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From push to pull: How insuretech is rewriting India’s insurance story

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Picture this: A middle-aged insurance agent, briefcase in hand, sitting in your living room, explaining complex policies to your parents. This scene, once a common occurrence in Indian households, is rapidly becoming a thing of the past. This is thanks to the advent of a new age of insurance, where Generative AI (GenAI), Internet of Things (IoT) and other cutting-edge technologies are more prevalent than ever.

Jefferies research predicts that by 2025, one-fifth of premium revenue for India’s health and life insurers could be generated online. That’s a significant chunk of the pie moving to the digital realm. But there’s more! India’s insuretech sector is expected to grow by 17% annually, reaching a whopping $307 billion by 2030.

Now, you might think this digital revolution would wash away insurance agents. Instead, we’re witnessing a beautiful synergy between human expertise and technology. Imagine a world where the knowledge of seasoned agents blends seamlessly with the efficiency of GenAI platforms and other emerging technologies. That’s the reality insuretech is creating – a best-of-both-worlds scenario where insurance becomes more accessible, transparent, and personalized.

GenAI: Transforming the Insurance Industry

Generative AI (GenAI) has become a cornerstone in the insurtech space, with insurers and brokers leveraging its capabilities to bring more transparency and clarity to insurance products. One significant adoption is the use of virtual assistants, or chatbots, which simplify and expedite the process of identifying the most suitable insurance plans from a wide range of options. These chatbots enhance recommendation accuracy, increase agent productivity, and provide clients with tailored insurance solutions.

While virtual assistants are beneficial for both insurers and brokers, they offer a particularly significant opportunity for insurance brokers. Insurers typically focus on promoting their specific policies, but brokers need to navigate a broader array of products to provide the best recommendations. 

GenAI enhances brokers’ ability to compare and recommend various options, addressing the complexity and ambiguity of insurance products. These AI-driven assistants help customers understand the nuances of different policies, allow consumers to compare various products from different insurers in an unstructured environment, making the decision-making process more straightforward and informed, enabling consumers to deduce the most suitable product for their needs. 

Insurance companies are also using GenAI to support their employees. In life insurance, for example, it might help determine if someone can get a policy without needing a medical exam. This could expand access to insurance for many people. These smart programs even tackle behind-the-scenes tasks. They monitor regulatory compliance, detect potential fraud, and create training materials for staff. All of this contributes to a smoother, more efficient insurance process.

In essence, GenAI is propelling insurance into the future, making it more accessible and user-friendly. It’s not about replacing human expertise, but enhancing it, creating a faster, more responsive insurance experience for everyone involved.

While GenAI is reshaping the core of insurance operations, we can’t ignore the potential of other advancements, such as IoT and blockchain. 

IoT: Revolutionizing Risk Assessment

The Internet of Things (IoT) is transforming risk assessment and management, particularly in commercial vehicle insurance. Installed devices provide real-time data on location, driving behavior, and vehicle condition, allowing for fairer policy pricing and accident prevention through early warning systems.

In India, while IoT adoption in personal vehicles is still growing, its impact on commercial vehicles is significant. As more manufacturers integrate IoT devices and fleet owners recognize the benefits, we can expect a major shift in how commercial vehicle insurance is priced and managed.

Insurance services

Blockchain: The Future of Smart Contracts

Although still in its early stages within the insurance sector, blockchain technology holds the potential to revolutionize insurance transactions. One of its key features, smart contracts, can automate claims processing and benefit disbursement, significantly speeding up and streamlining the process.

Imagine your insurance policy as a smart contract on a blockchain. When you visit a hospital, they can instantly verify your coverage and process claims automatically. Blockchain has already proven effective in use cases like Digiyatra and is a powerful technology. However, its deployment in insurance remains limited, and widespread adoption will require cooperation from insurers, healthcare providers, and regulators.

The Road Ahead

The future of insurance is being transformed by technologies like GenAI, IoT, and blockchain. Imagine health insurance policies adjusting in real-time based on your lifestyle or filing claims through a conversation with an AI assistant. Just as ordering food or booking a cab has become incredibly easy, getting insurance is following suit. With GenAI guiding you through the process, IoT providing real-time data, and blockchain ensuring secure transactions, insurance is en route in becoming simpler, faster, and more personalised.

While these advancements bring exciting possibilities, they also present challenges. Organizations must navigate data security concerns and an evolving regulatory landscape. However, when deployed responsibly to support rather than replace human decisions, these technologies have the potential to revolutionise the industry.

