Mumbai, 12th March 2024: Howden Insurance Broker India is proud to announce that it has been awarded the prestigious Insurance Broker of the Year Award at the India Insurance Summit & Awards 2024, held at The Lalit, Mumbai on March 6th & 7th, 2024. The summit, organized by Synnex Group, was a two-day event that brought together industry innovators and experts to delve into the future of the digital insurance industry in India.
The India Insurance Summit & Awards 2024 serves as a pivotal platform for stakeholders to converge and navigate the evolving landscape of India’s insurance sector.
As per a report by Swiss Re, India ranks as the 10th largest insurance market globally and with the notably increased share of global premiums in recent years it is expected to be the sixth largest market by 2032. The next two decades are going to redefine the Indian insurance market with ‘Insurance for All’ by 2047, at the helm of all business plans. By 2034, the Indian insurance industry will be worth $450 billion, 50% of which will be broker-driven. This puts the general insurance industry at a whopping $50 billion market, which currently stands at $10 billion!
The 2024 Summit featured an engaging program comprising insightful presentations, interactive virtual sessions, and practitioner-led panel debates. The insurance market in India is undergoing significant transformation, propelled by technological advancements, changing consumer preferences, and regulatory reforms. As the country transitions towards a digital economy, there is a growing need for the application of technology across various facets of the insurance business. Insurance brokers play a pivotal role in bridging the gap between insurers and customers by offering tailored solutions, expert advice, and personalized services.
Mr. Amit Agarwal, CEO of Howden Insurance Broker India, expressed his gratitude for the prestigious recognition, stating, “We are deeply honored to receive the Insurance Broker Company of the Year award at the India Insurance Summit & Awards 2024. This accolade reaffirms our unwavering commitment to delivering innovative solutions and unparalleled service to our clients.”
Howden Insurance Broker India remains dedicated to driving positive change within the insurance industry, empowering clients to navigate risks and seize opportunities in this evolving landscape.