Insurance penetration is measured as
[amp_mcq option1=”the ratio of insurance premium to population” option2=”the percentage of insurance premium to GDP” option3=”the percentage of insurance premium to per capita income” option4=”the ratio of insurance premium to market capitalization” correct=”option2″]
This question was previously asked in
UPSC CBI DSP LDCE – 2023
– It is calculated as the ratio of total insurance premium underwritten in a given year to the Gross Domestic Product (GDP) of the country in the same year, expressed as a percentage. This indicates how much of the country’s economic output is spent on insurance premiums.