From improved damage assessment and fraud detection to streamlined claims processing and customer support, the future of insurance in India looks bright. With GenAI leading the charge, supported by IoT and blockchain, the insurance industry is finally catching up with the times, promising a more efficient and user-friendly experience for all.

(Ish Babbar is the Co-Founder and CTO of InsuranceDekho.)





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Workplace boundaries: 5 things not to share with coworkers

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In today’s workplace, building relationships and open communication are highly encouraged. A collaborative environment can foster trust, creativity, and productivity among colleagues. However, there is a fine line between being friendly and sharing too much. Revealing certain personal information to your coworkers can blur professional boundaries and even affect your career negatively. In a world where first impressions and professionalism matter, knowing what to keep private is crucial to maintaining respect and credibility.

This guide highlights five essential things you should never share with colleagues. From sensitive financial details to personal beliefs, these are boundaries that every professional should respect for the sake of both personal privacy and workplace harmony.


1. Financial information

Discussing your financial situation at work—whether it’s your salary, debts, or even that new loan you’ve taken out—can lead to misunderstandings, envy, or resentment. Salary disparities, in particular, are a sensitive topic and can create friction in the workplace if colleagues perceive unfairness. Moreover, sharing details about your finances could unintentionally set you up for gossip or judgment from others, which could alter their view of your professionalism. If you’re asked directly, a polite but firm response, such as “I prefer not to discuss personal finances,” can help maintain boundaries.


2. Political and religious beliefs

In an era of heightened political polarisation and strong opinions on various social issues, discussing your political or religious beliefs at work can be risky. Even casual remarks can lead to disagreements and, in worst cases, workplace conflicts. This doesn’t mean you should hide your identity, but it’s wise to avoid diving into discussions that might alienate or offend others. Maintaining a neutral stance on sensitive topics can help create a respectful, inclusive work environment.


3. Personal health issues

Your health is deeply personal, and sharing too much about any physical or mental health challenges can lead to unintended consequences. While close friends may share personal health information, colleagues don’t need to know the specifics of your medical history. Revealing health information might result in unwanted sympathy, awkwardness, or even doubt about your ability to perform your job effectively.


4. Negative opinions about colleagues or management

It might feel cathartic to vent about a difficult coworker or a strict manager, but sharing these thoughts with other colleagues can easily backfire. Not only can it damage your reputation, but it could also harm your professional relationships if your words get back to the person in question. Criticising team members or managers can make you seem untrustworthy or negative, both of which can hinder your career progression. Maintaining a neutral or positive stance will reflect professionalism and emotional maturity.


5. Ambitions for a new job or career move

Sharing your plans to apply for a new job or change careers might seem harmless, but it could shift how your colleagues or managers view your commitment. If your supervisor learns that you’re planning to leave, it could lead to fewer opportunities or even less favourable treatment as they prepare for your departure. To protect your current position, focus on your work, and wait to share the news until you’re ready to make a formal exit.


Conclusion

In a professional setting, boundaries are essential for a healthy work environment. While sharing parts of your personal life can help build connections, knowing where to draw the line is equally important. By keeping your financial matters, health concerns, personal beliefs, and career ambitions private, you’ll be better able to maintain a positive reputation, foster respectful relationships, and ultimately advance your career without unnecessary complications.

Remember, in the workplace, less can often be more. Protect your privacy, and you’ll find it easier to focus on what truly matters—your professional growth and contributions.





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Taming the restless ‘Monkey Mind’: 6 signs and calming tips

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Do you ever feel as if your thoughts are racing, jumping from one idea to the next without pause? This restless state of mind, commonly known as the “monkey mind,” can leave you feeling overwhelmed, distracted, and unable to focus. Imagine a monkey swinging from branch to branch—never still, always moving. The monkey mind does something similar, dragging your attention in multiple directions at once. In a world filled with constant notifications, endless tasks, and overstimulation, it’s no wonder our minds are often buzzing with a mix of unfinished thoughts, worries, and ideas.

Recognising and managing a monkey mind can be a game-changer for mental clarity, productivity, and peace. In this article, we’ll dive into six telltale signs of a monkey mind and explore proven strategies to calm it down and regain focus.

6 Telltale signs of a monkey mind


1. Constant overthinking

A classic sign of a monkey mind is constant overthinking. You may find yourself analysing every detail, reliving past conversations, or stressing over hypothetical situations that may never happen. This mental loop can keep you from moving forward or making decisions, trapping you in a cycle of what-ifs.

