India's insurance sector has seen significant regulatory reforms over the past year, including a fraud-prevention repository, AI-driven claims processing, and increased competition. The new insurance bill empowers the regulator to set commission limits, enhance disclosure, and increase penalties for violations, with fines potentially reaching ₹10 crore. These changes aim to rebuild trust and boost insurance adoption, which saw a slight dip. While non-life insurers experienced a rise in net incurred claims ratio, the reforms seek to address low insurance penetration and uneven social security coverage.