Pradeep Pandey

Bridging the Skill Gap in Insurance – A Collective Step Forward Honored to be part of the First In-Person LIMRA LOMA Learning Consortium Meet (India) — a pivotal gathering of L&D leaders from across the Indian insurance ecosystem. With over two decades in this industry, I see this as more than just a knowledge exchange — it's a timely collaboration aimed at building future-ready talent. Backed by LIMRA & LOMA’s global expertise, and now strengthened with India-specific content developed by IIRM Hyderabad, we’re aligning international best practices with local market needs. The discussions were rich, the intent clear: empower our people to transform the insurance landscape through structured, skill-based learning. Gratitude to the stalwarts and leaders who lent their voice and vision to this initiative. The road to capacity building is long, but with such collective momentum, the direction is promising. Kartik Sakthivel, Ph.D. Debashree Varma Ashish Kumar Dr. Roop Kumar Nagumantry Ph.D , RIMS Fellow (RF), RIMS-CRMP, FLMI, ARM™️Sumit Sah CPCU,FSRI,FLMI,ARA,AIRC,ASLI,AIC,AINS,AIS,ITP,AICM Dinesh Bojwani #VVKMohan #Insurance #LIMRALOMA #LearningAndDevelopment #TalentTransformation #InsuranceIndustry #Leadership #IIRM #FutureOfInsurance #CapacityBuilding #India #insurance4all

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𝗖𝘂𝗿𝗶𝗼𝘂𝘀 𝗮𝗯𝗼𝘂𝘁 𝗵𝗼𝘄 𝗜𝗻𝗱𝗶𝗮 𝗶𝘀 𝗯𝘂𝘆𝗶��𝗴 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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🚀 Patanjali Enters Insurance: A New Chapter in Diversification From FMCG to Financial Services — Patanjali makes its boldest move yet. In a landmark deal, Patanjali Ayurveda entered the insurance sector by acquiring a majority stake in Magma General Insurance in partnership with DS Group. Deal size? A solid ₹4,500 crore. 🔍 Key Highlights: 🔹 Target: Magma General Insurance 🔹 Products: 70+ offerings across motor, health, fire, marine & more 🔹 FY24 GWP: ₹3,295 crore | FY25 projected: ₹3,700 crore 🔹 Distribution Edge: 200,000+ Patanjali retail counters nationwide 🔹 Sector Size: India’s general insurance market worth ₹8.5 lakh crore 🔹 Vision: Aligned with IRDAI’s “Insurance for All by 2047” This move signals Patanjali’s ambition to evolve into a 360° lifestyle and services brand, expanding its influence beyond consumer goods into essential services. 🧠 What to Watch: Will Patanjali’s trust-driven brand and vast network give it an edge in a regulated, service-heavy space? #Patanjali #InsuranceIndustry #MagmaGeneralInsurance #FinancialServices #IRDAI #IndiaBusiness #FMCGtoFinance #BabaRamdev #DiversificationStrategy #LinkedInNews

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🌍 Unlocking Opportunities: 100% FDI in the Insurance Industry 💼 The Indian insurance sector is at the cusp of a remarkable transformation! The move to allow 100% Foreign Direct Investment (FDI) has paved the way for unprecedented growth, innovation, and global partnerships. Why this is a game-changer: ✅ Increased capital inflow to strengthen the insurance ecosystem ✅ Advanced technology adoption for seamless customer experiences ✅ Global best practices to revolutionize product offerings ✅ Employment generation and skill development ✅ Enhanced insurance penetration across India This is a bold step toward making insurance accessible to every individual and ensuring financial security for all. As industry professionals, it's our time to rise, adapt, and lead this transformation. Let's shape the future of insurance together! What are your thoughts on this landmark reform? Share your perspective! #InsuranceIndustry #FDI #Growth #Innovation #TransformingIndia

