Lewes, DE -- (SBWIRE) -- 05/04/2015 -- Report forecast the online life insurance market in India to grow at a CAGR of 25.36% over the period 2014-2019.

Life insurance policy is a contract between the insurer and the insured, under which for the premiums received, the insurer agrees to pay a sum of money based on the policy conditions. The insurance market in India is highly established. Digitization of insurance was, however, a late development in the country. Insurance policies are broadly classified as traditional and ULIPs. The advances in the internet infrastructure and the rising cost of insurance policies are the major factors that paved way for online life insurance. With public entities such as LIC entering the online insurance market, the credibility of online policies have strengthened. As a result, there have been increase sales as well as renewal of insurance policies via the online medium.

This report covers the present scenario and the growth prospects of the online life insurance market in India for the period 2015-2019. To calculate the market size, it considers the number of new life insurance policies sold through the online medium.

According to the report, India, the rise in internet penetration is one of several factors that drives the growth of the market. The increased online presence of the population has encouraged insurance providers to offer policies via the online medium that are increasingly being accessed through desktops and mobile devices.

Further, the report states that compliance with IRDA regulations and web aggregators pose a challenge to the market.

Online Life Insurance Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key players in Online Life Insurance Market in India 2015-2019: Bajaj Allianz General Insurance, Birla Sunlife Insurance, Life Insurance Corporation of India, New India Assurance, SBI Life Insurance and Tata AIG General Insurance

Other Prominent Vendors in the market are: AEGON Religare Life Insurance, Aviva Life Insurance, Bharti Axa Life Insurance, Exide Life Insurance, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, IDBI Federal Life Insurance, Kotak Mahindra Old Mutual Life Insurance, Max Life Insurance, Reliance Life Insurance and Star Union Dai-ichi Life Insurancee

Market driver
- Rise in internet penetration
- For a full, detailed list, view our report

Market challenge
- Compliances with IRDA regulations and web aggregators
- For a full, detailed list, view our report

Market trend
- Increase in consumer awareness
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 78 pages, "Online Life Insurance Market in India 2015-2019" report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, India: Overview, Market Landscape, Market Overview, Buying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.

For further information on this report, please visit- http://www.marketresearchreports.com/technavio/online-life-insurance-market-india-2015-2019

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