Leaders' View: Insuring Bharat Phygitally: From Vision to Action

The panel discussion at the Zopper NXT10 InsurTech Summit 2023 delved into the challenges presented by traditional insurance models and explored the potential of the "Phygital Model." With India's diverse population and varied cultural landscapes, there exist substantial gaps in insurance accessibility. Despite notable success in government insurance programs, only a small percentage of the population was insured in 2021. Insurance industry leaders such as Neelesh Garg (MD & CEO, Tata AIG General Insurance), Hitesh Kotak (CEO- India, Middle East and Africa, Munich Re), Anand Pejawar (Deputy MD, SBI General Insurance), and Ramganesh Iyer (Partner, Bain & Company) discussed how the Phygital Model, combining technology and physical infrastructure, can bridge these gaps and provide last-mile connectivity in the insurance industry.