Insurance penetration remains low despite growth in real estate sector, says expert
An expert from United India Insurance noted that insurance penetration in India remains low despite growth in the real estate sector. The discussion emphasized the need for greater public awareness and trust in insurance products, particularly regarding climate-related risks.
Why it matters
Low insurance penetration leaves the Indian public and infrastructure vulnerable to financial losses from unpredictable climate events.
Insurance penetration in India remains low despite the rapid growth of the real estate sector, with non-life insurance penetration at less than 1%, V.N. Sandeep, Deputy General Manager, United India Insurance Company Limited, said here on Thursday (July 30, 2026).
Speaking at a session moderated by Kunal Shankar, Deputy Business Editor, The Hindu , Mr. Sandeep said, “General insurance penetration is only 1%. And life insurance is hardly 2.7%.” He added that while insurance had “penetrated into the urban areas, especially when we talk about projects, big projects, infrastructure projects, or factories and plants”, awareness of home insurance remained low.
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