EMERGING PERFORMANCE OF INDIAN INSURANCE INDUSTRY ON POST ECONOMIC LIBERALIZATION IN INSURANCE SECTOR

The basic aim of this Paper is to bring the readers, insurance professionals, insured and general public, the emerging performance of Indian Insurance Industry on Post Economic Liberalisation in the Insurance Industry between 2002 to 2014. This paper will focus on how the Insurance Regulator performs his duties by bring various regulations for better level playing of the individual insurers and also to offer various services to insured as well as to protect their interest. Even though the insurance companies shows tremendous growth during 2002 ? 2015 due to liberalization and opening of insurance sector for private players, but I feel, the industry has not touched the benchmark due to various reasons which includes rate cutting due to stiff and unhealthy competitions, statutory norms and management of claims. At the end I analyzed the probable reasons for not growing the insurance industry as expected and also given suggestion to improve the premium and reduce the claims which will help the insurance companies to earn the profit from the Underwriting Income because none of the General Insurance companies has earned a single rupee as underwriting profit particularly the Government owned general insurance companies. They are showing profit of their business due to adding of income earned through their investment