11/10/2020
D for Digital is best gift of Covid.
When Covid hit in march, it was peak time for insurance business. We get 15/20 % of new business in march only.
The best thing that could happen in Covid period is digitisation.
Insurance industry has seen all of it in lockdown be it
1) Turbo charge in online sales.
2) Technical maturity as baseline requirement.
3) Sharp client prospecting.
4) Digital enabled distribution
5) Pre underwritten product sale
6)Digital partnership with stakeholder as well as service providers
7) Frictionless customer journey and network of organic traffic.
At end of six months and two quarters as of now, we are extremely delighted and happy that we have surpassed our last year performance in all six months.
The insurance industry as such has changed from push product to pull product.