Widening Gender Gap in India's Financial Protection Levels – Axis Max Life India Protection Quotient 7.0
Key Findings:
Working women's Protection Quotient score remains at 48; working men's rises to 50
Women feel less financially secure across life goals like retirement, education, and marriage
Higher concern among women about inflation, healthcare costs, and loss of a breadwinner
Axis Max Life InsuranceLtd. ('Axis Max Life'/ 'Company'), formerly known as Max Life Insurance Company Ltd, in partnership with KANTAR, the world's leading marketing data and analytics company, has released gender-specific findings from the seventh edition of its India Protection Quotient (IPQ) study. Under the Company's 'Bharosa Talks' initiative, IPQ 7.0 highlights a widening gap in financial preparedness between working men and women in urban India.
Widening Gender Gap in India's Financial Protection Levels – Axis Max Life India Protection Quotient 7.0
According to the study, working men's Protection Quotient score rose to 50 (from 47 in IPQ 6.0), while working women's score remained stagnant at 48 indicating a break in last year's parity. Despite urban India's overall improvement in financial protection, working women continue to face unique anxieties across key life milestones such as retirement planning, children's education, and marriage. Additionally, women expressed higher levels of concern around inflation, medical emergencies, and loss of a breadwinner, further amplifying the need for gender-responsive financial planning and support frameworks.
Prashant Tripathy, CEO & Managing Director, Axis Max Life, said, 'As India progresses on its journey toward financial security, it is vital that we recognise the varied realities shaping people's protection needs. The IPQ 7.0 findings reveal that working women continue to face structural and emotional barriers to financial preparedness. This calls for not only greater awareness, but also collective effort across the industry to make protection more inclusive, accessible, and aligned to the evolving fabric of Indian society.'
Implications & Path Forward
The study underscores the need to embed gender-sensitivity across insurance design, advisory models, and education programs. From savings-led planning tools to customised advisory support, the industry must act with urgency to ensure India's women feel secure, seen, and protected.
About India Protection Quotient
Instituted in 2019, India Protection Quotient is an annual Survey by Axis Max Life Insurance in association with Kantar aimed to understand the pulse of the Indian consumers in the financial protection space. Launched with the underlying objective to increase penetration of Term insurance as the most fundamental and economical form of life insurance, the survey aims to reveal the state of Urban Indians with regards to current financial security levels, changing savings & investment patterns, key anxieties & triggers of financial protection in a contemporary world. India Protection Quotient is a proprietary tool developed by Axis Max Life in partnership with Kantar to gauges the degree to which Indians feel protected from future uncertainties on a scale of 0 to 100. It is based on the attitudes, mental preparedness around future uncertainties, awareness, and ownership of life insurance product categories (Term, endowment and ULIP).
Read more at – https://www.axismaxlife.com/maxlife-ipq
Disclaimer:
The study is conducted in top 25 Urban metro, Tier 1 and Tier 2 cities; hence, its findings are representative of metro, Tier 1 and Tier 2 cities of Urban India only.
Metro – Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Mumbai
Tier 1 – Ludhiana, Jaipur, Lucknow, Patna, Bhubaneshwar, Vizag, Ahmedabad, Bhopal, Pune
Tier 2 – Dehradun, Moradabad, Guwahati, Bokaro, Kolhapur, Jamnagar, Raipur, Ujjain, Hubli-Dharwad, Tiruchirappalli
IPQ 7.0 vs IPQ 6.0 data comparison is amongst 25 markets only [6 metros, 9 Tier 1 and 10 Tier]
The minimum sample to conclude any findings of the study is 270 with an error margin of +-5.964
The information collected through this survey and the results published are intended for general guidance and informational purposes only. Axis Max Life disclaims any liability for any loss, damage, or decisions arising from the use of this survey or the results provided.
About Axis Max Life Insurance Limited
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ('MFSL') and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
For more information: https://www.axismaxlife.com
About Kantar
Kantar is the world's leading marketing data and analytics business and an indispensable brand partner to the world's top companies. We combine the most meaningful attitudinal and behavioural data with deep expertise and advanced analytics to uncover how people think and act. We help clients understand what has happened and why and how to shape the marketing strategies that shape their future.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
36 minutes ago
- Time of India
Bengaluru's hotel kitchens turn to machines for south Indian fare
Bengaluru: From soft idlis to crispy vadas, south Indian cuisine has always hinged on precision and a practised hand. But as the appetite for south Indian fare surges and skilled cooks grow scarce, Bengaluru's hotel kitchens are quietly adapting — by bringing machines into the masala. The city's hospitality sector is already seeing machines roll out vadas and stir up steaming pots of pongal. Yet, industry veterans say, full automation remains out of reach — especially for food steeped in regional heritage and family recipes passed down over generations. "South Indian cooks are particularly hard to find," PC Rao, honorary president of the Bangalore Hotels Association (BHA), said recently at the launch of the Media Day Marketing trade expo where equipment firms showcased new tools for the hospitality sector. "We have vada-making machines and pongal systems, but someone still needs to measure and feed the ingredients. It's not yet 100% mechanised," Rao said. Demand for bulk-catering solutions is driving part of this change and BHA president Subrahmanya Holla said machines are helpful where quantity matters. "We use pongal machines in large setups. Vada-making too is easier when it is automated. But not everything can be handed over to the machine. In a Mysore Pak production line we visited recently, there was still the need for a human hand to pour ghee and sugar at the right moment," Holla said. At Konark Hotel, one of Bengaluru's long-standing establishments, owner K Rama Murthy has implemented high-tech combi-ovens that use steam and dry heat to prepare dishes like bisibele bath, pongal, and pulao. "We can even roast masalas in it. But for shallow-frying, or making sambar and masala dosa, the machine has its limits," he said. Murthy, with over four decades in the industry, pointed to the difficulty in fully codifying south Indian culinary knowledge. "It's generational wisdom. You can't just put it in a syllabus," he said, adding that Indian food is typically made-to-order, unlike standardised continental or fast-food options. Some kitchens are also experimenting with advanced food technology such as freeze-drying or vacuum-packing to extend shelf life and preserve nutrition, but such methods remain costly. Impact on hospitality edu Meanwhile, hospitality schools are recalibrating their curriculum. At IIHM Bengaluru, students are now being trained on artificial intelligence-driven systems. "AI is streamlining kitchen operations — from menu planning to stock-taking," said Sanchari Chowdhury, the institute's director. "In fact, a Japanese restaurant here uses technology to remember diners' preferences—where they sit, what they order," Chowdhury, who believes Bengaluru's tech-savvy mindset gives it an edge, Sanchari said. She, however, added: "We have already replaced key cards with mobile check-ins. But even as roles evolve, the warm human presence is still crucial in hospitality."
