New Delhi, June 28 -- On the occasion of Insurance Awareness Day, several insurance providers and experts in an exclusive conversation with ANI shared their insights on the challenges facing the insurance sector in India, especially in critical segments like health and life insurance.

The experts also offered suggestions to bridge the awareness and adoption gap.

One of the key challenges highlighted by industry leaders is the low insurance penetration in health and life segments, despite the growing need.

Health insurance, in particular, continues to be seen as optional by many, unlike motor insurance which is mandatory. The lack of awareness, limited financial literacy, and cultural mindset that "I won't fall sick" contribute to low a...