The whole cycle of getting quotes to policy acquisition to policy servicing to proactive claims identification, assistance and processing will have to take the digital route to improve customer experience
Rise in the insurance sector will be marked by a favorable demography, penetration opportunities, relevant technology, financial inclusion and rising financial literacy.
Riding on the digital wave, insurers will harness the power of technology, social media tools, new e-payment models and distribution channels
Three definitive steps for the development and growth of this industry: One, relaxation of investment restriction; two, a level playing field in tax treatment; and, no service tax upon maturity.
The traditional insurance model was largely product-centric and channel marketing-driven. The new age model will turn this on its head with the customer at the center and a suite of digital technologies, services and ecosystems to tap the customer....
Applications can be built on top of Aadhar to provide paperless, hassle-free customer on-boarding experience which is legally compliant, secure, consent driven and non-repudiable.