Revealing the Indian Insurance Repository System: A Turning Point Towards Customer-Centricity

Abstract

Rapidly shifting technology, as closely tied to consumer-driven expectations, is driving metamorphosis in India’s insurance industry. The repository system, which is a discontinuity and therefore moves the insurance industry to innovation more responsive to customers’ interests, is key to these changes. This new model breaks away from the usual, boxed in mode by blending data management, speeding service, and varying the products. With the help through the repository system, the client view that is provided is all encompassing and hence allows for products customization alongside individualized services. In fact, it is more than a technology update; it is a calculated move away from the producer-centricity that has ruled insurance and towards including customer-centricity where one has a redesigned, responsive, transparent, and individualized insurance market that puts the customer at the heart of the operations and design.