HDFC Life was established in 2000 and it is a pioneer of the private insurance industry in India. Having headquarters in Mumbai and 421 branches spread across India, HDFC life deals with insurance products for individuals and groups. With over 6 crores lives insured HDFC life is a highly trusted and renowned brand with a market capitalisation of Rs1,13,383 Crores and is listed on NSE. It distributes its products through a multi-channel network consisting of Insurance agents, bank partners, Direct channel, Insurance Brokers and an Online Insurance Platform.
The insurance industry has a penetration of 3.7% as GDP in India and the life insurance industry particularly is growing at a rate of approximately 12% and is expected to increase further.
However the industry is impacted deeply by the pandemic, we have analysed how it has dealt with it and what are the future prospects.
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