General insurance market Size in India | Regional & Policy Trends 2025

Q: What is the projected market size of the general insurance industry by 2031 in USD?

The general insurance market is expected to reach over USD 4.5 trillion by 2031.

Q: What is the expected CAGR of the general insurance market from 2024 to 2031?

The market is anticipated to grow at a CAGR of approximately 6.5% during this period.

Q: Which factors are driving the growth of the general insurance industry?

Key drivers include rising digital adoption, increased risk awareness, and supportive regulations.

Q: Which sectors are most dominant within the general insurance market?

Health, motor, property, and travel insurance lead the general insurance segments globally.

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Code: MTA4588

Publication Date: Jun 2025

What is the India General insurance market size and growth rate?

According to 6Wresearch internal database and industry insights, the India General insurance market is expected to register a CAGR of 6.5% during the forecast period.

The general insurance market covers non-life insurance products, including health, motor, property, and travel insurance, are included in the general insurance market. The sector's expansion is being driven by the necessity for regulatory support, risk management, and increasing consumer awareness. The global market landscape is being transformed by the emergence of tech-enabled distribution channels and the increasing digitisation.

Growth Factors of the India General insurance Market

Increasing risk awareness
Government mandates and regulations
Expanding middle-class population
Growth in digital insurance platforms
Rising healthcare costs
Climate-related risks and natural disasters
Vehicle sales growth
Technological innovations in underwriting and claims

India General insurance Market Trends

The market is currently experiencing a significant increase in the number of online insurance platforms and the implementation of AI to expedite the processing of claims and the assessment of risks. Customised and usage-based insurance products are becoming increasingly popular among consumers. Additionally, there is an increasing emphasis on environmental and catastrophe insurance coverage, particularly in light of the escalating frequency of natural disasters and the alteration of climate patterns.

Emerging Developments in India General insurance Market

The consumer of this market is mainly ai-driven consumer engagement solutions and in-surtech collaborations are gaining momentum. Secure claim settlements and fraud detection are currently being evaluated using blockchain technology. Embedded insurance is being implemented across retail and travel platforms, while insurance companies are also incorporating predictive analytics to enhance risk management and provide highly personalised coverage.