/24-7PressRelease/ - Noida, Uttar Pradesh, India, June 23, 2008 - General Insurance has been a hot topic in India for quite some time now, as this industry is sky rocketing in terms of market value. India was introduced to the concept of insurance very late as compared to rest of the world, but has caught up very fast and with new branches of insurance opening up, this sector is expected to reach an all time high this year.
The general insurance sector rose at a rate of 13 percent last year, but according to the General Insurance Council of India, it is expected to grow at a massive rate of 18 percent this year. This is a remarkable growth and various factors have added on to achieve such impressive results.
The key driver for this growth would be health insurance which grew at 57 percent last year. This year, general insurance would add an extra 5 percent to the existing 13 percent growth rate of the sector. Other factors which added on to the growth was the deeper reach of insurance facilities to the rural India.
The value of general insurance sector in India is around Rs 29,000 crore and it is expected to cross Rs 35,000 by the end of this year. Ms Parul Dubey, the Co Founder and Business Development Head, PaisaWaisa.com, stated "General insurance has great untapped market in India, which needs to be cultivated carefully. This industry would be boosted by the emergence of Internet based portals facilitating the common man with insurance facilities."
PaisaWaisa, a flagship brand of online conglomerate Rupiz Infotech, is slowly spreading its arms in the vast landscape of Indian people, it is enabling the common man to deal in financial matters with greater clarity and simplicity, and is ready to set new trends in the Indian markets with its innovative approach and simplified solutions.
About Paisawaisa.com
Rupiz Infotech group, the driving force behind the impending foray of PaisaWaisa.com in the Indian market, is the name behind several companies having interests in various online business verticals like Telecommunications, Online Finance, Retail, VoIP Telephony, Media, Social networking, Gaming, etc. The principal companies involved in this umbrella group include ICallGlobe Ltd., Shakespeare Finance Ltd, Rupiz Compare Ltd. and Rupiz Media Ltd.
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