부산대학교 도서관

The current research is aimed to study the indicators of post reform growth in insurance and its impact on economic development in India. Insurance penetration, insurance density, and gross domestic savings are the dominant measures to study the growth of insurance. Economic development is studied through Gross Domestic Product (GDP). The annual data of 22 years (year 2001 to 2022) from IRDA annual reports and economic surveys have been used. To analyse the data, ARDL technique has been employed. The findings of the study revealed that there is an existence of co-integration (both long-run and short-run) amongst the dependent (GDP) as well as independent variables (indicators of insurance). The findings of the current study have come up with the view that still in insurance, there is an ample scope to tap by creating more awareness and providing more benefits to the policyholders as the intention to purchase the policies may be enhanced. [ABSTRACT FROM AUTHOR]