Life,Holistic Living: Delivering Superior Customer Experience
Low levels of penetration
1.7 mn
172 mn
68 mn
-
Life protection
83.0%
Protection gap 2 (2019)
76.0% 74.0% 71.0% 70.0%
Urban Working
Population
Addressable
Market
Annual Policy
Sales
(excl blue collared)
Only 1 out of 40 people (2.5%) who can
India
afford it, is buying a policy every year¹
24
17
Even within the current set, Sum Assured as
a multiple of Income is <1x
12
3. Kotak institutional equities
44
1. Goldman Sachs Report, March 2019
2. Swiss Re (Based on respective financial year of the countries)
Indonesia
Malaysia
Thailand
China
Japan
Singapore
61.0%
55.0% 55.0% 54.0%
41.0%
South Korea
Trend of retail loans 3 (Rs Tn.)
34
FY12
FY14
FY16
FY18
FY20
FY22
53
44
Australia
Hong Kong
■ India has the highest protection gap in
the region, as growth in savings and life
insurance coverage has lagged behind
economic and wage growth
■ Protection gap growth rate is predicted
to grow at 4% per annum
Retail credit has grown at a CAGR of
16% over last 10 years
Increasing retail indebtedness to spur
need for credit life products
Immense opportunity given:
Increasing adoption of credit
Enhancement of attachment rates
Improvement in value penetration
Widening lines of businesses
HDFC
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