Volume : V, Issue : II, February - 2016

INDIAN INSURANCE SECTOR, INNOVATIONS AND SOCIAL IMPACT

M. Renuka Devi

Abstract :

 This paper seeks first and foremost to provide a more detailed understanding of the Consumer Protections, Primary Legislations and capabilities of the Indian Insurance sector , as well as an innovations made in insurance sectors. The role of insurance as a social impact is perhaps what first comes to mind when asked to think about its benefits. Indeed, by mitigating the effects of exogenous events over which we have no control—illness, accident, death, natural disasters—insurance allows individuals to recover from sudden misfortune by relieving or at least limiting the financial burden. In the case of health insurance, it could even mean the difference between life and death. Insurance, however, has a far wider and more profound impact than this initial perception, though its value to society derives from this primary function. The aggregate impact of insurance, therefore, is to level consumption patterns and contribute more widely to financial and social stability

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

M. RENUKA DEVI Indian Insurance Sector, Innovations and Social Impact International Journal of Scientific Research, Vol : 5, Issue : 2 February 2016

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