Page 34 - Life Insurance Today July - December 2020

Figure: 2 Graphical Representation of Penetration (in Percentage)

Source: Computation by the researchers with the help of Annual Report of IRDA, 2018-19

In figure 1 and 2, 10 years insurance density and penetration have been represented by using line chart to identify the
upward and downward movement of these two variables for last 10 years.

Table: 2 Growth Percentages of Industry Insurance Density and Penetration in India

Year Industry
Density (USD) Growth Percentages Penetration Growth Percentages
of Density (%) (Percentage) Penetration (%)
2009 54.30 --- 5.20 -
2010 64.40 18.6 5.10 -1.92
2011 59.00 -8.39 4.10 -19.60
2012 53.20 -9.83 3.96 -3.41
2013 52.00 -2.26 3.90 -1.52
2014 55.00 5.77 3.30 -15.38
2015 54.70 -0.55 3.44 4.24
2016 59.70 9.14 3.49 1.45
2017 73.00 22.28 3.69 5.73

2018 74.00 1.37 3.70 0.27
Source: Computation by the researchers with the help of Annual Report of IRDA, 2018-19

Above table 2 shows the industry scenario for this given years. In this table only industry value has been considered as
because industry value is dependent on life and non-life insurance. So, industry value for both variables treated as dependent

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34 July - December 2020 Life Insurance Today