3rd Annual Insurance India Summit & Awards 2018” with the theme BlockChain, AI & IoT – The Future of Smart Insurance Industry is being organized to create a platform to the decision makers and industry stake holders, to accelerate the process and ensure successful transition to digital workflows to embrace to create more automated and user-friendly processes. Since insurance is a capital-intensive business, upping the FDI gives foreign players an opportunity to invest in India’s insurance market and grow their business here through digital initiatives and channel development. The coming year will assume a significant position in the history of Indian insurance industry.
The Indian Insurance Industry is witnessing a slow but certain evolution due to disruptive technologies, external market forces, and their consequent impact on insurance business and operating models. From the rise of mobile users and cloud-based technology to social media interaction, the tech trends for insurance industry explains that insurance companies are finally realizing the need to be more nimble, efficient and accessible in order to serve today’s customer. As a result, insurance industry not only feel pressured to digitize their workflow, but also must streamline business processes to make the cost of doing business more efficient and in-line with these regulations.