Business of Uncertainties: An Afflict of COVID-19 on Indian Insurance

Authors

  • Anjali Arora Department of Mathematics, Lovely Professional University, Phagwara, India
  • Geeta Arora Department of Mathematics, Lovely Professional University, Phagwara, India

DOI:

https://doi.org/10.13052/jgeu0975-1416.926

Keywords:

COVID-19, insurance, economy, health insurance, business.

Abstract

COVID-19 had far-reaching consequences for different economic sectors
around the world. While the impact was not standardised throughout, one
thing was consistent: every sector and region, including India and the Indian
insurance sector, faced challenges in adapting to the new normal. The insurance
industry provided both life and non-life or general insurance. COVID-19
had a mixed effect on the insurance industry. The effect of COVID-19 on the
insurance industry was not uniform; some products saw a significant increase
in business, while others saw a significant decrease. The aim of this research
is to examine and assess the overall effect of COVID-19 on the insurance
industry with emphasis on the steps to be taken to prepare the insurance
sector to deal with these types of the consequences in the future. Data from
the regulatory authority’s website is used to compile and analyse the findings
of the study.

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Author Biographies

Anjali Arora, Department of Mathematics, Lovely Professional University, Phagwara, India

Anjali is a student of post-graduation in Statistics and Data Analytics at
Lovely Professional University, Punjab, India. She has completed her graduation
in Mathematics (Hons) with 71.8% marks from BR Ambedkar Bihar
University and Post-Graduation with 8.72 CGPA from LPU

Geeta Arora, Department of Mathematics, Lovely Professional University, Phagwara, India

Geeta Arora is an Associate Professor in the Department of Mathematics
at Lovely Professional University, Punjab, India. She has her M.Sc. degree
in Mathematics from Gurukul University, Haridwar and Ph.D. degree in
Mathematics from the IIT Roorkee, India. She has over nine years of teaching
experience and has published around 30 research papers with eight book
chapters in both international and national Journals. Her area of research is
development of numerical methods and is currently working in the field of
Statistics.

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Business of Uncertainties: An Afflict of COVID-19 on Indian Insurance 211

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Published

2021-09-17

How to Cite

Arora, A., & Arora, G. (2021). Business of Uncertainties: An Afflict of COVID-19 on Indian Insurance. Journal of Graphic Era University, 9(2), 195–214. https://doi.org/10.13052/jgeu0975-1416.926

Issue

2021: Vol 9 Iss 2 2021

Section

Articles