Insurance for the New Possible was joined by Arijit Chakraborty, SVP at Chubb, Global Digital Team and Aditya Soni, the Founder and CEO of CheQ.
Some of the insights they shared included:
- How embedded finance has evolved in India over the last decade while introducing the concept of UML – Understanding, Management, and Leverage—as a framework for the stages consumers go through in their relationship with credit. The ultimate goal is to help consumers leverage credit to enhance their lives.
- Embedded insurance has become a mainstream alternative revenue stream in India for many platforms, ranging from FinTech companies to e-commerce giants.
- The importance of context in offering financial products. They emphasized that without context, embedded insurance products could feel intrusive or irrelevant, leading to suboptimal user experiences.
- Penetration and awareness remain key challenges. Despite the growing digitization of financial services and insurance, many consumers are still unaware of the products available to them or how they work.
- How FinTechs and Insurers plan to leverage data to create personalized, contextual financial products. Understanding a consumer’s credit behavior, products that feel relevant and timely can be offered, enhancing the customer’s overall experience.
- How embedded finance has evolved in India over the last decade while introducing the concept of UML – Understanding, Management, and Leverage—as a framework for the stages consumers go through in their relationship with credit. The ultimate goal is to help consumers leverage credit to enhance their lives.
- Embedded insurance has become a mainstream alternative revenue stream in India for many platforms, ranging from FinTech companies to e-commerce giants.
- The importance of context in offering financial products. They emphasized that without context, embedded insurance products could feel intrusive or irrelevant, leading to suboptimal user experiences.
- Penetration and awareness remain key challenges. Despite the growing digitization of financial services and insurance, many consumers are still unaware of the products available to them or how they work.
- How FinTechs and Insurers plan to leverage data to create personalized, contextual financial products. Understanding a consumer’s credit behavior, products that feel relevant and timely can be offered, enhancing the customer’s overall experience.
Find this episode on :
