IndiaFirst Life on Insurance Industry Challenges

The video discusses the factors contributing to achieving business goals, the impact of COVID-19 on the insurance industry, and the resulting growth in market share. It highlights the shift towards digitalization and the use of AI for customizing policies. The speaker emphasizes the importance of technology in reaching diverse customer bases and maintaining high retention rates.

What combination of factors is emphasized as crucial for achieving business goals?

• Having a large customer base

• Minimal investment in technology

• Best products, processes, and technology

• High employee turnover

How did COVID-19 change the perception of life insurance?

• It became less popular

• It was unaffected

• It was seen as a luxury

• It was recognized as a risk management tool

What is the company's market share in terms of Nops as of August?

• 2.8%

• 3%

• 4%

• 5%

What percentage of the company's business login is digital?

• 50%

• 75%

• 99%

• 100%

What is the second largest area of spending for the company after human resources?

• Marketing

• IT

• Research and Development

• Customer Service

How is AI being used by the company in its operations?

• To reduce employee numbers

• To eliminate customer service

• To customize insurance products

• To increase manual processes

What is the company's approach to distribution channels?

• Relying solely on online sales

• Accessing rural areas through common service centers

• Using a single channel

• Focusing only on urban areas