A magazine to reckon with in the Fintech segment,
Banking Frontiers over the past three decades has
carried the legacy of urgent and detailed cover-age of
all the latest happenings in the industry. Over the past
few years, the brand has diversified digitally, though still
holds the fort in the print segment.
Globally, the insurance market penetration is around 7.3 per cent. In India, it stands at 3.7 per cent, which is relatively low compared to global peers. To ensure further market penetration, there is a need for the industry to strategise and devise more tools and ways to reap results. There has been witnessed a lack of awareness, non-clarity of the benefits, the hassles of claims, lack of trust and economic instability, etc has added to the averseness towards purchasing an insurance. Though, a lot has changed in the past few years with increased transparency. However, the non-life insurance segment in India is still below 1 per cent.
With the balance of power shifting towards consumers, the industry faces the current crop of challenges of lower penetration, dealing with the on-demand economy, more catastrophic events, staying ahead of challenges and even reigning in the cusp of new technologies.
India has 24 life and 34 non-life insurance companies, 29 TPAs, 25 lakh agents and numerous underwriters. In 2020, the segment added 1.7 lakh new agents despite the pandemic, an indicator of healthy growth backed by popular realisation to invest in insurance during the pandemic and the resultant lockdown.
|Schedule||Session / Topics|
|09:15 – 09:30 hrs||Inaugural Session – Welcome Note by Babu Nair, Publisher, Banking Frontiers|
|09.30 – 10.00 hrs||Overview of InsureNext 2022|
|10.00 – 10.15 hrs||Presentation|
|10.15 – 10.55 hrs||Panel Discussion I: Claims & Settlements in the digital era: With changing times, the processing of claims and settlements has sped up by the insurance companies. The role of data, how the companies are putting the data to its best use to approach the critical segment of claims. The percentage of claims disbursed by the company influences the decision making of a customer|
|10.55 – 11.10 hrs||Fire Side chat with Editor|