Higher Possibility to Purchase Insurance in Tier-2, 3 Cities After Covid Outbreak

Indians are showing a growing degree of propensity to acquire insurance products, especially in tier-2 and tier-3 cities, according to a report. At 89%, the highest number of respondents willing to renew their health cover participate in tier-2 cities, as compared to 77% from tier-1. Similar trends were observed in term insurance, where 59% of respondents who wish to increase their coverage participate in tier-3 cities, in comparison with 26% from tier-1 cities.

The survey results evidently point towards the sense of urgency spurred by the pandemic regarding insurance awareness across the country.

The survey was conducted by Policy bazaar, an online insurance marketplaces, to understand the changing consumer sentiment towards insurance purchase, household finances and investments during the last 2 yrs of the pandemic.



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