Abstract
Purpose
Digital transformation of the insurance industry in India has brought about greater efficiency improved in the functioning, better customer experience through innovative products. It has also opened up opportunities for collaboration between traditional insurance companies and technology driven start-ups, fostering a dynamic and competitive landscape. The integration of IOT(Internet of Things) devices with insurance, especially health insurance is a prime example of how digital innovation is reshaping the insurance landscape in India and globally. IOT devices are interconnected devices that can collect and exchange data over the internet and when integrated with insurance offerings, they can bring about several benefits for both insurance companies and customers. In this paper we will analyze the trends in digital transformation of insurance sector.
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