Bhanudas Rawade

Indian insurance agents operate in an offline-first, paper-heavy ecosystem. #GenAI is now transforming from a backend engine to a frontline ally — empowering agents with insights, clarity and speed. 👤 Layak Singh Head - Artivatic.ai (Insurtech & Healthcare Platform ) Click here to read the full article 👉https://lnkd.in/gJaeewim #ArtificialIntelligence #Technology #Digital #Insurance

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𝗖𝘂𝗿𝗶𝗼𝘂𝘀 𝗮𝗯𝗼𝘂𝘁 𝗵𝗼𝘄 𝗜𝗻𝗱𝗶𝗮 𝗶𝘀 𝗯𝘂𝘆𝗶𝗻𝗴 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲? Hear from Amit Chhabra, CBO – General Insurance at Policybazaar.com, as he shares key takeaways from our latest consumer insights report – How India Buys Insurance 2.0. This report offers a deep dive into changing consumer behaviors, preferences, and the persistent gaps in insurance awareness. Amit also emphasizes why India continues to be an underinsured market and how Policybazaar is working to bridge this critical gap through data, tech, and trust. Insightful, data-backed, and timely — Access the full report here: https://lnkd.in/diTTGHYB #HowIndiaBuysInsurance #Policybazaar #AmitChhabra #InsuranceInsights #Underinsurance #ConsumerTrends #Insurtech

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Axis Max Life Insurance's CEO, Sumit Madan, joined a thought-provoking panel on the Edge on Unknown during the NDTV World Summit 2025. He spoke about how despite massive progress, India is still on lower scales with its life insurance penetration and that gap is where the next big opportunity lies. It was an inspiring conversation on how life insurance can shift gears with help of new technology. Disclaimer: https://bit.ly/46fR9Tt ARN : 14112025/AMLI/SM/NDTV

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Tata AIG exits Max Hospitals’ cashless network — the 3rd insurer to do so after Star Health and Niva Bupa. For policyholders, this means the end of cashless treatment at Max. You’ll now need to pay the hospital bill upfront and claim reimbursement later. The reason? A standoff over tariffs. Insurers are pushing for lower treatment costs to control claims, while hospitals argue that further cuts are unsustainable and compromise patient care. Cashless hospitalization was meant to reduce financial stress and ensure smooth access to healthcare. But repeated breakups between insurers and hospitals are weakening trust in the system. Looking ahead, more disputes seem likely unless tariffs are standardized or regulators step in. Exclusive tie-ups between insurers and hospitals could emerge, but either way, policyholders will have to keep a closer eye on whether their preferred hospitals remain in-network. The takeaway: cashless is no longer guaranteed. Always check your insurer’s hospital list, because in emergencies, that check could save you a huge financial shock.

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Elevating Sales: Training the Health Agency Channel in India's Insurance Sector In India's dynamic health insurance sector, building a robust and effective sales team is crucial for success. The Health Agency channel, comprising a network of agents and advisors, plays a pivotal role in reaching a vast customer base. However, training these agents to navigate the complexities of the insurance landscape and drive sales requires a strategic and comprehensive approach. Key Elements of Effective Sales Training To empower your sales team and enhance their productivity, consider the following key elements: Product Knowledge: A thorough understanding of health insurance products, including their features, benefits, and exclusions, is essential. Equip agents with the knowledge to address customer queries confidently and provide tailored solutions. Sales Process: A well-defined sales process, from lead generation to closing the deal, provides a structured framework for agents to follow. Training should focus on building rapport, conducting needs assessments, handling objections, and closing deals effectively. Communication and Interpersonal Skills: Effective communication is paramount in building trust and rapport with potential customers. Training should focus on active listening, clear and concise communication, and the ability to build relationships. Market and Industry Knowledge: Understanding the Indian healthcare landscape, including trends, regulations, and competitive dynamics, is crucial for agents to thrive. Training should provide insights into market trends and best practices. To implement these strategies effectively, consider the following model: Needs Assessment: Conduct a thorough needs assessment to identify the specific training and development needs of your sales team. Training Design: Develop a customized training program that addresses the identified needs and aligns with the company's goals. Delivery and Implementation: Deliver the training program through a mix of classroom sessions, online modules, and on-the-job coaching. Evaluation and Measurement: Continuously evaluate the effectiveness of the training program and make necessary adjustments to ensure optimal results. Continuous Improvement: Regularly review and refine the training program to adapt to changing market conditions and evolving customer needs. Conclusion By investing in comprehensive training and development, fostering a supportive agency channel, and leveraging technology, health insurance companies can empower their sales teams to achieve success in the Indian market. By focusing on product knowledge, sales processes, communication skills, and market understanding, agents can build strong relationships with customers and drive sustainable growth for the organization #InsuranceSalesTraining #AgencyChannel #SalesProductivity #IndianInsurance #SalesLeadership #InsuranceTraining #HealthAgency

