As Covid-19 upends traditional functioning, insurance goes digital

With the Covid-19 pandemic having upended traditional ways of functioning, insurers are going the extra mile to adopt paperless processes, writes Subrata Panda

The insurance industry has always depended on “touch” to engender trust among its customers. But the Covid-19 pandemic, and the new norm of social distancing, has hugely altered the way it functions, prompting insurers to make the leap from manual, paper-bound processes to digital-based selling.
 

The industry had already embraced a variety of new technologies to enhance customer experience, tap into new customer bases and reduce costs. But the push to go completely digital came from the stringent lockdown imposed in March to contain the spread of the coronavirus, which disrupted traditional distribution channels.
 

General insurer ICICI Lombard, for instance,