Insurance, as a means of managing risks, was not widely accepted in India until recently. It remains unfamiliar to many individuals residing in semi-urban and rural areas. Consequently, the level of insurance penetration in India has traditionally been extremely low, particularly in the non-life segment, where it stood at a mere 4% in 2022. Historically, the insurance sector in India was dominated by public sector companies. However, these state-owned insurers were ill-prepared to cater to the vast market due to several evident reasons. They lacked the ability to innovate their...

‘How are you preparing the organization for AI?’ asked the senior Board of Director to the CEO in the most recent board meeting. A very familiar scene in most boardrooms across the world. CxO’s are faced with two key considerations - Protecting the Business and Improving Business Velocity. One one hand the thet need to figure out the workforce adjustment, Ethics of AI, Data security and address the core belief that humans cannot be replaced. On the other hand they need to increase the speed of time to market, optimize...