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Insurance in the time of the pandemic

Greater digital adoption has increased the risk of fraud. Without personal interactions, assessing the risk profile of customers has become an arduous task

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Sumit Rai
The life insurance business is at an inflection point. Recognising its need for financial protection in combatting future risks, people have a better understanding of the value of life insurance in the middle of a pandemic. Notwithstanding the multiple challenges, the industry has transformed itself in a short span of time to fulfil this enhanced demand. From digitally capacitated distribution strength to robust risk-management models, India’s life insurance sector has worked hard to serve the interest of the consumer at a difficult time.
 
The past year has been a period of adjustment for the industry. This pandemic rendered the
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper