India:Huge opportunities for InsurTechs from COVID-19

The COVID-19 pandemic has accelerated the growth of InsurTechs across the Indian market and this is expected to grow exponentially over the next decade, said speakers at a webinar organised by the Digital Insurer yesterday.

The convenience and large customer reach have been the major factors boosting the growth of InsurTechs and the COVID-19 pandemic has only further enhanced this growing trend. As disruptions from numerous lockdowns and social-distancing rules restrict face-to-face interactions, digital platforms have become the safest and most convenient insurance market place. The new normal today has accelerated digitalisation across mediums and industries and companies are increasingly exploring services and offerings from InsurTechs.