Insurtech enjoys an Indian Summer
Despite many years of progress, 92% of risks that should be insured in India are not, a phenomenon known as the protection gap, and 75% of people either do not have health insurance or have coverage that is totally inadequate.
A decade ago, insurance executives lived a charmed life. The industry operated more like a private club than a competitive industry, with its own rules and its own jargon. Occasionally, an expensive catastrophe or the regulator’s unhelpful insistence on ethical practices would interfere, but mostly they enjoyed plain sailing.