India InsurTech Summit 2023 | Point To Business Services | 5 October 2023 | Virtual Event

India is seeing massive growth in the InsurTech landscape, thanks to emerging consumer segments across multiple demographics. The transformation is led by the need for contactless and paperless insurance via digital channels. The insurance industry has shifted focus from conventional strategies towards technology adoptions driven by the need for better reach, and a rapidly changing regulations ecosystem. The insurance industry must keep adapting to newer business models supported by newer technologies to grow faster in the coming years.

InsurTech Emergence is a curated executive level meeting, which offers strategic recommendations to help your organization navigate the Indian insurance industry, and be a part of bringing insurance innovation to life with insurance big hitters and next-gen disruptors.

The State of Indian Insurance Industry
• India ranked 10th in life insurance 14th in non-life insurance in the world.
• Insurance market in India is expected to reach US$ 222 billion by 2026.
• Robotic Process Automation (RPA) and AI will occupy center stage in insurance, driven by newer data channels, better data processing capabilities and advancements in AI algorithms.
• Private Life Insurers are expected to grow their retail APE at a CAGR of over 17% between 2021-23
• The Private Non-Life insurance segment is forecasted to grow at 14% in FY23
• India is the second-largest insurance technology market in Asia-Pacific, accounting for 35% of the US$ 3.66 billion insurtech-focused venture investments