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Arun Agarwal

Arun Agarwal

Arun is a senior executive with over 24 years of experience in the BFSI sector. He has worked with leading insurers like Aviva and Pramerica Life and has led teams towards the achievement of the organization's long & short terms business goals. As an insurance domain expert, Arun has made significant contributions by driving excellence across operations, sales management and compensation policies and execution, financial planning & business strategy, MIS and regulatory reporting functions.

Recent Posts:

Insurance Agents - Will They Disrupt or Perish?

The past two decades of the insurance industry has seen a lot of experimentation of distribution models: Max Life starting with a multi-level marketing model, Aviva trying to build both agency and bancassurance channels simultaneously, Canara HSBC starting with only bancassurance model and experimented with an agency in between, Pramerica Life & HDFC Life replicated agency sales channels to target a cluster of consumers formed, basis occupation or usage of common services.

Powering Insurance Agents with AI

In the post-CoVID-19 era, a tremendous amount of focus, time, and energy has been invested in understanding the customer or policyholder based on the insurer's proprietary data and the data collected by many other research agencies. The customer is deeply analyzed and offered customized or personalization, as we call, solutions and offerings. However, the investment made by insurers has only been focused on 5% of the number of policies sold or approximately 11 Lacs policyholders, that are sold by direct sales, web aggregators, and online sales. This begs the question, why are insurers only investing in distribution channels that represent 5% of the number of policies sold?

Data-Driven Insurance: The Challenges Faced by Data Scientists

In my earlier blog, “Data-Driven Insurance: The New Normal in the Post-Pandemic World,” I concluded that in the future, the insurance industry would be data-driven. Not only data-driven, but we’ll see the use of emerging technologies like Artificial Intelligence, Image Recognition, and Natural Language Processing BOTs will be the buzz words in the corridors of the Insurance industry.

Data-Driven Insurance: The New Normal in the Post-Pandemic World

This is the age of data. This pandemic has forced us to find new ways to get our work done without putting ourselves in danger. Consumer buying behaviours have changed in order to adjust to this new normal in the post-pandemic world.  Before we talk about the changes in the business to navigate in the next two years, we should have a glimpse of the insurance business: What, How, and Why of the insurance business.

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