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India can save USD 10 bln annually: McKinsey report
The Business Guardian
|November 18, 2024
India could potentially save about USD 10 billion annually by expanding insurance penetration to those people and assets that are still uninsured, according to a report by global consultancy management firm McKinsey.
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In a report put out by the agency after having a ground survey covering insurers and the people, they said Indian government could then redirect these saved funds to stimulate economic growth.
A significant portion of India's citizens and insurable assets remain uninsured, increasing the risks of high out-of-pocket expenses, placing a considerable burden on public finances.
Insurance provides dual benefits, offering financial coverage against exigencies and promoting long-term financial security.
Esta historia es de la edición November 18, 2024 de The Business Guardian.
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