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RURAL MARKETING
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There has been increased insurance penetration due to a growing consumer class,
rising insurance awareness, and increasing domestic savings and investments. Pre-
mium income as a percentage of GDP has increased from 3.3 per cent in 2002–03 to
7.6 per cent in 2008–09. The entry of private-sector players has added diversity to the
product portfolio of the life insurance industry. At present there are 24 players, one
from the public sector (LIC) and 23 from the private sector. The Life Insurance Corpora-
tion of India (LIC) is the market leader with 71 per cent market share. Amongst private
players, ICICI Prudential, ...
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