State Level Insurance Committee (SLIC) reconstituted to strengthen Insurance Awareness and Penetration efforts
FinTech BizNews Service
Mumbai, July 2, 2025: The lead insurers for Karnataka, ManipalCigna Health
Insurance, Reliance General Insurance, Canara HSBC Life Insurance, CreditAccess
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”.
This initiative is aligned with IRDAI’s State Insurance Plan and the broader vision of “Insurance for All by 2047,” with a focus on expanding access in Tier 2 and 3 cities.
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.
Shri 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.
