Skip to main navigation

Insurance - Ernst & Young - India

Transforming risks into rewards

The opening of this sector for private players has put the insurance industry in a high growth mode. With the Indian Government taking steps towards increasing foreign equity stake, the insurance sector will witness severe competition in the near future. With the passing of the bill on ‘bancassurance’ in 2000, banks are also entering this area, which will no doubt intensify the competition.

With a view to enhancing market share and profitability, this sector is witnessing the entry of several sophisticated and innovative financial products. All these developments significantly increase the role of actuaries and also pose considerable challenges in the discharge of their responsibilities. Some recent developments in reforms for Pension & De-tariffing and liberalisation of FDI will boost the industry to grow and assist players to increase penetration in the market.

In such an environment, Ernst & Young India’s Insurance team is fully equipped to guide insurance companies on a comprehensive set of needs including actuarial, risk management, regulatory, transaction advisory, assurance and tax advice. The team is a hub of highly networked, experienced financial professionals dedicated to serving clients operating in the sector. Our aim is to help our clients address their complex issues facing their businesses and to share information and experience on current and emerging industry issues.

 

Lessons from change: the insurance industry

How do you manage through the recession and position your company for growth? Our insurance representatives and other sector leaders conducted over 1500 client meetings and identified some overarching themes. Sound risk management strategies, an extended market reach and improved business model could mean the difference between surviving and thriving.

Insurance industry: evolving dynamics

The report highlights the contribution of the Insurance industry to the Indian economy, need to increase financial inclusion and the role of various players, regulator, government and the intermediaries to boost further growth. Please contact us  for a copy.

Opportunities in adversity: accelerating the change for financial services organizations

In January 2009, Ernst & Young published Opportunities in Adversity, where we looked at how management was dealing with the implications of the downturn, and gauged the outlook for the future. In the past six months, we have carried out interviews with 125 financial services organizations with revenues in excess of US$100 million, as part of a broader follow-up survey of some 30,000 managers across industries worldwide. The financial services findings inform our following assessment of the ways in which banks, asset managers and insurance institutions are reshaping and shoring up their businesses today. Click here to read more.

Insurance industry: key trends and perspectives

This EY-ICC report was released in Kolkata on 10 June 2009. The report aims to highlight the impact of current downturn to the Indian insurance industry with a focused view on various challenges and opportunities. Click here (pdf, 1.3mb)  to read more.

 

 

Young and evolving insurance industry in India

Get an insight into the structure, composition, trends and the best practices of the Indian insurance industry. Click here (pdf, 486.4kb)  to read more.

Contacts

Ashvin Parekh
Partner and National Leader,
Phone: +91 (22) 6628 6430

Hiresh Wadhwani
Partner and National Director,
Phone: +91 (22) 6665 5515

Samir Bali
Partner,
Business Advisory Services,
Phone: +91 (22) 6628 6440

Subscribe to EY publications 

Click here to subscribe to our Thought leadership publications, newsletters and reports.

Ernst & Young Online

Learn more
Learn more

Return to Login
 
Back to top