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𝗠𝗲𝗲𝘁 𝗧𝗵𝗲 𝗠𝗮𝗻 𝗪𝗵𝗼 𝗛𝘆𝗽𝗲𝗿𝘀𝗰𝗮𝗹𝗲𝗱 𝗜𝗻𝗱𝗶𝗮'𝘀 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗚𝗮𝗺𝗲 𝗙𝗼𝗿𝗲𝗿𝘃𝗲𝗿 Varun Dua started his career as a marketing manager with TATA AIG and Franklin Templeton. He rose through the ranks before founding Coverfox, an online marketplace for insurance. Within just three years, Coverfox became a top insurance platform. But Varun wasn't satisfied. The Insight? He realised that the insurance industry in India had many gaps. Policies were complicated, and the claims process was slow and tedious. In 2016, Varun decided to leave Coverfox to build a customer-first insurance company from scratch. That's when Acko was born. Acko's Disruption? Traditional insurance was expensive due to high commission rates (20-30%). So, Varun created Acko, selling bite-sized insurance products with zero commission and zero paperwork. This was a game-changer. In 2017, Acko raised ₹200 CR, led by Narayan Murthy and Kris Gopalakrishnan from Infosys. The big milestone came on 21st September 2017, when Acko received its final IRDA license. Acko's Journey? Acko started by selling automobile insurance directly to consumers through its online platform. By 2018, Acko had collected ₹6.53 CR in insurance premiums. But Varun discovered something crucial about the market. The Opportunity? Only 20% of India’s population was insured. So, Varun pivoted towards embedded insurance — providing additional coverage at the point of purchase. Strategic Partnerships? Acko partnered with Ola to launch in-trip insurance in 110 cities. It also teamed up with Amazon India to offer mobile insurance plans. Amazon saw the potential and invested ₹75 CR in Acko. Acko’s Growth? By 2019, Acko's insurance premiums grew 6x to ₹41.56 CR. It crossed 20 million vehicles and raised ₹450 CR from investors like Binny Bansal of Flipkart. Acko expanded its offerings into micro-loans, travel insurance, and gadget protection. By 2020, Acko had issued 650 million policies to over 60 million customers. The Milestone? By 2021, Acko reached an annual run rate of ₹1,000 CR in premiums. It raised ₹1,880 CR at a valuation of ₹7,500 CR, becoming India's 34th unicorn. Varun Dua, now a successful entrepreneur, also became an investor and a prominent face on Shark Tank India, where he mentors aspiring entrepreneurs. The Present? Today, Acko is an ₹8,800 CR company, insuring 2.8 CR customers across 8 CR policies. Its claim settlement ratio stands at an impressive 94.54%. Ready to hyper-scale your business like Acko? Just like Varun Dua, take the leap to disrupt industries and create your ₹8,800 CR company. The future of business is in your hands — are you ready to make your mark and transform your vision into reality? Start your journey today. Your success story begins now. #HyperScale #BusinessSuccess #StartupJourney #DisruptTheIndustry #Acko #VarunDua #InsuranceRevolution #Entrepreneurship

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We're proud to unveil 𝐇𝐨𝐰 𝐈𝐧𝐝𝐢𝐚 𝐁𝐮𝐲𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝟐.𝟎 — Policybazaar’s comprehensive consumer insights report that brings you a ground-level view of India’s evolving insurance behavior. Drawing from detailed conversations with 3,900+ respondents across 27+ cities — including deep insights from Tier 2 & 3 regions — this report reveals what’s working, what’s missing, and where the next wave of growth must come from. We learned that: -Nearly 𝟒𝟖% 𝐨𝐟 𝐡𝐞𝐚𝐥𝐭𝐡 𝐩𝐨𝐥𝐢𝐜𝐲𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐫𝐞𝐥𝐲 𝐨𝐧 𝐜𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐟 ₹𝟓 𝐥𝐚𝐤𝐡 𝐨𝐫 𝐥𝐞𝐬𝐬 — leaving families financially vulnerable. -A staggering 𝟒𝟕.𝟔% 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚𝐧𝐬 𝐚𝐫𝐞 𝐬𝐭𝐢𝐥𝐥 𝐮𝐧𝐚𝐰𝐚𝐫𝐞 𝐨𝐟 𝐭𝐞𝐫𝐦 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 and the long-term protection it offers. Some key regional insights that stood out: 1. In the South, a strong emphasis was placed by our respondents on the financial strength of the insurance company (45%) and the surety of claims (27%), reflecting a desire for stability and trust in the insurer. 2. In contrast, respondents from the North focused more on securing high coverage (55%) and leveraging income tax savings (28%). Meanwhile, the West showed a clear preference for affordability, with 52% prioritizing low premiums when choosing a policy. While digital platforms are revolutionizing insurance accessibility, our agent partners remain indispensable in providing personalised guidance and building trust. These numbers highlight where the gaps are — and where the insurance ecosystem has a real opportunity to make a difference. Read the full report here: https://lnkd.in/dTe3rqSq

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Bharatsure, an Insurtech startup, has secured Rs 6 crore in a funding round led by Inflection Point Ventures (IPV) with participation from Capital A and Atrium Angels. The startup plans to use the funds to grow its insurance platform and offer more embedded and group insurance plans across India. Anuj Parekh | Sanil Basutkar | Sumi Jain Read full article link in the comment👇 #Bharatsure #Insurtech #funding #startupnews #mumbai #viestories

