Health Insurance: purchase a stand-alone private insurer Now
Siddhartha Mohanty: We’ll be entirely digital at the next level, which will increase productivity as well.
- Because we will change over time, we are also interested in analytics and Ail.
- Digital transformation now encompasses more than just going paperless.
- Beyond paper, however, we will quickly adopt everything needed to expand the market, maintain it, and maintain our competitiveness.
- Many marketers believe that LIC still sells policies through agents, the branch network, and the antiquated method.
- What proportion of the new policy originates from traditional channels and what portion comes from pure digital.
- One can take both Yuma Term and Yuma Credit Life through an agent.
Many marketers believe that LIC still sells policies through agents, the branch network, and the antiquated method.
Despite the existence of digital, the majority is still agent-pushed even in wealthy nations.
Naturally, we receive 96% of our revenue from agents here; in other nations, that number is closer to 40%, 35%, or 60%.
Agency remains a dominant channel and will do so even if it’s not at 90%.
Therefore, we will prioritize digital without sacrificing the agency channel. It also generates a great deal of jobs.
Health Insurance: purchase a stand-alone private insurer Now
Here, 96% of our revenue comes from agents; in other nations, that number is closer to 40%, 35%, or 60%.
Despite the existence of digital, the majority is still agent-pushed even in wealthy nations.
It also generates a great deal of jobs. Our agent count is fourteen lakh. Everyone in their family is dependent on LIC.
What is going on with financial savings as a whole? SIPs have begun, bank liability is decreasing, and capital is flowing into stock markets.
Is that going to be a long-term problem, even for LIC?
The market ought to expand, but banks, insurance providers, and all other stakeholders play a part in the overall economy.
Because life insurance cannot be compromised, there needs to be a greater knowledge of insurance.
But because insurance used to be more like investment products plus protection, is there a structural headwind facing the insurance industry? By default, more than 20% of your savings, whatever it may have been, came from insurance, both directly and indirectly.
And at least at R.s 5 lakh plus, those tax benefits are no longer available.
However, the truth is that 24 months ago, the tax benefit on an insurance premium of Rs 5 lakh was eliminated.
Has that affected those policy buyers in that bracket?
Regarding health insurance, you mentioned that even in the absence of changes to the composite licensing rules,
You mentioned that LIC will enter the health insurance market even if the composite licensing regulations remain unchanged.
Health Insurance: purchase a stand-alone private insurer Now
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