What is the scope in Insurance Sector?

manpreet Best Answer 2 years ago

Scope in insurance is very bright but it may take time, say 5-6 years. It's still untapped sector in India and has a huge potential for growth.

manpreet 2 years ago

Potential for career development in insurance sector is most vibrant topic today. One Million plus persons are working today as an employees in Insurance sector and 5 Million plus persons are associated with this sector as Agents, Consultants, Surveyors, Loss Assessors, Underwriters, Claim Settlers, Salvage Dealers, Brokers ,etc etc. The growth rate in Insurance Sector is more than 20% in last 3 years. There is huge potential for development in Insurance sector. The sector is under developed and penetration of insurance is very very low in the country compared to other developing and developed countries. India is leading towards one of the strongest economy of the world by 2020 and it is international phenomenon that insurance sector always booms along with growing economy. Insurance Services are the foundation for smooth functioning of all business & commercial activities. Insurance is the backbone of overall economy of the country. For the developing country like India where growth of the economy is at double digit rate, Insurance talent is inevitable. All Industries in this scenario can be monetarily well protected from all types of catastrophic and man made risks. Insurance is a vehicle for growth in growing economies. The whole world is looking at India as one of the giant and Asian tiger in next 8 to 10 years.