By Parthanil Ghosh, MD & CEO, HDFC ERGO General Insurance, for National Insurance Awareness Day.
“The penetration of Indian non-life insurance industry stands at 1% of the total GDP – which is far below the other global economies. In order to bridge this gap, insurers will need to drive awareness programmes and bring in more transparency in their processes, which can in turn boost trust among the customers.
Another major driver to improve insurance inclusion is simplifying insurance for the citizens at large, and offer meaningful propositions. This can be driven through new-age technologies, to deliver seamless processes and better experience to customers. As a ‘digital-first’ organisation, at HDFC ERGO, technologies like Gen AI have helped us to simplify our processes, speed up our claims, and thus overall is helping us to bring insurance closer to citizens than ever before.
However, awareness cannot be built by insurers alone—this is a sector shaped by, for, and accountable to people. Every policyholder who has experienced the importance of insurance carries a story that can inspire others. On National Insurance Awareness Day, I encourage individuals to share their experiences and spark conversations because real stories are what truly drive understanding and trust. When awareness grows, protection follows and that is how we build a financially confident nation.”