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Showing posts from September, 2026

Insurance for All by 2047: A Promise Now Carries a Deadline

In 2022, in an essay on this blog imagining India @ 100 , I let myself picture 2047 and did not much like what I saw. The country was larger and richer, yet also older and less healthy, weighed down by a rising burden of non-communicable disease and a protection gap that refused to close. I wrote then that insurance penetration had improved but still trailed its peers. I also noted that the regulator, taking a leaf from the Reserve Bank of India's book, had begun opening the sector to mutuals and cooperatives to reach those the market had overlooked. It was a thought experiment. What has changed since is that 2047 is no longer only my imagined horizon. It has become an official one. The Insurance Regulatory and Development Authority of India (IRDAI) has made an official mission of “Insurance for All by 2047”, placing it within the government's broader Viksit Bharat plan. The aim is for every citizen to have appropriate life, health, and property cover, for every enterprise to b...