.
Travel insurance
• A travel insurance compensates you or pays for any financial
liabilities arising out of medical and non-medical emergencies during
your travel abroad or within the country.
• There are two types of Travel Insurance: Single trip and annual trip.

13. Home Insurance
• Home insurance is a cover that pays or compensates
you for damage to your home due to natural
calamities, man-made disasters or other threats.
• It covers liabilities due to fire, burglary, theft, flood,
earthquakes, and sabotage. It not only offers financial
protection to your home, but also takes care of the
valuables inside the property.
Fire Insurance
• Fire insurance pays or compensates for the damages
caused to your property or goods due to fire.
• It covers the replacement, reconstruction or repair
expenses of the insured property as well as the
surrounding structures.
• It also covers the damages caused to a third-party
property due to fire.

14. Recent Survey on Health
Insurance in India
• Universal Health Coverage (UHC) to all citizens by 2022.
• National Family Health Survey(NFHS-4) released by the
ministry of health and family welfare.
• The National family health survey reported that more than 55%
of households in India do not generally seek health care from
the public sector.

15. Awareness About Health Insurance
In USA and INDIA - Comparison
Mandatory/Optional
Health Cover
Employee Health Benefits
Premium Rate
State-Wise Differentiation

16. Why Are Indians Unaware
About Health Insurance
Condition of Health Insurance
National Sample Survey Organization(NSSO)
Knowledge of Simple steps
Existing Burdens of loans
Biggest Factor – Illiteracy
Growth of the private health sector

17. SIZE OF INSURANCE
SECTOR IN INDIA
• Biggest sector in the world with 360 million policies.
• Gross premiums written in India reached Rs 5.53 trillion (US$
94.48 billion) in FY18, with Rs 4.58 trillion (US$ 71.1 billion)
from life insurance and Rs 1.51 trillion (US$ 23.38 billion) from
non-life insurance. Overall insurance penetration (premiums as
% of GDP) in India reached 3.69 per cent in 2017 from 2.71
per cent in 2001.
• In FY19 (up to October 2018), premium from new life
insurance business increased 3.66 per cent year-on-year to Rs
1.09 trillion (US$ 15.46 billion). In FY19 (up to October 2018),
gross direct premiums of non-life insurers reached Rs 962.05
billion (US$ 13.71 billion), showing a year-on-year growth rate
of 12.40 per cent.

18. Indian insurance
analysis in 2018

19.  Strong demand
 Growing interest in insurance among people ,innovative products
and distribution channels aiding growth.
Increasing demand for insurance offshoring.
 Attractive opportunities
 Life insurance in low-income urban areas.
 Strong growth potential for micro-insurance, especially from rural
areas.
 Policy support
 Tax incentives on insurance products
 Passing of insurance bill gives IRDA flexibility to frame regulations.
 Clarity on rules for insurance IPOs would infuse liquidity in the
industry.
 Increasing investments
 Insurance sector companies in India have raised around Rs 434.3
billion through public issues in 2017.
 Increase in FDI limit to 49 percent from 26 percent ,approved in
2016 .

20. Need of Health Insurance
Past Survey
• Since the past few years, India has been
witnessing a staggering growth in the health
insurance sector.
• The number of people getting insured every
year is rising steadily.
• However, still only 15% of the population is
protected by medical care insurance coverage.

21. • This signify that the educated population is
well aware of the needs and benefits of
healthcare insurance.
• And that the need of proper education and
awareness programmes about medical
insurance goes down to the remotest villages
and suburban areas.

22. Need Of Health
Insurance

23.  In today's world, our life has become more
prone to health risks and thus getting a
coverage has become imperative.
• Reduces tensions and stress caused on
account of hospitalization.
• Greatly contributes in leading a stress-free
life.

24. • Taking a health insurance policy at a young
age ensures that you have greater coverage.
• It allow you to enjoy tax benefits for a longer
period of time.
• Buying a health insurance policy at a young
age not only gives you greater coverage but
also helps you plan your finances in a better
way.

25. Role Of Institute In The Process Of
Health Insurance Awareness And
Education
Making people understand about
raising cost of medical expenses
Enlighten people about the benefits
in monetary terms
Apollo Munich

26. How to make insurance awareness
campaign successful?
 Brands should launch health insurance campaigns that are mindful.
Ex- Take Apollo Munich’s health insurance plans page for example, more
brands need to follow suit and make sure that people’s questions on health
insurance are addressed timely.
 Enlightening people about the benefits of health insurance in monetary
terms, because making people understand about the policies in financial
terms would be a much better option. This will highlight the financial
benefits of actually opting for a health insurance.
 Making people understand about the rising costs of medical expenses, if
something miserable were to happen in a family. Also educating people
about the cover they would get through health insurance schemes.