“A Study on Impact of Covid-19 On Insurance Industry with Reference to Ernakulam City”

Abstract: The insurance industry has experienced significant growth, providing policyholders with risk management and financial security through various insurance policies. These policies, including life, health, motor, freight, fire, and home insurance, offer protection against unforeseen events. The pandemic has transformed the industry, pushing insurers to adapt their strategies. Despite facing challenges, insurers played a crucial role during the pandemic and benefited from increased awareness about insurance importance. As a result, insurance adoption surged, with a 30-40% increase in health and life insurance policy purchases. This growth has brought new challenges, prompting insurers to innovate and meet evolving customer expectations. This study aims to analyze the growth of the insurance industry in Ernakulam city, focusing on health, life, and motor insurance, and understanding policyholders' experiences and motivations for opting for insurance products during the pandemic.