Several insurance companies on Wednesday stressed upon the need to use right technology to manage risks.
Speaking at a CII session here, B K Nayak, DGM of National Insurance, said it was not possible to ignore technology to sustain operations in this competitive environment.
Technology would be used to manage technology-related risks, he said adding that it would also help perceive disruptors as competitors.
She said companies needed to gear up for this or face the risk of being redundant.
Saurabhh Chaturvedi of HDFC Life said National Pension Scheme was one of the major initiatives taken by the government which would help in building up a corpus for the future as well as a tax saving instrument.
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