Retail vs Group Insurance Products

Retail vs Group Insurance Products You’ve decided to start distributing insurance to your customers and terms like retail insurance and group insurance keep popping up. What are these? Are all insurance products retail, in a sense, because everything’s ‘sold’ to customers? Well, yes and no. There are differences and this blog will help you understand […]

Pulse Under Penetration of Insurance in the MSME sector in India

Under Penetration of Insurance in the MSME sector in India While just around 0.9 percent of dwelling units in India are insured, the number in the United States is closer to 90 percent. When a natural catastrophe hits, individuals incur massive economic losses. Unfortunately, Micro, Small and Medium Enterprises (MSMEs) often lack a solid understanding […]

Insuring the Millenials

Insuring The Millenials: A Challenge or an Opportunity? India is a young economy. In fact, almost half of it is supported by the millennials, comprising 47% of the total workforce of the country. So who exactly are the millennials? Technically, people born between the years 1981 and 1996 are considered millennials – meaning the oldest […]

How Relevant Insurance Agents are in the Digital Era

Insurance is one of the many sectors in India that have witnessed a revolution due to digital technology. The advent of innovative tools and software solutions is gradually making the process of buying insurance easier than before. For instance, you can now browse the internet to compare different policies and insurers, choose one, and even […]

The Evolving World of InsurTech

Insurance is a tedious subject. That is something you may hear from individuals who do not know any better. Those who are adding value recognize that insurance is home to some of the most exciting technological developments. During what you may call the Fourth Industrial Revolution, where everything connects via cyber-physical systems and is tech-driven, […]

The Changing Face of Insurance Distribution

The business landscape across every industry has seen a significant number of disruptions in the last decade. The insurance industry is no different, and the need for a sharper distribution strategy has never been more pressing, given the sudden rise of digital penetration across the country due to the Covid pandemic. The rise of InsureTech […]

Benefit Based vs Indemnity Based Products

Insurance plans help in managing the different types of risks that individuals face. These plans provide financial security. There are different types of insurance products depending on the risks covered — life insurance, health insurance, motor insurance, travel insurance, fire insurance, etc. Similarly, when it comes to the payment of claims, insurance plans can be benefit […]

Insurance Products That Don’t Require an IRDAI License

Insurance Products That Don’t Require an IRDAI License? First, let me start by telling you why the IRDAI exists. The Insurance Regulatory and Development Act was introduced in 1999 for the purpose of regulating insurance business in India. This regulation governs the registration of insurance business in India, granting of IRDA Licence for starting an […]