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

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,

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 -

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

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

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

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,

Blogs 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

Did Covid-specific insurance policies help increase the health insurance segment? Just 3 months after the coronavirus was officially declared a pandemic in India, the IRDAI, in June 2020, announced the release of 2 Covid-specific insurance product mandates. These addressed basic health insurance needs of the public but allowed insurers to fix premium rates. The mandate

Pandemic impact on Non-life Insurance Sector We welcome you to our insight series - Riskcovry InsurTech Pulse, where we aim to deliver views and updates that encourage conversations among our colleagues and enthusiasts in the #InsurTech space. This blog is an extension to this series where we elaborate on a topical insight and what more