Emerging trends, tech opportunities, tasks in front of the insurance industry – Live Mint

Emerging trends, tech opportunities, tasks in front of the insurance industry – Live Mint

Insurance is that financial product that you wished you had bought when bad times come in the form of an untimely death, a medical emergency, an accident or a theft. India is moving slowly from a country that simply saves more to absorb the risk to one where modern financial product are used to mitigate the risk of future events. This shift shows up in the numbers of the life and general insurance industries in India that together see an annual premium flow of more than a huge ₹6 trillion. It will be 20 years next year of the insurance industry opening up to the private sector. These years saw a state-owned monopoly market turn into a vibrant industry with the private sector entering the industry aggressively.

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