The service industry in India has experienced robust growth, becoming a major contributor to the country's economy. Key sectors within the service industry include IT and IT-enabled services, telecommunications, banking and finance, healthcare, tourism, hospitality etc. India has emerged as a global hub for outsourcing, particularly in areas such as software development, customer support, and business process outsourcing (BPO). Factors driving this growth include a large, skilled & english-speaking workforce, cost advantages, advancements in technology, and increasing demand from both domestic and international markets.
The services sector accounts for 54% of India's Gross Value Added (GVA). The services sector made a remarkable recovery in the fiscal year 2022-23, posting a Year-on-Year (YoY) growth rate of 8.4%.
The importance of insurance should never be undermined in Service Sector. Insurance plays a vital shield against unforeseen circumstances.
The survey and loss assessment of risks such as Property damage, Liability, Business Interruption etc. covered under various policies, are handled by us for Service Industries including (but not limited to) IT Services, Financial Services, Hospitality & Tourism, Healthcare Services, Education Services, Transportation, Logistics Services etc.
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