New Delhi, Jan. 27 -- For India to ensure consistent economic growth and achieve its ambitious target of becoming the third-largest economy by 2027, it needs robust financial systems in which the insurance sector plays a critical role. The sector's development is crucial to bridging protection gaps, enhancing financial resilience, and driving sustainable growth towards Amrit Kaal.

Insurance regulator IRDAI has set a target of 'insurance for all' by 2047, in which every citizen has appropriate life, health and property cover and every enterprise is supported by appropriate insurance solutions. To achieve this goal, IRDAI has introduced various initiatives, creating a supportive and a forward-looking regulatory architecture, leading to wid...