Why Not Mint Money India’s Insurance Gap: Generali Central Life’s Vision for Protection
Jan 7, 2026
Alok Rungta, MD and CEO of Generali Central Life Insurance, brings his extensive experience in life insurance to discuss India’s insurance gap. He sheds light on why many Indians procrastinate purchasing insurance and often choose inadequate coverage. Alok emphasizes the need for insurers to frame protection as income continuity rather than just policies. He advocates for tapping into untapped markets in tier two and three cities, promoting women agents, and leveraging AI for personalized customer engagement. Discover how a shift in strategy can provide real financial protection.
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Low Penetration Is A Temporary Blip
- India’s life insurance penetration is just 2.8% of GDP, leaving millions financially vulnerable.
- Alok Rungta calls the recent decline a temporary blip while awareness and income rise unevenly across regions.
Buying Late And Buying Too Little
- Indians often buy life cover in their late 30s and choose only 5–6x multiples, which is inadequate.
- Rungta warns this late, low cover leaves families exposed during crucial earning years.
Describe Policies As Income Continuity
- Explain protection products as income continuity and lifestyle replacement, not technical terms.
- Use plain language to show how a critical illness payout supports post-treatment living and lost earnings.