Digital Netflix

Digital Transformation for Micro Insurance Abstract: Micro Insurance - as it name denotes, which fits precisely on the covered extent of insured over the country - that has positioned proudly to beat china by 2025 through its population. However, it doesn’t mean that the industry haven’t taken adequate efforts to infiltrate in to market, for almost a decade everyone associated with the industry are pumping out their whole vigor to drive this to growth phase. Being the regulator, IRDA has defined the regulation for micro-insurance at 2005. Followed by that, all public & private insurers are given with the target to promote and cover the economically vulnerable sections of the society. Having such huge market in terms of populations and economically susceptible groups spread over the states to get covered, still we can’t oppose or argue to the fact that we have been tapping predominantly on the word “Micro-insurance” alone and not the untapped market.   Neverthele...

How to avoid insurance fraud It’s well known fact that most of the insurance companies across the globe are undergoing multiple challenges to operate economically and efficiently. Here, some of the key areas are highlighted where still many insurance companies that do not likely to struggle, perhaps even to survive in the market those includes, comply with the new and existing regulations, to meet competitive pressures, customer demands, taxation, distribution channels, managing policy administration system that support the current practice and capable for futuristic demands, sketching the strategy from existing business model to world’s highly demanding digitization, solvency and so on. In midst of these critical and frightening environment, couple of risks associated with all insurance companies over the many years, even with the inception of concept called “Insurance”  where many insurers are still struggling to address those pain points – “Moral Hazard” and “Adver...