ET Product of the Year Awards 2026: Recognising insurance products that customers trust

India's insurance industry is expanding, but making protection accessible, understandable and dependable remains an important challenge. Insurance penetration stood at 3.7% of GDP in FY2024–25, while the industry collected ₹11.93 lakh crore in premiums and paid ₹8.36 lakh crore in claims, according to Government of India data. The figures underline the scale of the sector and the need for insurance products that deliver value beyond policy sales.

Against this backdrop, the ET Product of the Year Awards 2026 recognises products that translate innovation into measurable customer value. The Insurance Product of the Year category focuses on innovations across life, health and general insurance, including digital-first offerings that improve how customers discover, purchase and use insurance products.

What the Insurance Product of the Year Category Recognises

The category covers insurance products and customer-facing innovations launched or materially upgraded during the eligibility window. It considers not just the product itself, but also the experience surrounding it, from purchasing a policy to accessing claims support.


Eligible entries can demonstrate innovation across three key areas:

• New insurance products: Life, health and general insurance offerings that address evolving customer needs through relevant coverage, product design or improved accessibility.
• Digital purchase and claims journeys: Digital experiences that simplify policy discovery, application, purchase, servicing or claims, making insurance easier to navigate.
• Distribution innovations: New approaches to reaching customers, improving access to insurance and enabling more effective product discovery and purchase.

Also Read: ET Product of the Year 2026: Recognising products built in India, taking the country ahead

To qualify, a product must be live and offered by a regulated insurer or its official platform. It must have been launched or materially upgraded within the specified eligibility window, with evidence demonstrating customer adoption and the purchase or claims experience delivered.

Digital platforms are creating new ways for customers to discover policies, compare coverage, complete purchases and access policy services. However, the value of these innovations ultimately depends on their execution. A streamlined application process becomes meaningful when it helps customers complete purchases with greater ease. Similarly, improvements in claims support matter when policyholders can navigate the process with greater clarity and less friction.

Also Read: The Economic Times Product of the Year Awards 2026: Recognising products that have already made their mark

The category places particular emphasis on real policy adoption and a claims or purchase experience that delivers on its promise. Evidence of customer uptake, improved accessibility, reduced friction and measurable outcomes can help demonstrate whether a product is addressing a genuine market need.

Through the ET Product of the Year Awards 2026, the Insurance Product of the Year category seeks to recognise innovations that combine product relevance with effective execution. The focus is on products that do more than introduce new features: they make insurance easier to access, simpler to navigate and more meaningful for the people who depend on it.

Nominate now