Investor Presentaiton
Protection opportunity: Low penetration
Sum Assured as a % of GDP1,2
332%
Addressable population*
coverage³ (%)
12%
Protection gap(%) 4,5
83 61
55 54 76
71
74
55
16.50
252% 251%
153% 143%
127%
Singapore*
Japan*
USA*
Malaysia*
Thailand*
South Korea*
* Total sum assured
23%
India**
** Retail protection sum assured (company estimates)
ICICI PRUDENTIAL
LIFE INSURANCE
Covered by retail
protection policies
* Based on Income Tax Department
data for individuals (annual income >
* 250,000) and company estimates
USD trillic
illion
8.40
3.90
2.80
2.00
0.90
0.70 0.60
India
Japan
South Korea
Australia
Indonesia
Thailand
Malaysia
Singapore
50
As of FY2021 for India (GDP Source: National Statistics Office, protection sum assured source: company estimates)
As of FY2020 (for USA & Japan as of FY2018) Source: McKinsey estimates
Addressable population coverage= Inforce no. of lives for retail protection/No. of returns with income > * 250,000
Protection gap (%): Ratio of protection lacking/protection needed
1.
2.
3.
4.
5.
Source: Swiss Re, Closing Asia's mortality protection gap, 2020View entire presentation