The Indian insurance market is lighting the radar for many Digital Executives; given the strength of it’s vast population, more than xx percent of which are still underpenetrated, rapidly rising middle class and a huge chunk of population under the age of 35 years which will be the potential customer power base for the next few years. These tech-savvy customers have high expectations and are demanding a digital customer experience across the whole value chain. The government is also pushing its Digital India vision. The industry is in a state of transition. While there has been significant changes in the market dynamics since liberalization and economic reforms, more needs to be done for future growth and development of the market in a systematic and sustainable manner.
Current Market Environment:
Key Underlying Insurance Factors that will Influence Digital Transformation
Disruption by Digital Transformation:
Verdict & ViewPoint: