This advisory is a part of our series on understanding AI maturity among the Indian insurance companies. It highlights current investments on AI and future spending in the Indian insurance industry.
The Indian insurance industry is growing at a steady pace. According to the Insurance Regulatory and Development Authority of India (IRDAI), India will be the sixth-largest insurance market within a decade (leapfrogging Germany, Canada, Italy and South Korea), making it a potentially strong market for AI providers. This publication discusses current investments on AI and future spending in the Indian insurance industry based on our survey of the Indian Insurance Executives for ‘Understanding AI maturity among the Indian insurance companies’.
Table of Content:
- In A Nutshell
- Verdict
- Introduction
- ViewPoint
- Investments in Artificial Intelligence (AI)
- Future spending
- Keep in Mind
- Conclusion
List of Figures:
Figure 1: Expected growth in spending in AI by the Indian insurers.
