Non-life insurance to play a bigger role in financial planning over the next 25 years: ICICI Lombard

Public trust in this product has strengthened significantly in the past decade, with four in five customers clearly understanding the difference between life and non-life insurance.

Top 5 reasons to choose a policy

A combination of the following top five factors dominate the selection of any policy among all respondents.

Gaining trust

Over the past 10 years, respondents’ overall trust in the non-life insurance industry has been improving.

Also read: Health insurance: 5 gaps in your policy that could leave you with a bigger bill at the time of claim

Future purchase intent*

Among the following non-life insurances, health shows the strongest demand for the future.

‘Insurance for all’ aim

How likely do respondents think that insurance coverage will reach all Indians by 2047?

Also read: Health insurance claim settlement: Which insurers are fastest at paying approved claims?

*Multiple responses allowed; Source: ICICI Lombard’s ‘Research on Potential of General Insurance in the Next 25 Years’ report, conducted by Hansa Research Group in May 2026. The pan-India survey was conducted among current users, (65%), past users (21%) and considerers (14%) of a general insurance policy. Respondents were between the ages of 18 and 60, across metro (61%) and non-metro (39%) cities, both male (68%) and female (32%).