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What is ‘Insurtech’? “Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is a portmanteau of “insurance” and “technology” that was inspired by the term Fintech.” Source: Investopedia.com So, what Insurtech mean for an average Indian?
The Goods and Services Tax (GST) regime that will be implemented from July 1 will not only lead to an immediate hike in your policy rates but will also lead to an additional revision due to increase in compliance costs and technology costs for insurers. “The GST regime will lead to an increase
The face of Agency channel in Insurance Industry is changing rapidly world wide. In fact not just agency, the whole Insurance distribution ball game across channels are changing rapidly. More so in the emerging markets. I remember vividly way back in 2000 when i started my career in Insurance Industry as an Agency Sales Manager in…