Mumbai, June 17 -- Indian companies have been significantly impacted by the West Asia war, and immediate concerns for domestic insurers are inflation and supply chain disruptions, given the likelihood of increased risk values or catastrophes.

Even as India remains "significantly under-insured", recent government measures, such as allowing 100% foreign direct investment (FDI) into the sector, will help bring more insurers into the country and create additional capacity, C, told Mint in an interview. Edited excerpts.

The current state of the global insurance market is soft, implying that prices have been declining and coverage has been increasing, except for select segments such as motor and aviation. We expect this correction to last 1-1...