Country Profile - India : Indian insurance and its technological nuances
Source: Asia Insurance Review | Jan 2010
The insurance sector in India has been largely monopolised by state-run enterprises until 1999 when the sector was opened to private players, with limited foreign equity and with government role limited to regulation. Since then, more than 20 private players have jumped into what seems an endless opportunity. Mr Prabhakar Deshpande, Business Analyst, Mastek, and his colleagues, tell us that the Indian market is distinctly different from those of the developed world and that its technological needs are different too.
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