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The report states that digital insurance in the USA stands at 14% of the entire population, and 6% in China. In India, digital penetration in insurance stands at 2%, denoting significant headroom for growth in the years to come
Insurance penetration in India is poised to grow rapidly driven by the growing middle class and increasing digital penetration which will result in the insurance market reaching a size close to $222 billion by the fiscal year (FY) 2026, a report said on Friday. Insurance Market in India to Reach $222 Billion by FY26, Says Report.