Embedded insurance and the future of insurtech

According to an industry survey, the embedded insurance industry is expected to grow by 31.9% on an annual basis to reach $56,979.8 million in 2022, with the Asia Pacific region considered to be the largest embedded insurance market. Key discussion areas: 1. In insurance, the most important part is to build your customer acquisition and retention strategies well. How do you see, embedded insurance shaping this in the days ahead? 2. Embedded insurance aims to bring coverage before a customer knows they are at risk. Essentially the industry is moving from selling insurance to buying insurance concept. Do you see any roadblocks in the process of achieving this in the near term? 3. Insurance claims is one most significant element of the insurance value chain. Do you think, embedded claims is essential to the success of embedded insurance? Speaker Bio: Arijit Chakraborty, is the Managing Director – Asia Pacific at Cover Genius, one of the fastest growing insurtechs globally. In his role, Arijit is responsible for spearheading the insurtech’s insurance and commercial partnerships and leading the regional teams in Singapore, India, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines. Prior to Cover Genius, Arijit held senior leadership roles with leading global insurers including Manulife, Zurich and Tokio Marine. He is actively involved in the start-up ecosystem and for the past few years has been an active contributor to the growth of some of the region's most well-known insurtech businesses. Arijit holds a Master of Laws from the National University of Singapore.