India Insurtech Landscape and Trends 2021

Alpesh Shah Pranay Mehrotra Shaleen Sinha Jitesh Shah

The Indian Insurance Industry has seen significant growth and has been evolving since 2017. This year, the pandemic has prompted a significant increase in the prioritization of technology initiatives, leading to an urgent deployment of digital solutions at insurers in India and across the world. Insurers now have the opportunity to play a key role by co-creating and adapting their offerings to the new digital environment. They need to partner with digital platforms and Insurtechs to enable more personalized management and significantly increase the penetration of insurance in India. This report, authored jointly with India Insurtech Association, captures the Indian and global Insurtech landscape, trends focusing on the innovations being enabled by Insurtechs and methods to increase collaboration between the insurers and Insurtechs.