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Leverage Tech to make insurance affordable: IIB

Hyderabad, May 27 (UNI) : Insurance Information Bureau of India (IIB) CEO R Raghavan today India, IT-savy nation, should use technology which is an important tool to increase the coverage of unisured population and help in reduction of the insurance policy cost.
As the total insured population in India is a very small base, the role of technology to push the product through multiple channels including Internet, Mobile will help increase the coverage and make insurance more affordable to the common man, Mr Raghavan said at the 2-day “IIRFA 2016”, the Annual Conclave of Insurance Information and Ratemaking Forum of Asia, began here.
Since Insurance is a Push Product and India is not a risk sensitive country, the Insurance companies and Government – Centre and State need to collaborate and incentivise the need for taking an insurance cover.
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