National Technology Day: Our Leaders Share Insights on the Transformative Power of Emerging Technologies in Insurance

The Indian Insurance industry is going through dynamic times and technology is going through dynamic times and technology is reimagining how insurance how insurance is bought and sold, in ways unthinkable before. On this National Technology Day, Insurance leaders see technology not just playing the role of partner but also a driver and orchestrator of business going forth. See what our leaders have to say:

Srinidhi Shama Rao, Chief Strategy Officer, pointed out how CKYC and other government-supported APIs have enabled customer identification to be done with the click of a button, while adding that AI has powered zero-doc underwriting and on-the-spot issuance.
Bots have made policy management all the more seamless, interactive, and personalized, In short, thanks to technology, in the new world order, what a customer would experience on a food delivery app or ride-hailing app is what they would experience on a food delivery app or ride-hailing app is what they would experience in insurance as well.

Rao strongly feels that the next wave of technology adoption in insurance will see customer experience (CX) taken to the next level with hyper-personalization, dynamic purchase journeys, intelligent policy management, proactive claim settlement and more.

Kiran Senior Vice President, CISO, and IT Governance, shared  "The pandemic has accelerated the adoption of critical technology trends, leading to the transformation of CIOs' roles and responsibilities. We have shifted from  being IT suppliers to enablers, staying connected with the core business. National Technology Day reminds us of the achievements of Indian scientists and the value they have created by applying technology to solve real- world problems. It serves as a source of inspiration for us to continue fostering a mindset of learning, unlearning, and relearning and to make the right decisions in a world characterized by volatility, uncertainty, complexity, and ambiguity."