Since the notification of the IRDA in 2002, which paved the way for banks in India to operate as corporate agents, bancassurance has emerged as an important channel of distribution.By Amit Palta
The need for a sharper distribution strategy has never been more pressing, with digital disruption changing the business landscape across sectors and businesses. Covid-19 has only hastened this process of change in distribution models across industries. Distribution is a critical link that connects products with customers. For a consumer-focused company across industries, it is even more imperative to sharpen its strategy in the current context.
The life insurance industry is no different. The pandemic has driven insurance providers to integrate best practices of distribution, with convenience, safety, security and technology becoming the guiding mantra for interacting with a wider range of customers. When people could not come out of their homes due to the stringent lockdown, it disrupted…
