India’s insurance sector is undergoing unprecedented modernisation

India’s insurance sector is undergoing unprecedented modernisation

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New Delhi

Insuzers must adapt to New-age customers’ needs, leverage on the explosion of data and digital footprint and the changing investment environment as the sector is undergoing unprecedented modernisation.

The CII – PWC report, titled ‘Evolving Considerations for the Indian Insurance Industry’ discusses three key areas relevant to the current insurance sector – Simple Products and Low Cost Distribution, Digitization and Fraud Management and Broadening Investment Horizon.

The report said that eco system for insurance in India is rapidly changing. Government of India initiatives such as demonetization, introduction of UPI, India Stack are accelerating the adoption of digital technologies.

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