Trend in Life Insurance Performance of Companies in India during Post Covid Era: An Empirical Analysis

The life insurance sector is a crucial component of the financial services business. It functions as a conduit for nations to mobilise long-term savings, enhance capital market development, improve capital allocation efficiency, supplement the intermediation role of financial institutions, and both substitute and augment government security initiatives (Skipper, 1997). The life insurance sector's significance transcends economic development; it provides substantial value to individuals and groups by delivering vital financial security for them and their families. Life insurance consists of two essential components: money accumulation and financial security. Capital accumulation strategies, exemplified by savings and investment schemes, enable policyholders to gradually enhance their wealth over a prolonged duration. Through consistent premium payments, consumers contribute to this insurance, while insurers generally invest these funds to yield profits. This paper presents a study in which the researcher assessed performance trends based on ten factors using a structured questionnaire administered to 150 respondents. The data were analysed through factor analysis and ANOVA to report company-specific changes, highlighting alterations in factors such as plans, grievances, and settlements.