India Insurance Reform: Singh on FDI, AI, and PB Health

Full foreign ownership of domestic insurers will attract global capital, Singh said. That should spur competition and product innovation, especially in term life and health covers. PB Health, the company's foray into healthcare delivery, aims to bundle insurance with outpatient services, giving policyholders a reason to use their coverage beyond hospitalisation.

Retirement planning needs a bigger push, Singh said. He pointed to the lack of annuity products tailored to India's informal workforce. The biggest reforms, he added, will play out over the next five years. The sector is moving faster than it ever has, and the combination of regulatory opening and digital distribution is changing how Indians buy insurance.