BS BFSI Insight Summit: Onus on life insurers to transform biz, say experts

The life insurance industry saw massive disruptions in the initial period of the pandemic

Though the Coronavirus (Covid-19) pandemic has heightened the risk perception of customers thereby increasing the demand for insurance, it is upto the insurers how they capitalise on the opportunity and transform their business to cater to the ever-evolving needs of the customers, said panellists at the Business Standard BFSI Summit on Life Insurance.

“It is upto us what we do with this inflexion point. We should not waste a pandemic; innovation is key. If we rest on our laurels to say that as an industry we have come through this relatively unscathed, I think we would lose this opportunity,” said