Insurance penetration in India remains low despite the rapid growth of the real estate sector, with non-life insurance penetration at less than 1%, V.N. Speaking at a session moderated by Kunal Shankar, Deputy Business Editor, The Hindu, Mr. Sandeep said, “General insurance penetration is only 1%. Over 200 productsMr. Sandeep said United India Insurance, headquartered in Chennai, offered more than 200 retail and commercial insurance products, including home, cyber, health, event and wedding insurance. Drawing a distinction between insurance and e-commerce purchases, Mr. Sandeep said insurance “should not be purchased” like products on Amazon or Flipkart. He said United India Insurance had also introduced parametric insurance, under which payouts were linked to predefined weather parameters rather than physical damage.