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Insurance for the New Possible

In this episode, Arijit Chakraborty and Aditya Soni challenge the status quo of finance and insurance in India. Aditya reveals how most Indians are still struggling to navigate credit, with only 15% of consumers truly understanding how to leverage it. This gap creates opportunities for companies like CheQ to simplify credit management and deliver smart, embedded finance products that guide consumers from confusion to empowerment. The real game-changer is offering products when they’re actually needed, not just when they’re available.

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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.

Aditya Soni

Founder and CEO
at CheQ

Aditya is the founder and CEO of CheQ Digital, India’s first credit management app that enables users to manage all things credit. With over 18 years of experience in payments and e-commerce, and a track record of building and scaling businesses, driving innovation, and leading teams. Prior to founding CheQ Digital, Aditya was the business head of payments and fintech group at Flipkart, India’s largest e-commerce platform, where he established and grew the fintech businesses and made the group a multi billion dollar business.

Arijit Chakraborty

SVP, Digital Business, Overseas General Insurance
at Chubb

Arijit Received Honorary Doctorate Certification from EIU, France. He’s a Business entrepreneur with a legal background who has successfully set up and operated companies and teams across Asia. With over 18 years of extensive experience in business, strategy, legal & governance roles and in Leadership roles for the last 12 years. Arijit is also recognized as Top 40 Lawyers under 40 in Asia by Asian Legal Business.

Insurance for the New Possible

Once a month, find a new episode on Insurance for the New Possible. We gathered insurers, bankers, digital platform builders, Neo banks, airlines, and large investors to discuss the innovation, transformation, and technological evolution that is redefining the massive number of possibilities in the insurance industry.

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