Business of Uncertainties: An Afflict of COVID-19 on Indian Insurance
Keywords:COVID-19, insurance, economy, health insurance, business.
COVID-19 had far-reaching consequences for different economic sectors
around the world. While the impact was not standardised throughout, one
thing was consistent: every sector and region, including India and the Indian
insurance sector, faced challenges in adapting to the new normal. The insurance
industry provided both life and non-life or general insurance. COVID-19
had a mixed effect on the insurance industry. The effect of COVID-19 on the
insurance industry was not uniform; some products saw a significant increase
in business, while others saw a significant decrease. The aim of this research
is to examine and assess the overall effect of COVID-19 on the insurance
industry with emphasis on the steps to be taken to prepare the insurance
sector to deal with these types of the consequences in the future. Data from
the regulatory authority’s website is used to compile and analyse the findings
of the study.
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Business of Uncertainties: An Afflict of COVID-19 on Indian Insurance 211
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