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Insurance industry contributes to the financial sector of Indian economy and also provides an important social security net in developing countries. The growth of the insurance sector in India has been phenomenal over last few decades. The insurance industry has undergone a massive change over last few years and the metamorphosis has been noteworthy. There are 24 private and public sector life insurance companies in India as on 31.03.2017 from which many of them have become synonymous with thedoi:10.5281/zenodo.1039339 fatcat:jkltgxrxgjan7o5hhakjvvbgpa