Insurance Revolution: India’s General Insurers Pledge ₹100 Crore a Year to Make Every Citizen Say ‘Accha Kiya Insurance Liya!

India’s general insurance industry is embarking on its largest-ever public awareness campaign, pledging to invest ₹100 crore annually over the next 3–5 years to deepen insurance penetration across the country. Backed by the General Insurance Council and regulatory support, the campaign—titled “Accha Kiya Insurance Liya”—aims to bridge the significant gap between insurance availability and its actual uptake, which currently stands at just 1% of GDP, far below the global average of 3.3%.

 

Industry leaders highlight that while insurance quietly cushions millions during crises—2.69 crore families benefited from health claims worth ₹83,000 crore last year—public perception still lags, with insurance often viewed as a reluctant expense rather than a financial shield. The campaign draws inspiration from the mutual fund industry’s successful “Mutual Fund Sahi Hai” initiative and will use data-driven outreach, digital infrastructure, and relatable messaging to reach India’s vast and diverse population.

 

Motor insurance remains the most purchased product, but home, travel, and crop insurance are underutilized. The campaign seeks to change this by making insurance more accessible and relatable, especially for vulnerable groups like MSMEs, whose underinsurance can drag down GDP growth after disasters.

 

With over three dozen insurers participating, the initiative is expected to transform public attitudes, boost coverage, and help India move toward a more resilient financial future.

 

Source: Economic Times, Business Standard, Rediff Money, Devdiscourse