Insurers are going digital, but their systems are far from robust

Many companies are using the building blocks in which they have invested to expand their digital offerings instead of taking the bold gambit of installing a new operating system

Could an “outage” like the one that happened at HDFC Bank rock one or more of the insurance companies too? We do not know the details of the three incidents at the HDFC Bank that prompted the Reserve Bank of India to bar on December 3 India’s largest bank by market cap from launching new digital products, including credit cards, after complaints that customers had faced outages in internet banking in the past two years. If it could happen to the bank with one of the largest tech budgets, the implications for lesser padded insurance companies are serious. 

Banks and