Digitisation brings efficiency in many ways, from cutting down paperwork to enabling video know-your-customer (KYC) updates and more. Insurers as well as customers have been talking about the convenience it has brought along. What has been your experience so far?
Those are the easier parts of digitisation—cutting down paperwork and reaching out faster to the customer via emails, among others. But let us look at the bigger picture. When the Covid-19 pandemic happened, nobody knew how to handle that, whether it was doctors or hospitals, because there were no protocols in place for it. But at that time, insurance companies would have data flowing in, which would show if something was going well and whether something was going wrong, as the data received would be on real-time basis. If that data could have been used by the government or by the World Health Organization (WHO), it would have enabled them to fast-track the learnings, which would have benefitted millions of people across the globe.
So, one, in an era of digitisation and data, in health especially, it can help you solve a lot of things at a hyper speed. That is exciting. Two, during Covid-19, everyone had their own island of digitisation—hospitals had their own, insurance industry did their own. Even today, when cashless treatment happens, hospitals get the data, then they send it to the insurance company, and they would look at it and process and so on. Why cannot it be all plug-and-play? Why cannot it be on a real-time basis?
As an industry, we are putting up a platform on which all the hospitals and insurance companies will be plugged in so that processes and transitions are seamless. From the customers’ perspective, they will just walk in and walk out because everything gets paid on a real-time basis.
Bu hikaye Outlook Business dergisinin March 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Business dergisinin March 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Scale Stimulus
For technology start-ups, growth funding serves as the catalyst to scale, innovate, expand into new markets and make critical hires. New capital brings strategic value through investor expertise and industry network, customer introductions, helps maintain operational efficiency and mitigate cashflow challenges.The landscape of venture and growth financings in India has undergone a major shift since the pre-Covid era. The pandemic gave rise to a low-interest rate environment which saw an unprecedented inflow of capital into Indian start-ups with a very strong focus on high growth, often at the cost of high burn. Post-pandemic, the environment has seen a significant shift in focus towards sustainable growth, profitability and efficient unit economics.
The Best Valuation Need Not Be the Highest
Info Edge founder and veteran start-up investor Sanjeev Bikhchandani talks to Deepsekhar Choudhury about high valuations and corporate governance in start-ups. Edited excerpts
GCCS Shaping Start-Ups
The remarkable journey of global capability centres (GCCs) in India continues to set new benchmarks, enriching the nation's economic narrative.
Behind the Scenes
Evaluating start-ups is more than number crunching. While some factors are quantifiable, many are more nuanced. Here's a sneak peek inside the war room from where the rankings emerged
Start-Ups have Generated 17.28 Lakh Direct Jobs
Amardeep Singh Bhatia, secretary, department for promotion of industry and internal trade (DPIIT) tells Pushpita Dey about the government's various schemes to give start-ups a leg up.
On the Road Less Travelled
Our entrepreneurial journey as the founders of the CarDekho group proves the fact that ambition and ingenuity can flourish in the most unexpected places.
Being Local Matters
India's rapidly evolving consumer market, backed by a young, progressive population and a flourishing middle class, is a landscape of opportunity and complex challenges.
CELEBRATING EXCELLENCE: OUTLOOK BUSINESS SPOTLIGHT - ACHIEVERS AWARDS 2024
Recognizing Visionaries Who Inspire Growth, Innovation, and Progress
At the End of the Day, You Bet on Founders
Zerodha founder and chief executive Nithin Kamath tells Deepsekhar Choudhury that the philosophy of a company is what sets it apart and makes it special. Edited excerpts
Time to Go Global
India's defence and space start-up ecosystems have witnessed exponential growth in recent years, with over 1,000 defence and 250 space start-ups driving deep-tech innovation. Government initiatives such as Innovations for Defence Excellence (iDEX), positive indigenisation lists and allocation of 75% of the defence capital budget for domestic procurement, along with support from Indian National Space Promotion and Authorisation Centre (InSpace), have created vast opportunities.
