Published Paper Details:

Insurance industry provides enormous opportunities to the domestic as well as foreign investors. India has a great potential in this sector. This industry contributes a huge amount to country�s GDP and economic development. This remarkable development in the insurance sector attracted foreign investors in India also. This present study considered two important factors insurance density and insurance penetration. For analyzing the data last 15 years� (2004-2018) insurance density and penetration of life, non-life and industry sector have been considered and different statistical tools have been used to judge the relationship between industry insurance sector with life and non-life insurance sector, significance difference between life and non-life insurance sector, breakpoint during this study period, normality of data, heteroscedasticity and auto-correlation between the 2 models. For this researchers used Multiple Linear Regression Model, ANOVA, Bai-Perron and Residual test. This study also identified the future scope of research and constructive conclusion a feasible recommendation for growth of the industry.