The Insurance Industry is one of the fastest-growing sectors in the BFSI Space. With the advent of COVID-19, Indians have realized the importance of Life and health insurance, this has resulted in a fresh undercurrent for the Indian Insurance Industry.
The Healthcare sector is currently witnessing double-digit inflation & can be a huge burden on any family, when resorting to self-funding, during times of any emergency. In fact, as a strategy in Financial Planning, downside protection of the wealth generated is a major responsibility of each investor through adequate Insurance coverage.
The Indian Insurance Industry is well-regulated by IRDA and the major reason for pricing transparency, adequate competition in the Industry, implementation of best practices, and a grievance redressal mechanism through the Insurance Ombudsman.
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The Registered Financial Prosperity Advisor (RFPA) program offered by the International College of Financial Planning is an integrated job-guarantee program eyeing this huge opportunity. This 4-month short-term program aims to recruit smart individuals who aim for a quick career growth opportunity. The program is structured into a one-month training followed by 3 months of internship at Bajaj Capital. In a mere 4 months, you will transform from being a job aspirant to an Insurance Professional.
In spite of such a sizeable opportunity available, the penetration levels of Insurance in India are feeble – Life Insurance is a mere 3% while health insurance (personal health cover) is only 4.2%. A massive opportunity/market lies untapped.
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SPEAKER
Sanjeev Sharma