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Dinesh Mosamkar, Senior VP, Consumer Underwriting at TATA AIG General Insurance, gives key insights into the growing demand for global health coverage. From treating rare conditions abroad to understanding cashless claims and choosing the right policy features. Here’s what every policyholder should know before going global. 📖 Full story on CNBC TV18: https://lnkd.in/gXmcWjCH

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Niva Bupa Health Insurance has announced the elevation of Nimish Agrawal to Director, Digital Business Unit & Chief Marketing Officer (CMO). This strategic move reflects the company’s focus on scaling its high-performing digital channel, one of its most profitable and fastest-growing business units. In his expanded role, Nimish will lead the P&L of the Digital Business Unit alongside his current marketing responsibilities. With over 17 years of experience in brand strategy, growth marketing, digital transformation, and P&L leadership, Nimish brings a robust track record of driving impact across industries. Before joining Niva Bupa, he held senior marketing roles at AkzoNobel, Naukri.com, and Britannia, where he managed iconic brands like Dulux Velvet Touch, Little Hearts, and Pril. Under Nimish’s leadership, Niva Bupa is poised to further accelerate its digital and customer-centric transformation in the evolving health insurance landscape. #NivaBupa #NimishAgrawal #DigitalLeadership #CMOIndia #HealthInsurance #MarketingExcellence #DigitalTransformation #GrowthStrategy #InsuranceTech #LeadershipUpdate

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📈 What if health insurance worked like an investment plan for your health? Watch Viren Shetty, Vice Chairman of Narayana Health in conversation with Dr. Pankaj Jethwani, Managing Partner of W Health Ventures about a new approach to health insurance, not just as selling policies but as a long-term patient partnership. 🚀 A bold re-think of how insurance can actually work for patients. 🎧 Full episode here: https://lnkd.in/gkTuWN_U 2070 Health, Gaurav, Bhavesh #Healthcare #HealthInsurance #Innovation

