A key characteristic of the sector following liberalization is the rise of multiple regulated distribution channels, differing from the previous reliance on agents and employees in the nationalized era. 

Brokers and corporate agents, including bancassurance models, have established their roles as insurance intermediaries. Additionally, the regulatory authority has supported a range of distribution channels, such as government common service centers, insurance marketing firms, banks operating as brokers, and micro insurance agents. These distribution channels aim to boost insurance awareness and penetration, particularly in semi-urban and rural areas across the country.

Source: Council Compilation as per source
data submitted by companies

In the current fiscal year 2024-25, the brokers accounted for 38% of the total premium share, thus highlighting their important role as an insurance intermediary.

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.