A recent survey indicates that India is fast evolving as a leading buyer of cyber covers. Explore why the insurance industry must remain at the forefront of innovations.
Achim Steiner, Under-Secretary-General of the United Nations & Executive Director of the United Nations Environment Programme rightly observes: “In 1992, the risks to people and the planet from accelerating environmental degradation and social inequalities were just being glimpsed.
‘Act of God’ refers to natural disasters that are not caused by any human intervention. In fact, it pertains to natural catastrophic occurrences that are beyond the slightest degree of human control.
Despite the spectacular growth of the insurance industry in the last two and a half decades of regulatory reforms, insurance penetration in India has hardly reached its optimum.
Insurance has the potential to transform lives, which is why it is considered essential. The potential to ignite financial confidence is synonymous with transformative change that percolates down to local communities worldwide. However, not all industry players and decision makers appreciate the power of InsurTech and embedded solutions. Only data-driven, razor-sharp visionaries can recognise i...