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Legacy insurers can't go digital overnight, says Oracle's Prasad Rai

Insurers will also need to introspect and bring about changes internally, according to PRASAD RAI, vice-president, Global Strategic Clients Group at Oracle, who spoke to Raghu Mohan

Topics
Insurance industry | Digitalisation | Oracle

Raghu Mohan  |  Mumbai 



Prasad Rai, Vice-president, Global Strategic Clients Group, Oracle
Prasad Rai, Vice-president, Global Strategic Clients Group, Oracle

The pandemic has changed the way legacy insurance firms conduct business, even as it throws up concerns on coverage terms. Some products were seen as too complex to be hawked or serviced through digital modes without insurance agents. Insurers will also need to introspect and bring about changes internally, according to PRASAD RAI, vice-president, Global Strategic Clients Group at Oracle, who spoke to Raghu Mohan. Edited excerpts:

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First Published: Mon, February 01 2021. 06:10 IST

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