State Level Insurance Committee (SLIC) reconstituted to strengthen Insurance Awareness and Penetration efforts in Karnataka

Bengaluru, July 2, 2025: The lead insurers for Karnataka, Manipal Cigna Health Insurance, Reliance General Insurance, Canara HSBC Life Insurance, Credit Access Life Insurance, and Narayana Health Insurance, today reaffirmed their commitment to deepening insurance penetration and awareness for the state at the State-Level Insurance Committee (SLIC) Meeting held in Bengaluru. This initiative is in line with the Insurance Regulatory and Development Authority of India’s (IRDAI) State Insurance Plan and its vision towards “Insurance For All by 2047”.
 
The meeting brought together key stakeholders from the government, regulatory bodies, and insurance industry to review the progress made and chart a collaborative roadmap for enhancing insurance coverage across the state. Among the dignitaries present were Dr. Vishal R, Secretary to Government, Finance (Fiscal Reforms), Government of Karnataka, Shri Sunil Kurtkoti, Financial Advisor, Finance Department, Government of Karnataka, Shri Krishna Deshpande, Consultant, Finance Department, Government of Karnataka and Shri Inderjeet Singh, Secretary General, General Insurance Council.
 
Karnataka has consistently stood at the forefront of India’s economic development, and its contribution to the insurance sector is no exception. As the second-highest contributor to national insurance premiums and ranked 2nd in Gross Direct Premium Income (GDPI) in FY24, the state plays a pivotal role in driving inclusive financial protection. The collaborative efforts of all lead insurers through their initiatives enable the spreading of health insurance awareness and accessibility across the state, especially in Tier 2 and 3 cities.
 
Addressing the audience, Dr. Vishal R, Secretary to Government, Finance (Fiscal Reforms), Government of Karnataka, commended the efforts of insurers and congratulated them on the successful conduct of the second State-Level Insurance Coordination (SLIC) meeting. Highlighting the importance of insurance awareness, he called for greater synergy between SLIC, the State Level Bankers’ Committee (SLBC), and the District Level Bankers’ Committee (DLBC) to strengthen outreach. He also stressed the need to adopt government-backed schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) as the starting point for building awareness and driving insurance inclusion at the grassroots level.
 
Inderjeet Singh, Secretary General, General Insurance Council, recognized the industry’s sustained initiatives to spread insurance awareness and penetration across the state of Karnataka. He emphasized the importance of continued collaboration and support for the sector, particularly in facilitating timely access to data.  He reaffirmed the industry’s commitment to working closely with the government to deepen insurance awareness, highlighting the launch of the ‘Achha Kiya Insurance Liya’ campaign, a key step towards deepening insurance penetration and strengthening financial protection for all.