India has population of 115 crores (1150 millions) Assuring family size of 5 this means that we have 230 million homes.
According to out estimate 2% of the homes are insured in India, which means that 46 million homes are insured.
If we take average premium at Rs. 2000/- per home then figure should be Rs. 920 crores. The truth is we are no where near it. We feel that figure of 2% is not the correct figure and the homes insured in India are 0.5% which means half of 1%.