India, with all its diversity in income patterns, education levels, occupations, etc., is a vast experimental playground for insurance products while focusing on the most financially vulnerable. Collaboration and disruptive emerging technologies will serve as a forum for innovation and value proposition; this is need at this juncture for a more economically inclusive society.

The Primary Sales channel for any Insurer till now is through an Insurance Agents. Since the start of the InsurTech movement, the role of agents has become crucial. Anyone who assumed to replace agents with automation and AI, and excludes those agents from the distribution chain are missing a critical part of the industry. To remain relevant, customers, agents and carriers must embrace emerging technology along with maintaining its personal touch. Agents who bring profitable business to pages are still valued and integral part of the insurance distribution chain. 

At the heart of Blockchain-technology is a distributed ledger. The blockchain’s distributed ledger is a great way for insurers to collaborate and track suspicious behaviour. The transparent nature of blockchain enables a greater degree of trust fostered upon either of parties. It allows insurers to record transactions permanently and makes it easier to detect key fraud patterns, such as: