Financial inclusion is a goal vigorously followed by all governments the world over. Nowadays, due to technological progress, the interplay of technology with the provision of financial services is increasingly becoming quite common and yielding the desired results. The Indian technology landscape has moved fast facilitated by a huge amount of public investment. The ‘Unified Payments Interface (UPI) moment’ has become a cliché in financial circles. From the UPI moment in payments, we are now experiencing high growth in lending and insurance. Partnerships between legacy insurers and InsurTech and e-commerce platforms/networks are leading to new competencies and new, innovative insurance products. The study suggests that embedded, personalised and customised insurance products must be experimented with and introduced in government marketplaces which attract many small buyers and suppliers.

Embedded insurance, technological progress, new partnerships, personalisation and customization

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