How insurance distribution can evolve in a digital world

Physical sales forces and intermediaries are responsible for the majority of insurance distribution across geographies and line of business. While the share of business conducted via these channels has been shifting during the past decade as some customers migrate online, they remain the primary channels across life, commercial, and personal lines property and casualty. But continued physical distancing is having dramatic and immediate impacts on insurance distribution. With this, we moved on to discuss: 1. The changing trends of insurance distribution towards a self-service driven model where client demands for self-service in the current environment is only getting accelerated which is eventually giving way to digital. 2. Will a shift towards self-service driven model, support a better customer service and agent satisfaction. 3. The changing distribution strategy for insurers in the near term, specifically from the Indian consumer context. 4. From a distribution standpoint, consumer behaviour is changing along with technology, and new emerging business models are disrupting the insurance industry. Considering this, what the future holds for the modern insurers and their distribution model. Highlights: Our speaker made very interesting points on collaboration and coming together of different stakeholders on regular basis for betterment of the industry and addressing key industry issues. Speaker Bio: Yashesh Sampat, is the Senior Vice President of Affinity and Association Business at Edelweiss Gallagher and he has more than 18 years of experience in the insurance profession. Yashesh is a Fellow of the Insurance Institute of India, a Chartered Insurance Broker and ACII holder with the Chartered Insurance Institute. He has played extensive role in mentoring young professionals in pursuing education as well as advancement of their career. He is a well-known face in the insurance industry in India. Yashesh is a regular speaker at various business forums in India as well as overseas and also teaches at various Education Institutions. His initiatives at work have influenced many people to get various insurance solutions and he continues to do the same.