The insurance business in India has reported significant growth following the GST rationalisation that took effect on September 22. Deepak Sood, a member of the Insurance Regulatory and Development Authority of India (Irdai), stated that the government’s decision to cut GST to zero has made insurance comparable to daily necessities. This change is expected to deepen coverage and make policies more affordable for consumers. Sood noted that both life insurance and retail health sectors have seen increased interest from the public. He urged the industry to focus on the number of lives covered rather than just the premium-to-GDP ratio, which is currently below the global average. Additionally, he called for the creation of insurance products that address risks from natural events and highlighted the issue of uninsured vehicles, which account for 55% of vehicles on Indian roads. Sood stressed the importance of digitisation in reducing distribution costs and ensuring transparency in the insurance sector.