💨 Abstract

McKinsey's report suggests that expanding insurance coverage in India could save $10 billion annually and stimulate economic growth, as a significant portion of citizens and assets remain uninsured. The report argues that insurance offers financial security and can redirect saved funds towards developmental projects. The report also notes that comprehensive life insurance coverage could alleviate the government's burden of providing benefits to families affected by accidents and unforeseen events.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