G.V. Nageswara Rao, CEO of IDBI Federal Life Insurance Company, said, “Normally, group single premium policies consist of group gratuity and super annuity (pension) plans. This year, there was an overall trend of positive appraisals and salary hikes that pushed the employer contribution to such policies. Considering the same trend to follow next year, we expect this segment to grow consistently.” P. Nandagopal, CEO of IndiaFirst Life Insurance Company quoted, “Bancassurance channel (banks selling insurance products) helps insurance companies to cater to a vast number of corporate clients who are in need of group regular premium policies such as term insurance policies. Group insurance business has a high potential of growth if the insurer provides good and efficient service to their customers.”

Despite the immense potential of Group Insurance, quite a few organizations have either steered clear of this or have made very limited investments. Some of them include - Bharti Axa Life Insurance, Edelweiss Tokio Life Insurance, DLF Pramerica Life Insurance and Aegon Religare Life Insurance. These joint venture firms are funded by Non-banking Financial Companies.