Measure insurance cover, not agents and premiums

It is now apparent that there is a broad swell of opinion that there are deep problems in the Indian insurance industry and in the interest of the public it needs to be fixed. All of us who have been vocal about this problem have largely focused on the high-cost and high commission investment products that the insurance companies are selling. However, there is another aspect to this, which relates to the quantity and quality of insurance that is being delivered to the customer.

More...