CAMSRep is one of the India’s leading Insurance Repository Services Company.
CAMSRep was the proud partner of the recently concluded ET Insurance 2nd Annual Summit in Mumbai. Many of the industry experts, thought leaders attended this summit.
Mr Joydeep Roy – Director CAMS Insurance Repository Services Ltd was the Moderator for a panel discussion on “Building the industry – Role of channels in shaping the Industry”.
Summary of his thoughts:
The Life Insurance Industry is slowly maturing in its distribution landscape in response to consumer demand for quality and choice.
Technology will play a big part in the future from comparison engines to application process, from customer services to claims – and migrating to dematerialized policies in an Insurance Repository is a natural extension to serve the customer .
Companies who thrive in a digital environment will be able to manage large agency forces and bancassurance with ease.
Incidently in the session on Life Insurance: Challenges and scope as the market grows, the participants said they believed the Insurance Repository should be made mandatory and would be approaching IRDAI for that. This they believe would help the industry save on Operating costs and enable them to grow faster.
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