Application of Technological Changes in the Insurance Industry in India

Abstract

Digital India – the dream project of the government and a blessing for the citizens,could help in connecting the dots of various projects, past and present, to bring India to a global platform. It will help in moving with the universal trends of digital innovation and create positive impact in the lives of people -rural and urban, young and old. Insurance companies today are on the brink of big technology-driven changes and insurers need to rethink their customer engagement model. In this paper we have discussed about the importance of digitalization on the growth of the economies, the digitalization process in India and a study of the Insurance Industry since independence and the future of a digital insurer in the Indian context.