Revolutionising Financial Inclusion in the Insurance Sector

Insurtech Story Podcast

Jul 24 2023 • 22 mins

Digital public infrastructure acts as a catalyst for financial inclusion in insurance by improving connectivity, enabling digital payments, and facilitating data analysis. Through collaboration between governments and insurers, an enabling environment is created to bridge the gap and expand access to insurance products. This infrastructure empowers individuals and communities, particularly in underserved areas, by providing them with convenient access to insurance information, affordable premium payment options, and tailored insurance products based on data analysis. By leveraging digital technologies and public infrastructure, financial inclusion in insurance becomes a reality, promoting economic stability and resilience for previously marginalised populations.

Points of discussion:

1. Can you explain what financial inclusion means in the context of insurance and why it is important?

2. What role does technology play in advancing financial inclusion in insurance? Are there any specific digital solutions that have proven effective?

3. How does digital public infrastructure contribute to financial inclusion in the insurance sector? What specific elements of digital infrastructure, such as connectivity and digital payment systems, are essential for expanding insurance access?

Speaker Bio: Rajiv Malhan, is the Head of FinTech innovations and Digital Public Infrastructure at Aditya Birla Capital. Rajiv is a strategic and tech savvy leader with more than 20 years of progressive experience in conceptualising and implementing Business & Digital Transformation strategies. He works closely with the Executive Leadership Team and Business Heads across various department in BFSI Domain to develop digital & business transformations roadmap. He also collaborates and strategies to ensure, transformational initiatives are fully integrated to organisational objectives and customer expectations.

He is an expert in solving complex business problems across the organisation impacting revenue, cost and customer experience by crafting simplified journeys through digital tools. Being an expert in his field, he is invited as a Keynote Speaker at various Forums to comment on Digital Public Infrastructure, Financial Inclusion, Emerging Technologies, Customer Experience, Customer Engagement Strategies, Simplified Customer Journeys, Gamification of Services & Metaverse in Insurance Domain to name a few.