Pitchbook IIA
As an integral component of our First 20% Program, the IIA PitchBook is designed with the mission to elevate the global presence of our esteemed IIA members. This comprehensive resource offers a swift and insightful overview of our member organizations, featuring key details about their expertise, target markets, and more.
Annual Report
India Insurtech Landscape and Trends is an annual report prepared by IIA in association with the Boston Consulting Group (BCG). This report is aimed at helping the reader get a wholesome view of various areas of the insurance industry in India that is getting influenced by the new crop of insurtech.
From covering startups to putting in thought pieces of the industry experts, this report covers trends and shifts in the insurance industry. The report aims to make an impression of the digital surge currently happening in the Insurance industry in India.
Annual Awards
IIA Annual Insurtech Awards are launched with the intent to recognise member firms for driving high standards of performance across product ideas, service excellence and advancement of InsurTech and create an environment of innovation, reward and recognition within the IIA community and the industry.
Every year, the IIA Awards are presented at the IIA Annual Event which brings together some of the most influential leaders of the global insurtech community to discuss developments and trends in the dynamic insurtech market.
The aim of the Working Group is to create a playbook for the Indian Insurance Industry that helps the industry to better leverage alternative sources of data leading to a better quantification of risks at a more granular level.
The playbook would identify minimum standards for the alternative data sources. Here, you will find the V0.1 of the Working Group’s proposal, which is a four pager document capturing IIA’s vision, principles and next steps, here.
Working Groups
Thought Leadership
This initiative aims to cultivate a community of industry thought leaders who, through their insights and expertise, drive innovation and influence positive change. We seek to foster a dynamic platform where professionals can share valuable perspectives, provoke critical discussions, and collectively contribute to the advancement of the InsurTech landscape. By championing thought leadership, IIA envisions inspiring a wave of transformative ideas that redefine the future of insurance, ensuring relevance, resilience, and sustainability in an ever-evolving technological landscape.
Podcast
The primary aim pf this initiative is to empower India's insurtech pioneers by providing a dynamic platform for sharing insights, experiences, and expertise. Through engaging podcast episodes, we aim to amplify the voices of industry leaders, foster a culture of continuous learning, and drive the growth of the InsurTech ecosystem. The IIA Podcast is dedicated to being a valuable resource for professionals, offering a unique blend of expertise and real-world perspectives that contribute to the ongoing evolution of the insurance and technology landscape.
Actuarial Community
Actuaries play a pivotal role in understanding and managing the financial dynamics of insurance companies, comprehensively analyzing revenue sources and expenditures. Their expertise positions them as key contributors to InsurTech innovation. The Indian InsurTech Association recognizes the synergy between actuaries and InsurTechs, aiming to foster collaboration.
By bridging the gap between technology experts and insurance professionals, this initiative seeks to enhance the efficiency and effectiveness of the insurance value chain. The collaboration allows actuaries to engage with emerging disruptors in the industry, fostering a dynamic environment where cutting-edge technologies address real-life challenges in (re)insurance.
The idea of the Dynamic InsurTech Landscape Map came about when we realised there was a lack of easily accessible information about InsurTechs – and a map without links is just not a very useful map in a digital world!
So we have linked every logo in the map to our InsurTech Directory which provides more information about each company and allows people to get more connected easily. So click away on the logos below to get into the details of the InsurTech scene in India. Note: you will need to sign up as a free member of TDI to get access to the InsurTech Directory (and a host of other member benefits!)
We will be updating this map every quarter, so please send any request for additions / changes / deletions using the link below.
India InsurTech Map
India InsurTech Stack
India Insurtech Association (IIA) is putting together the India InsurTech Stack (IIS). The IIS will be a set of technology and data standards and frameworks which are:
a) built by the Indian insurance eco-system through open collaboration.
b) meant to be adopted by the Indian insurance ecosystem to drive transparency, efficiency and standardization.
IIA is focusing on drafting a comprehensive India InsurTech Stack Paper over a period of 12 months, which will be developed through open collaboration amongst all stakeholders of the InsurTech eco-system.
NIA-IIA-Marsh Hackathon
The review of India's insurance protection gap is crucial amid escalating Nat-Cat risk due to climate change and pandemics. Cyber risk is also on the rise with increased digitization during the pandemic. With insurance penetration at 4% (below the global average of 7.3%), the coverage gap is expanding across all business lines. To address this, collective efforts from regulators, insurers, reinsurers, government, intermediaries, and customers are needed.
The NIA Marsh hackathon aims to explore collaborative methods among insurers, insurtech companies, intermediaries, and other sectors to innovate risk solutions and bridge the protection gap.
Bima Manthan 2022
Insurance Regulatory and Development Authority of India (IRDAI) is organizing its first hackathon – “Bima Manthan 2022” with the theme Innovation in Insurance. The hackathon invites participants to identify and develop solutions that have the potential to make insurance available to every individual in a seamless and swift manner with the use of technology and protecting the interests of the policyholders.