Future Generali
search

Insurtech part of solution, not silver bullet to everything: Miranjit Mukherjee

Miranjit Mukherjee – Interim CEO & Principal Officer

Originally published in: https://bfsi.economictimes.indiatimes.com/news/insurance/insurtech-part-of-solution-not-silver-bullet-to-everything-insurance-leaders/87966274/

"Insurtechs and their methods fit in well with general insurance companies but not with life insurance. Since general insurance is short term and easier to understand, companies offering it can have tie ups with insurtechs to reach out to Bharat by extensive distribution. However, for life insurance, since it is long term and a bit more complex, people avoid to opt for virtual interaction and use technology as a medium," Mukherjee added.

One could design products and sell through the insurtech space to ramp up the distribution, and reach out to a larger population of Bharat. However, insurtechs being an ultimate solution in this space still seems like a distant dream, he said.

"He also said that nature of life insurance is such that the customer still wants a one on one interaction instead of using technology as a medium".

(By Miranjit Mukherjee – Interim CEO & Principal Officer at Future Generali India Life Insurance Company Ltd)

Read Next

DN_BikashC_1.png

Why premium on life insurance plans varies across companies

It can be quite confusing to understand why you have to often pay a higher premium than others for a life insu…
Read more.

How to Reactivate a Lapsed Life Insurance Policy?

Has your life insurance policy lapsed owing to any unavoidable reason? Here's how you can revive a lapsed poli…
Read more.

/*Defer Offscreen Images*/ /*Defer Offscreen Images*/