As we move towards the Union Budget, conversations naturally centre on growth, capital and investment. These are essential but sustainable progress depends just as much on protection. A single hospitalisation pushing a family into debt, a shopkeeper losing stock in a flood, a small factory shutting after a cyclone, or an accident victim waiting years for compensation; these incidents quietly weaken economic momentum and confidence.

India has already shown how transformative policy design can be in sectors such as digital payments, identity, taxation and health. Insurance can be the next major catalyst. Yet, according to Insurance Regulatory and Development Authority of India’s annual report, overall insurance penetration in India is only 3.7 percent, far below the global average of 7 perc

See Full Page