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Why Standalone Health Insurers Are Winning the Profitability Game in Retail Health in India’s fast-evolving health insurance landscape: Standalone Health Insurers (SAHIs) are consistently outperforming Private Sector General Insurers in the retail health segment—not just in growth, but in profitability. Here’s the data that tells the story Combined Operating Ratio (COR) – FY2023–24 – Retail Health SAHI Incurred Claims Ratio - 65% Expense + Commission Ratio - 30-35% Combined Operating Ratio - 95-100% Private General Insurers incurred Claims Rati - 89% Expense + Commission Ratio - 20-25% Combined Ratio - 109-114% Trend Over Time SAHI Vs Private General Insurers FY 2020 - 95-98% [105-110% for GI] FY 2021 - 100-105% [115-120% for GI] FY 2021 - 98-102% [112-117% for GI] FY 2022 - 96-100% [112-117% for GI] FY 2023 - 96-100% [109-114% for GI] What’s Driving SAHI Efficiency? 56% Retail Health business lies with SAHI players, 23% with GI players abd 21% with PSUs. 1. Focused underwriting and health-only specialization 2. Tech-led claims management and fraud control 3. Granular data on health risks and customer behavior 4. Lean distribution models with digital-first strategies 5. Hospital network economics: Concentrated, negotiated retail tariffs and pre-auth flows reduce leakage vs diffuse networks built primarily for group Distribution built for retail: Large agency force + brokers/online direct → better risk selection and upsell of Top-up cover/co-pays/sum insured ladders SAHIs also derive advantage from the regulation that an agent can choose to align with both a general insurer and health insurer Distribution depth (retail engine): 5 SAHIs had 13.06 lakh agents vs ‾6.49 lakh across 25 private multiline GIs, powering SAHIs’ retail reach Meanwhile, private general insurers—despite scale—struggle with higher ICRs and legacy cost structures. Let me also add, SAHIs have the highest repudiation Ratio and the maximum complaints. Way forward (to improve Retail Health loss for Private GIs) Create SAHI-like retail cells: Dedicated retail-health underwriting, pricing actuaries, and claim control squads; Rebuild hospital networks for retail: Tariff renegotiation, stricter pre-auth, clinical audit, and post-discharge checks tailored to individual policies. Precision pricing & segmentation: Risk-tiered products (co-pays/deductibles/OPD riders), dynamic renewal pricing using claim/behavior signals. Close the distribution gap: Expand tied agency and broker partnerships; leverage digital direct journeys that mirror SAHI best practices. Fraud/wastage analytics: Invest in early-warning models and provider scorecards to curb leakage—especially in high-incidence procedures Health is the largest portfolio in GI and no insurer can afford to ignore the growing portfolio. Growth with Profitability is key.

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AI is not just enhancing underwriting, claims, and fraud detection, it’s reimagining how insurers assess risk, engage customers, and drive operational efficiency.   Catch the latest insights in Asia Insurance Review, where Shailesh Dhuri, Pravas Kumar Sahoo, and Naimuddin Shaikh of Decimal Point Analytics explore “The AI Revolution in Insurance: From Tradition to Transformation.”   📄 Read the full article in the attached PDF.   #InsuranceTransformation #AIinInsurance #UnderwritingInnovation #ClaimsAutomation #RiskIntelligence #InsurTech #DecimalPointAnalytics #AsiaInsuranceReview

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AI is more than just a buzzword—it’s transforming commercial specialty insurance in real ways! The insurance landscape is evolving fast—it’s very important for carriers to stay ahead of the curve! In this exclusive interview with The Times Of India, our EVP & Global Head of Insurance, Rajeev Batra delved into some of the key points for the Insurance industry: ✅ How AI can help analyze hard-to-insure risks, such as cyber liability, or coastal property insurance ✅ Predictive modeling to identify trends and improve loss ratios before they translate to claims issues ✅ How AI can monitor and interpret changes in state-specific surplus lines regulations, ensuring compliance with tax and reporting requirements ✅ And how AI can automate First Notice of Loss (FNOL) and triage claims based on severity and complexity. 📌 Read the full interview here: https://lnkd.in/eBjPs94q   #AI #InsureTech #SpecialtyInsurance #EngageWithTheEmerging #Coforge

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#GeneralInsurance Flash Report Jan 2025 Highlights 1) Growth for the domain slowed down for Jan 2025 and overall growth came down to just 7% 2) The growth of stand alone health Insurers too gone down for the months and annual growth is now 18% still better than General Insurers 3) A few big companies showing de-growth. Bajaj Allianz, IFFCO Tokio, HDFC Ergo 4) Interestingly monthly growth of State owned PSU Insurance companies were far better and their annual growth increased too. All companies surpassed the overall industry growth average 5) With so much things happening, nation at growth trajectory, macro indicators improving- low growth of General Insurance domain is of concern and can not be explained by easy terms. This is when the penetration has gone down 1% below level

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