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Life Insurance is one of the fastest growing and emerging markets in India.Insurance penetration in the country is low mainly in rural area.The Insurance industry has a significance contribution in socio-economic development.A mojority of the underprivileged & rural poor society is still not insured and untouched by the benefits of Life Insurance.There is a tremendous scope for developing insurance business in the rural areas where human life and income generating rural assets need more protection.IRDA has acknowledged various reforms and initiatives for the welfare of rural people its Micro-insurance especially designed to provide life insurance benefit to rural and economically backward class of the society.The present study is to examine the opportunities for insurers in the rural market and what would be new strategies to tap the highly underinsured rural area.It's also an attempt to understand consumer behavior in the insurance sector and identify challenges faced by insurance companies and how to overcome with those challenges.
T Muthuvijayan (Tue,) studied this question.