InsurTech models to help Indian insurance mkt hit $222 bn by FY26: Redseer

Insurance penetration in India is poised to grow rapidly, driven by the growing middle class and increasing digital penetration, which will help the insurance market reach a size close to $222 billion by FY26, according to a report released by consultancy firm, Redseer.

New online distribution models such as B2C, B2B and B2B2C are key drivers of growth, with B2C in particular, gaining significant opportunities.

“It is interesting to note that B2C brokers have significantly higher contribution margins than B2B2C brokers, while B2B2C scales faster through uberization of agents, it also has relatively poor unit economics (largely owing to high