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Individual agent Data for 25-26 till Aug 2025 Highlights: # Industry grew the resources just by 2% and Pvt companies by 5% # After many decades we could observe shrinking of agency forces of LIC- notable fact is 95% of business of LIC procured through agency force. Company think tank still in Utopian state to expect market share recovery, retail business share has gone down below 30% # A few private companies showing no intent to grow with showing negative agency force- Central generali, Shriram Life, Bharti Axa and ABSLI- a serious question and concern about what the companies are trying to do. In the pretext of consolidation and quality improvement- leadership teams actually killing the worth of the companies # Newer companies showing rapid growth- Digit life started their agency force, India First, Star Union dai ichi, Ageas federal, Axis Max showing double digit growth # bigger players like SBI Life, ICICI, HDFC, TATA still growing visibly and showing intent to diversify to maintain top line # Bank promoted companies started having standalone agents too # Agency- which is key for retail sales in a 140 crore nation being neglected for a long and whole domain's growth stagnation and inability to spread to tier 2/ 3 cities is only due to this # The neglect is naive amidst so many experts fully knowing the power and depth of agency channel, we are yet to see tech+agent, hybrid model to take any shape sooner. # Insurance for all by 2047 can not be achieved by online direct selling, banks forcing insurance or corporate agents/ brokers rushing with any quality sales- it requires massive agency force, waiting to see who brings any disruption in agency with making the profession preferred and justified working longer.

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#Digital #First #Citizen #Always India’s public sector insurance is on the cusp of a digital renaissance. When transformation is not an option but a mandate, innovation is inevitable. From AI-led claims processing to digital KYC and contextual product innovation, this is the moment to pivot. 📊 Here’s the opportunity staring us in the face: ✅ General insurance penetration in India is just 1% of GDP, while the global average stands at **4.2% ✅ Only 30 crore Indians have general insurance, leaving a massive population underserved ✅ The global insurtech market is growing at a CAGR of 46% but India contributes less than 2% ✅ India Stack’s infrastructure enables a 20x faster onboarding process through digital rails 🛠️ What’s needed? * End-to-end digital journeys * AI/ML to cut down claims TAT by 50%+ * Contextual products for Bharat 2.0 * Proactive grievance resolution using tech & empathy 💡 The time to transform is not tomorrow. It’s today. A bold digital blueprint isn’t just good business - it’s national service. #DigitalInsurance #Transformation #PublicSector #Insurtech #InsuranceForAll #BharatFirst

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The Bancassurance model where banks act as corporate agents for selling insurance has seen tremendous growth in India. While it provides banks with an additional revenue stream and insurers with access to a vast customer base, its execution has raised serious concerns regarding customer transparency and long-term protection needs. 1. Mis-selling to Layman Customers: Trust Exploitation: Customers tend to trust banks implicitly. This trust is often misused by bank staff to push insurance products as investment tools, without explaining the risk, lock-in periods or the actual purpose of insurance protection. Quota-Driven Sales Pressure: Bank staff are usually incentivized with aggressive sales targets, leading to product pushing rather than need-based selling. Lack of Product Understanding: Frontline banking personnel may not be trained adequately to explain complex insurance products, leading to incorrect or incomplete communication. 2. Compromising Long-Term Protection Goals: Many products sold are single-premium or ULIPs rather than pure protection (term) plans, which limits financial protection for families. Laymen are often not aware that they are purchasing insurance, it is sometimes bundled with loans or savings accounts. 3. Ignoring the Spirit of “Insurance for All by 2047”: IRDAI’s mission aims for inclusive, affordable and comprehensive insurance coverage for all citizens by 2047. Bancassurance, in its current form, focuses on profitable, high-ticket urban clients, ignoring rural and underinsured segments. The model undermines the awareness and education required to truly democratize insurance. For India to achieve Insurance for All by 2047, the Bancassurance model needs reform. Ethical selling practices, stronger regulation, robust training and a shift from profit-first to customer-first approach are imperative. Only then can insurance fulfill its fundamental purpose for financial protection for all. #InsuranceForAll2047 #Protection #Bancassurance #EthicalSelling #CustomerFirst #Regulation

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Bandhan Life Insurance has appointed Maneesh Mishra as its Chief Product and Marketing Officer, strengthening its leadership in product innovation and strategic marketing. With over two decades of experience in the life insurance sector, Mishra brings deep expertise in product development, sales strategy, and corporate partnerships. Before joining Bandhan Life Insurance, he played key roles at IndiaFirst Life Insurance and HDFC Life, driving business growth through bancassurance and distribution-led models. In his new role, he will focus on expanding the company’s product portfolio, enhancing customer engagement, and strengthening brand positioning. Under the leadership of Managing Director & CEO Satishwar B, Bandhan Life Insurance is committed to customer-centric solutions and sustainable expansion. The company has been scaling its workforce and enhancing innovation to strengthen its market presence. With Mishra’s strategic vision and expertise in product lifecycle management, Bandhan Life Insurance aims to deepen market penetration and deliver greater value to policyholders. #BandhanLifeInsurance #Leadership #InsuranceIndustry #Marketing #ProductInnovation #Bancassurance #ManeeshMishra #BusinessGrowth #CustomerEngagement #InsuranceEcosystem

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