Insurance Technology

Big Data is transforming the insurance industry by powering predictive analytics. This shift enables insurers to assess risks more accurately, detect fraud, and create hyper-personalized policies. InsurTech solutions are key to navigating challenges such as data quality, security, and scalability, ensuring that insurers can effectively harness the power of data to stay competitive and innovative in a rapidly evolving market.

How is InsurTech revolutionizing customer experience in the insurance industry? From instant claims settlements to personalized services, the digital age is reshaping expectations. Are you ready to discover the 8 ways technology is bridging the gap between traditional practices and modern demands? Dive into our latest blog to find out!

The Union Budget 2024 emphasised capital expenditure, talent development, R&D, infrastructure development, and capital investment, which play a key role in India’s sustainable growth.

The 5G network is going to be a whole lot faster.The era of hyperconnectivity is upon us and the 5G network rollout has ignited a digital revolution across industries, including insurance. The post-COVID world has grown accustomed to faster turnouts and convenience, which means under 10-minute deliveries, on-call consultations and unprecedented access to everything. For it, a consumer requires ...

As of 2019, India's urban population stood at just over 470 million, approximately 34.47% of the total population. In contrast, more than 65% of the population resides in semi-urban and rural areas, where access to digital services is significantly lower compared to major cities. - Pradhan Mantri Jan Dhan Yojana.

As predicted by the Swiss Re Institute, by 2028 we should anticipate a significant growth in total insurance premiums, with an estimated increase of 7.1% in real terms.

If the India Brand Equity Foundation is to be believed, there are attractive opportunities in the nation’s near future.

With the demise of the one-size-fits-all approach, the insurance industry has recognised the critical importance of personalised policies. Such tailored approaches help avoid incorrectly priced policies and missed financial opportunities.

In the fiscal year 2022, the Indian government earmarked around 860 billion Indian rupees for the Ministry of Health and Family Welfare in the Union Budget. Meanwhile, the health technology sector in India witnessed significant private equity and venture capital investments totalling nearly 1,740 million U.S. dollars in 2021.