Zopper NXT10 InsurTech Summit 2023 title_separator site

Leaders’ View: Insuring India Phygitally: From Vision to Action

The Phygital Model has surfaced as a strategic and efficient approach to augment insurance penetration in India. During the discussion, industry leaders deliberated on the challenges presented by conventional insurance models. They explored how the phygital model, harnessing both technology and physical infrastructure, can extend last-mile connectivity to every corner of India to make insurance accessible to everyone.

Fireside Chat: From Push to Pull | Adding Speed to Life

Two decades ago, private players were allowed to enter the insurance industry but even after that, no major change was noted in insurance penetration. In this Fireside Chat between Amol Dethe, Editor, ETBFSI, and Satishwar Balakrishnan, MD & CEO, Aegon Life Insurance, at the Zopper NXT10 InsurTech Summit 2023, the Aegon Life Chief responded to important questions such as “What is needed for life insurers to move from push to pull product?”

Unleashing The Power of Collaboration: Insurance, InsurTech and Banks

In today’s collaborative era, Bancassurance is popular in India due to its heightened insurance awareness and convenience. This approach involves financial institutions and insurers collaborating to expand insurance access, using banks’ established customer base for distribution. The panellists emphasised that the convergence of banking and insurance services creates a seamless, customer-centric model, fostering the growth and accessibility of insurance in the Indian market.

Inclusive Bharat: Lending Institutions Establishing Last Mile Insurance Connect

India’s financial landscape is enriched by an expansive network comprising approximately 8,000 Non-Banking Financial Companies (NBFCs). Technology integration within these institutions presents a transformative opportunity to extend the reach of insurance products to remote and underserved regions. By harnessing the power of technology, NBFCs can overcome geographical constraints and bridge the insurance gap in areas that traditionally face challenges in accessing financial services. Panellists expressed confidence that as NBFCs leverage technology to unlock their full potential, they would become instrumental in creating a more inclusive and accessible insurance landscape across the diverse terrain of India.

CHAT WITH CELEBRITY | Making The Impossible Possible - The Obstacles, The Solutions

Renowned actor and philanthropist, Rahul Bose, delivered an inspiring leadership talk, drawing from his entertainment industry experiences and advocacy for social causes. He emphasised the importance of empathy, resilience, and adaptability in leadership, encouraging the audience to embrace social responsibility. Bose’s conversation with Surjendu conveyed that effective leadership extends beyond professional success, urging individuals to use their influence for positive societal change. His ability to blend personal anecdotes, industry insights, and social impact made his discourse a compelling source of inspiration for the audience at Zopper NXT10 InsurTech Summit 2023.

Embedded Insurance: Reigning in the New Age Insurance Ecosystem

Embedded Insurance has transformed the insurance industry, offering a revolutionary potential to access previously untouched customer segments and enhance protection for policyholders through technology. The conversation delved into establishing a seamless, efficient, and transparent system supported by technology, making bite-sized insurance products easily accessible to today’s consumers.

Thrilling Trio: A Case Study

In an exhilarating three-way conversation during the Zopper NX10 InsurTech Summit 2023, Virendra Somwanshi, President and Head of Wealth Management and Capital Markets at Bank of Baroda Group, Venkataraman RK, EVP & Head of Bancassurance & Investment at Equitas Small Finance Bank, and Karan Vashisht, Chief Product Officer at Zopper, discussed their collaborative efforts in developing a new product innovation paradigm within the insurance space.

Building Trust Through Tech: Streamlining Warranties With Digital First Approach

Establishing trust in a ‘Digital First’ strategy is crucial for OEMs and Retailers. This session expanded on adopting technology-driven interventions to enhance the customer experience and ensure an additional layer of protection for asset usage. Integrating technological advancements, such as secure transaction mechanisms and real-time monitoring, streamlined processes and built a foundation of reliability and transparency. Leaders concluded that by prioritising innovative, technology-driven solutions, businesses can create a digital ecosystem that meets evolving consumer expectations and fosters lasting trust in the insurance sector.