 "Fintechs in the country have grown in the last decade, both in the number of entities and scale. The key growth sectors have been payments, credit, insurance and wealth management, fuelled by angel investors, venture capital (VC) and private equity.")
The insurance industry can use technology to assist customers and reduce grievances about delay and rejection of claims, according to experts.
Satyajit Tripathy, member-distribution at the Insurance Regulatory and Development Authority of India, said that in the non-life insurance sector grievances were mostly related to claims — either rejection or underpayment.
Artificial intelligence (AI) and automation are helping the general insurance industry's processing of claims by improving accuracy, communication and resolving customer complaints, said Shashi Kant Dahuja, executive director & chief underwriting officer, Shriram General Insurance.
Customer grievance in health insurance is usually regarding unclear communication about