Try to channel overthinking into action by setting a time limit for worrying or planning, and then move on. Journaling can also help you process your thoughts and release them from your mind. Practicing mindfulness by focusing on what you’re doing right now can redirect your attention away from endless what-ifs.


2. Difficulty focusing on a task

If you find yourself switching tasks frequently, unable to concentrate on one thing for long, it’s a clear sign your mind may be restless. The monkey mind is easily distracted, often drawn to anything that promises novelty or instant gratification.

Implementing techniques like the Pomodoro Method—where you work for 25 minutes and then take a 5-minute break—can improve focus. Create a designated workspace, eliminate distractions, and try using noise-cancelling headphones or listening to concentration-friendly music to help you stay on task.


3. Procrastination and avoidance

A monkey mind often leads to procrastination, especially when faced with big or daunting tasks. The mind can become overwhelmed by the task’s complexity, prompting you to avoid it entirely and instead focus on smaller, less important activities.

Break tasks into smaller, manageable steps to make them feel less overwhelming. Set a specific goal for each work session, even if it’s just to complete a small portion. Reward yourself for each accomplishment, no matter how small, to keep your momentum going.


4. Heightened anxiety or stress

With the mind constantly jumping from one thought to another, stress and anxiety levels can increase. A monkey mind often dwells on worst-case scenarios and hypothetical fears, causing a continuous cycle of worry and tension.

Incorporate regular deep-breathing exercises or meditation into your day. Slow, mindful breathing can help activate the body’s relaxation response, lowering stress levels and bringing a sense of calm. For some, a quick physical reset—such as stretching or walking—can break the anxiety loop and help you feel grounded.


5. Trouble sleeping

If your mind feels like it’s in overdrive at night, it could be because of a monkey mind. Endless thoughts and worries can make it hard to fall asleep or stay asleep, leaving you feeling exhausted the next day.

Establish a calming bedtime routine to signal your mind and body that it’s time to wind down. Avoid screens at least an hour before bed, and consider listening to a guided meditation or calming sounds to lull your mind into relaxation mode. Journaling before bed can also help you clear your mind by putting your thoughts on paper.


6. Feeling constantly distracted

A monkey’s mind craves stimulation and often finds it challenging to stay present. You may find yourself constantly checking your phone, seeking out new content, or even daydreaming when you should be focused on a task at hand.

Practice “mindful breaks” during your day—short intervals where you put down your devices, observe your surroundings and ground yourself in the present. Limiting the number of things you try to multitask can help, too. Start by giving your full attention to one task, and slowly build your focus endurance from there.


Conclusion

Our minds are naturally curious, and having occasional restless thoughts is normal. However, when the monkey mind takes over, it can disrupt our peace, productivity, and well-being. Recognising the signs of a monkey mind and incorporating calming strategies—like mindfulness, structured work sessions, and relaxation techniques—can help you regain control over your mental landscape. The next time you find your mind swinging wildly, try one of these calming techniques to bring yourself back to a state of balance and clarity.

By making mindfulness a habit and addressing the monkey mind head-on, you’ll be able to cultivate a deeper sense of peace, focus, and contentment in your daily life.





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Swiggy IPO gets oversubscribed led by QIB bids

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Foodtech giant Swiggy IPO was oversubscribed 1.07 times by Friday afternoon, the third day of its book-building process. 

Qualified Institutional buyers (QIBs), which typically invest on the last day to gauge overall market demand, came through for the company’s IPO, with the portion oversubscribed 1.52 times.

According to the BSE, non-institutional investors(NIIS) made bids for 22% of the allocated issue size, while retail investors subscribed to 97% of the portion.

The Sriharsha Majety-led company saw the quota reserved for employees being subscribed 1.38 times.

On the first and second days of the book-building process, Swiggy IPO was subscribed only 35% and 12%, respectively.

Swiggy has secured nearly Rs 5,085 crore (about $605 million) from anchor investors, including the life insurance and mutual fund divisions of HDFC, ICICI, and SBI. The anchor book attracted participation from over 75 major domestic mutual funds, along with international investors such as Astrone Capital, Fidelity, and BlackRock.

The Bengaluru-headquartered company, which competes with publicly listed Zomato and General Catalyst-backed Zepto, has set its IPO price band at Rs 371 – Rs 390 per equity share.





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