One of the discerning features of the post privatization of the sector is the emergence of multiple but regulated distributed channels, distinct from only Agents and Employees developing in the business during the prior nationalized sector.

Brokers and Corporate Agents (including Bancassurance models) have established their credentials as Insurance Intermediaries. The Authority has also enabled several distribution channels such as common service centres of Govt. of India, Insurance Marketing firms, Banks as Brokers, an open architecture for Agents and Corporate Agents. These channels of distributions would increase insurance awareness and penetration in the semi-urban and rural areas of the country.

Source: Council Compilation as per source
data submitted by companies

Chart 3.3.3Growth in GDPI split by Distribution Channel

Source: Council Compilation as per source
data submitted by companies

Note: Corporate Agents share in the above charts includes business through Bancassurance channels

For the year 2020-21, share of premium sourced through direct channels has decreased to 34.4 %. The share of premium via Individual Agents has increased marginally to 27%, Corporate Agency share has decreased to about 9.7% and share of premium via Brokers has increased to 28.8%.