Mumbai, Insurance companies in the country are facing mounting pressure on profitability due to intense price competition in standard products, rising distribution and operating costs, even as policy measures such as GST exemption on individual life and health policies are expected to support demand, according to a report.
"Margins are under pressure due to price competition in standard products and higher distribution and operating costs. To respond, insurers need to use capital with discipline, focus on strong underwriting, control costs and build scalable operations to sustain profitable growth," Deloitte India said in a report titled 'State of Financial Services in India'.
