The Evolving Role of Insurtech in India: Trends, Challenges and The Road Ahead

Abstract

Over the last five years, the Indian insurtech sector has shown a significant growth due to its impressive performance and future potential. The growth has, so far, been a balanced one spread over all the key sub-segments. The present article is an attempt to look into the growth story to identify the motivating factors behind the same. The article also attempts to assess the major trends in Indian insurtech sector that have the potential of a game changer. It also assesses the hurdles that the sector will need to overcome to continue this momentum. Finally, the article makes a neutral assessment of the future potential of the sector at the backdrop of the present insurtech ecosystem comprising of the regulatory framework, market dynamics and competitive landscape.