Mobility in Insurance

Industry
Team name: Grand Prix
30026-Muthuselvan
30112-Vinoth OS
30071-Christus Divyan
30118-Chandra Kishore
30097-Rubin Chandrakanthan
30120- Karthick
3K
Insurance Market: Insights & Opportunities
Mobility trends
Uses of mobility in insurance
Mobile Technology Opportunities

Agenda
Insurance Market
With 36 crore policies, India's life insurance sector is the worlds largest
Compound annual growth rate (CAGR) of 1215 per cent in the next five years
Total market size of the insurance sector in India was US$ 66.4 billion in FY 13
Information technology (IT) services, the biggest spending segment of Indias
insurance industry at Rs 4,000 crore (US$ 666.78 million) in 2014
India ranked 10th among 147 countries in the life insurance business in FY 13
Non-life insurance premium market also grew at a CAGR of 15.4 per cent, from US$
3.1 billion in FY 03 to US$ 13.1 billion in FY 13
Total market size projected to touch US$ 350400 billion by 2020
Mobility for insurance: Leverage the power of reach
and responsiveness



In todays digital world, how do you stay relevant to your stakeholders?

Mobility Insurance Sector
Indian insurance companies are poised to spend INR 4.1 billion on mobile
devices
As the tablet market breaks through the INR 200 million mark this year,
growth is expected to be in the moderate double-digits range
in 2014 the rate of adoption of mobile devices has gone up by 35% as
compared to the same in 2013
INR 3.8 billion mobile devices market is set to grow 24% this year with
revenue of INR 926 million
Uses of Mobility in Insurance
Usage based insurance (UBI) through telematics
Better customer service and support
More effective claims processing
Sales force automation through enterprise mobility deployment
Opportunity for Mobility in the Life Insurance Value Chain
Opportunity for Mobility in the Property Casualty Insurance
Benefits of Mobile Telematics Systems to Insurer and Insured
Mobile Applications to Augment Insurance Value Chain
Components
Enhanced customer and employee experience
Increased customer satisfaction
Higher employee productivity
Improved customer and enterprise information
access
Enhanced business agility and efficiency

Advantages