Hindustan Times
43 minutes ago
- Hindustan Times
Elon Musk launches Tesla robotaxi in Austin: Here's how rides are priced
Tesla's long-hyped robotaxi was launched on Sunday afternoon, as per CEO Elon Musk who announced the rollout on his platform X (formerly Twitter). The first rides, priced at a flat $4.20 are now being offered in parts of Austin using driverless Tesla Model Y vehicles, stated a Reuters report. Several Tesla robotaxis were spotted Sunday morning navigating South Congress, a bustling neighborhood in the Texas capital, with no driver behind the wheel. A vehicle Tesla is using for robotaxi testing purposes on Oltorf Street in Austin(Bloomberg) Several social media users posted videos of robotaxis and noted that a single person was seated in the passenger seat, acting as a 'safety monitor'. The electric vehicle maker has not issued an official statement or provided details on the scope of the Tesla robotaxi launch, but a small group of influencers were invited to participate in a closely monitored pilot featuring 10-20 vehicles operating within a geofenced zone of Austin. Also read: Indian CEO slams Tesla for returning $1,000 fee: 'Elon Musk, do you know...' Texas lawmakers move to regulate autonomous vehicles The launch came days after Texas Governor Greg Abbott signed a new legislation requiring autonomous vehicle operators to obtain a state permit. Though the law does not go into effect until September 1, it signals a shift from Texas' previously hands-off approach to autonomous driving regulation. The law mandated operators like Tesla to attest to the safety of their AVs, provide emergency protocols for police and first responders, and comply with Level 4 autonomy standards, which means vehicles can drive themselves within specific conditions sans human intervention. Tesla deviating from norms by not relying on lidar/radar The Reuters report stated that Tesla was bucking industry norms by relying exclusively on cameras, without lidar or radar. Additionally, Musk has long argued that relying on cameras make Tesla's system both safer and more scalable, though critics have cited safety risks and past delays as cause for concern. Musk has spoken about self-driving cars over the years and now he is promising that safety will be a top priority as they roll out Tesla robotaxis in Austin. These cars will steer clear of bad weather, tricky intersections, and underage riders, and will only drive in areas where they are certain everything is safe, Musk said. The launch of Tesla's robotaxi is a big step for the company's future plans. Analysts think a lot of Tesla's long-term worth is dependent on how well they can commercialize their robotaxis and AI technologies, like humanoid robots. However, it is not all smooth sailing. Tesla's rival Cruise, owned by GM, recently had to suspend its operations following an accident, and both Waymo (Alphabet) and Zoox (Amazon) are operating under heavy regulatory watch. Tesla's unique approach, relying purely on cameras, sets it apart from the competition, but it also brings its own set of safety and liability issues. FAQs Q: Is Tesla launching robotaxis in Austin today? Yes, Elon Musk announced that Tesla has begun offering limited robotaxi rides in Austin as of Sunday afternoon. Q: How much do Tesla robotaxi rides cost? Tesla is offering the initial rides at a flat rate of $4.20. Q: Are the Tesla robotaxis fully driverless? Yes, the vehicles operate without a driver but currently have a front-seat 'safety monitor' during this pilot phase. Q: What level of autonomy do these vehicles have? Tesla's robotaxis are classified as Level 4 autonomous, meaning they can drive themselves under specific conditions without human input.
Time of India
an hour ago
- Time of India
Oil supply chain stable, says minister Hardeep Puri
NEW DELHI: India's oil supply chain remains stable as a result of diversification in the last few years, oil minister Hardeep Puri said on Sunday. . "...We have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he said in a post on X. Data from Kpler showed Indian refiners pivoting away from West Asia since outbreak of hostilities between Israel and Iran stoked fears of Hormuz closure. In June, for example, oil imports from Russia and the US outpaced combined volumes of from traditional West Asia suppliers like Iraq and Saudi Arabia. India imports oil from 13 countries. India does not buy any oil from Iran. Hormuz is crucial for India as 40% of oil imports still passes through this waterway between Iran and Oman. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
