Empowering Potential Unlimited


Date - 5th January, 2023

The insurance industry has grown from the 13th largest insurance market to the 5th largest. According to IRDAI, the Indian general insurance premium will rise to 2.52% of GDP by 2032. By 2022, global insurance premiums will have surpassed $7 trillion. The insurance technology space is buzzing with innovation. The sandboxes are expanding the possibilities for experimentation. The regulator has simplified product launches by allowing them to take place without the need for initial permissions. Companies are being kept on their toes by IRDA's policy of allocating regions to exponentially expand into underserved areas.

There are 24 life and 34 non-life insurance companies in India, and these numbers are much smaller as compared to those in many developed economies. India also has 29 TPAs, thousands of brokers, 25 lakh agents, and numerous underwriters. In India, the non-life insurance segment is still less than 1%. There is a need for the industry to strategize growth with better tools and techniques.

Banking Frontiers is launching the second edition of its Insurance Conclave and Awards titled The Banking Frontiers INSURENEXT Summit (BFINS). This summit will serve as a powerful forum for discussing the major challenges confronting the insurance industry, technology companies, and allied sectors, and for finding the desired solutions.

InsureNext Compendium

Choose Your Company Category (For Delegates)

Guest of Honor

Ms. Shweta Shalini

Spokesperson, BJP

Shweta Shalini is a Politician and spokesperson of BJP & Advisor to the Former Chief Minister of Maharashtra, Shri Devendra Fadnavis. She is also the State-in-charge (Prabhari) of Maharashtra BJP North Indian Cell. She is the former Executive Director of VSTF section 8 company formed by the Government of Maharashtra and chaired by Hon. Chief Minister to work towards the transformation of 1000 backward villages into model villages. She is a woman with a wide range of skill sets which makes her an unlikely individual in Indian politics today.

She believes that information technology, youth, as well as women have the power to change the political system. She believes that country cannot prosper unless underperforming segments like women, the rural population, and youth can contribute more.

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Empowering Potential Unlimited

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