Alpesh Shah (for Info only, not official)

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Alpesh Shah

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    ...It is extremely odd that doctors over engage with the patients even when the intervention does not require more than two hours and at times even advise the patient to spend the night at the hospital. Surely this has happened with many of us. This is driven by the nature of health insurance products in India, wherein most products do not cover OPD or out patient department treatment, only hospitalization. With data explosion, digitalisation and the emergence of the Internet of things (IoT), primarily the connected human, nowhere in the world are the prospects of integrating technology and data higher than in the Indian health insurance sector, with a large transformation opportunity presented by a largely underinsured population, increasing health consciousness, and the availability of data and digital advancements. More From Livemint » Insurers and insure-techs are innovating rapidly to change the way you will buy health insurance. ...

    Live Mint on July 6, 2017, 1:50 a.m.

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    ...In addition, the impact of anti-collision technology powered by the Internet of things (IoT) has got insurers concerned. The core of the motor insurance business, which is accident risk, is clearly at risk. Motor Insurance 2.0, a joint report by The Boston Consulting Group and Morgan Stanley, written in 2016, predicts that by 2040, motor insurance could decline by as much as 80% in mature markets. Luckily for Indian motor insurers, the prospect of driverless cars is some time away and market growth is also not a concern. Yet, technology advancements, the increasingly connected world and the ability to collect and process data is transforming the Indian motor insurance industry. Customer experience is about to improve drastically across sales, service, renewals and claims along with increased breadth of products. ...

    Live Mint on July 5, 2017, 12:57 a.m.

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    ...Three key developments are redefining how insurance business will be done. The advent of tablets, the explosion of smartphones and the rapid reduction in the cost of computing, coupled with advanced technologies like machine learning, artificial intelligence and bots, is allowing insurers to completely re-imagine their business models. Combine this with the emergence of the connected world—the true Internet of Things (IoT), with a wide variety of devices connected to capture rich real-time data. Connected cars, humans and even homes is soon going to be the norm. The third development is the ability to garner and use data. Data is really the new oil. More From Livemint » The combination of these three developments enables the delivery of a world class experience to customers across various digital channels. The business of insurance is being completely redefined. ...

    Live Mint on July 4, 2017, 1:10 a.m.