INSURTECH RISING
Business Today|May 29, 2022
INSURTECH START-UPS' USE OF DATA-DRIVEN TECHNOLOGIES IS ENABLING INNOVATION ACROSS THE INSURANCE VALUE CHAIN, AND IS BRIDGING THE GAP BETWEEN POLICYHOLDERS AND INSURERS
TEENA JAIN KAUSHAL
INSURTECH RISING

HOW INSURTECHS ARE BENEFITTING POLICYHOLDERS

CUSTOMERS ARE SPOILT FOR CHOICE, AND THEY ALSO GET GOOD SERVICE

1. Customised product offerings that suit policyholders' needs

2. Product innovation for niche segments like cycle insurance, fitness insurance

3. Timely resolution of claims, servicing, and grievances

4. Issuance of policy digitally, without the requirement of physical touch-points

5. Embedded insurance solutions like the one offered at the time of buying a new mobile phone

6. Hassle-free and faster claim settlements

PICTURE YOURSELF DRIVING a car. While pulling into your destination, you hit a lamp post in the parking lot. You quickly take a picture of the damage done to your bumper and upload it on the app of your insurance company. By the time you think of taking the car to the nearest garage, the insurance company confirms that your claim has been approved and the money gets credited to your account. While many such technologies are available for customers already, a fully integrated and automated claim settlement process is still a bit distant in India.

The good news-digitalisation has started transforming various aspects of the insurance industry and the time may not be too far when, after the accident, your insurance company immediately tells you how your careless driving led to an increase in future premium payments and, consequently, the money gets deducted from your account. Phew! Far away, but entirely plausible.

هذه القصة مأخوذة من طبعة May 29, 2022 من Business Today.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة May 29, 2022 من Business Today.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS TODAY مشاهدة الكل
"Focus on the challenge of each customer"
Business Today India

"Focus on the challenge of each customer"

SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company

time-read
1 min  |
December 08, 2024
PEDAL ON THE FUTURE
Business Today India

PEDAL ON THE FUTURE

THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY

time-read
1 min  |
December 08, 2024
BREATHE EASY
Business Today India

BREATHE EASY

Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference

time-read
2 mins  |
December 08, 2024
The Taste of India in a Glass
Business Today India

The Taste of India in a Glass

FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN

time-read
4 mins  |
December 08, 2024
LOOK BEFORE YOU LEAP
Business Today India

LOOK BEFORE YOU LEAP

IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES

time-read
5 mins  |
December 08, 2024
MISSING ADVISORS
Business Today India

MISSING ADVISORS

INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE

time-read
7 mins  |
December 08, 2024
TURNING A CORNER
Business Today India

TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

time-read
5 mins  |
December 08, 2024
REALITY CHECK
Business Today India

REALITY CHECK

INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?

time-read
6 mins  |
December 08, 2024
TRUMP'S TRADE TANGO
Business Today India

TRUMP'S TRADE TANGO

The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?

time-read
9 mins  |
December 08, 2024
"The essence of the Trump administration will be transactional”
Business Today India

"The essence of the Trump administration will be transactional”

Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more

time-read
10 mins  |
December 08, 2024