The critical service that assures customers to drive their vehicles without stress and lead a normal life with assurance is packaged as a product and service on the E-commerce platform. Insurance is offered by many private companies and government subsidiaries, there are many players in the market, but the game changer is that these schemes are listed by aggregators and the policy is renewed and bought by customers. The solution to insurance seeking is made so simple that people renew and buy within a few minutes, this is the technological revolution that E-commerce has created and customers have started to like these types of services.

The insurance market in India is projected to reach a market size (gross written premium) of US$ 200 billion in 2024. Life insurance projected a market volume of US$105.70bn in 2024. The average spending per capita in the insurance market is estimated to be US$146.10 in 2024. In India, the insurance market is expected to reach US$ 250 billion by 2026. India is the 10th largest life Insurance market globally and is the 4th largest general insurance market in Asia and the 14th largest globally.

The biggest market size of a business category can create an urge in every entrepreneur and attract them to venture into some kind of business initiative underneath it, but the bigger the market, the more complexities it offers. The student entrepreneur should know these complexities and get accustomed to every kind of challenge it creates.

On Case Studies

Reflection is a critical step in understanding case studies. Once the narrative has been dissected and key factors identified, analysts must consider the broader implications. What lessons can be learned from the case? How can these insights be applied to similar or different contexts? For instance, a case study about a company’s successful product launch might reveal transferable strategies for market research, innovation, or customer engagement. NXTWAT breaks down complex systems on the factors that brought success to the Insurance category within the e-commerce segment, by thoroughly de-engineering and evaluating successful companies like PolicyBazaar, Acko General Insurance, Digit Insurance, Amazon Pay, Flipkart Insurance, an all-new perspective is presented for the clarity, understanding, and implementation of students and learners.