Are you happy with the way the insurance industry, both life and non-life, have evolved since liberalisation?
At the time of opening up, the idea was to ensure the client emerges a winner in the competitive regime. The introduction of several new products into the market that were earlier not known in the Indian insurance industry, the overall improvement in customer service, the progressive attention paid to customer grievances, are all an indication that the benefits of a competitive regime are being perceived. Business levels have also grown manifold, as compared to the base figures at the beginning of the liberalised environment. Further, the fact is that the recent financial turmoil that shook several economies globally did not have any direct major impact on the industry. This gives us the confidence that we are strong enough to weather such storms. There are a few issues that need addressing to assume higher standards, but there is every reason to be happy with the way we have progressed since the market was opened for private participation. What are the areas that you would like insure
