How to jumpstart India’s insurance industry through a customer-centric strategy
Ready for takeoff: After decades of tight government control over the sector, the Indian insurance market has enormous potential for growth – if it can overcome its constraints and bureaucratic legacies. Increasing penetration: The key to the industry achieving its potential is a change in mindset from an inward-facing focus on products to a customer-centric strategy focused on outcomes for India’s vast groups of uninsured and underinsured populations. Learn from the best: For inspiration, insurers can look beyond India’s borders and learn from global best-in-breed examples. At the same time, they need to be responsive to new technologies that drive business model innovation for better customer experiences and increased customer trust.