New Delhi, Oct. 28 -- India's insurance sector collected Rs.11.93 lakh crore in premiums and issued 41.84 crore policies in FY2024-25. As per the Insurance Regulatory and Development Authority of India (IRDAI) Annual Report 2024-2025, insurance penetration was 3.7% of GDP, including 2.7% for life insurance and 1% for non-life insurance.

These figures highlight the limited scale of the industry and the opportunity to extend financial protection to more people. Doing so will require insurers to reach customers efficiently, keep premiums low, process applications faster and maintain service across the life of a policy. Agentic AI could help perform tasks across these workflows under defined instructions and controls.

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