🔹 Insurance for All 2047: Some Curious Questions, Not Conclusions 🔹
As one of the old hands of of the insurance industry, I read the new paper reports on IIM Kozhikode paper/ report on Insurance for All with interest—and some curiosity.
Industry or regulator-commissioned reports typically offer system-level recommendations: market structure, distribution, capital, technology, trust. They rarely comment on restructuring, demergers, or capitalization of specific institutions. Against that backdrop, references to LIC and public sector general insurers feel unusual.
More puzzling is the logic of suggesting the breaking up of LIC—arguably a world-class institution and the “Pride of India”—at a time when policy thinking elsewhere favours consolidation to build global-scale financial institutions. If efficiency is the concern, current performance metrics show LIC broadly moving in line with industry trends.
A larger question remains: if demerger is the route to efficiency, would the same parameters apply to private insurers too? And in a technology-intensive future, does Insurance for All by 2047 not require strong, well-capitalised institutions capable of sustained investment in digital reach and capabilities?
Perhaps the debate we need is less about size, and more about governance, technology, distribution, and trust.
Curious to hear views: Does breaking scale really improve inclusion—or does scale enable it?
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