General Insurance Council Launches Rs 300 Crore Campaign to Boost Coverage

The General Insurance Council, the industry's umbrella organization, has unveiled a significant campaign worth Rs 300 crore to enhance insurance penetration in India over the next three years.

With over three dozen industry players involved, the campaign—titled 'Accha Kiya Insurance Liya'—aims to transform public perception of insurance from a reluctant expense into a vital financial safeguard. This move mirrors the mutual fund industry's strategy that successfully expanded its awareness and investment influx.

According to Shanai Ghosh, managing director and CEO of Zuno General Insurance, the campaign will involve a sustained investment of over Rs 100 crore annually. GIC Chairman Tapan Singhel emphasized addressing the gap between awareness and action, leveraging a survey revealing motor insurance as the leading purchase at 34%, while home, travel, and crop insurance remain underrepresented.

(With inputs from agencies.)