New Delhi, Feb. 10 -- India's insurance sector is the 10th largest in the world, expected to be worth $170 billion by 2027. Driven by increased digitisation and awareness of the importance of insurance, the sector has grown at leaps and bounds since the pandemic. Still, only 18% of India's insurance-eligible population has cover, meaning there's ample scope for the sector to grow.

LIC is the unparalleled leader in this massive and fast-growing industry. Formed in 1956 and backed by the government, it currently houses policies with a combined sum-assured of Rs.60 trillion, has a share of more than 60% in new business premiums, 70% of individual insurance policies, almost 90% in group insurance policies, and Rs.55 trillion in assets under ...