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Does Microinsurance work for India’s poor?

Microinsurance schemes target the betterment of the low-income segment whose daily income is less than ₹250 per person. The term “micro” refers to the small financial transactions generated by insurance policies. Since the introduction of the Microinsurance Regulation of 2005, 15 companies have registered more than 23 products with IRDA (Insurance Regulatory and Development Authority of India). But sadly, the Indian insurance sector has achieved a penetration rate of only 3.49% and the majority of it comes from the urban population.

Microinsurance can be delivered through a variety of channels like licensed insurers, health care providers, microfinance institutions, community-based and non-governmental organizations. Despite so many open channels and nearly 15 years of operation, microinsurance products are not easily accessible to the rural populace. 

In this article, we will discuss why private insurers are unable to reach rural India and the ways to effectively distribute these schemes to the rural mass.

Why Insurance Companies are Unable to Reach Rural India for Microinsurance Policies?

The low penetration levels and the large protection gap is a major challenge for the Indian insurance industry.

Casparus Kromhout, MD & CEO, Shriram Life Insurance
Gaps in microinsurance policies reaching rural areas

Flaws in Traditional Insurance Methods

Typically, insurance companies recruit agents who can charge their clients up to 20% of the premium as fees. Insurance companies appoint agents under the ‘Deed of Agreement’ or ‘Memorandum of Understanding’. The point is, the insurance companies and agents (or community workers) lack tight coupling. And most of the time, insurance agents don’t prefer sharing their client data with the insurer. Therefore, the insurance companies have data about the policies sold but are missing complete customer details.

Insurance companies are also the late adopters of technology. For some, budget is the constraint while for many it is the perception about technology that is creating a roadblock. There is a cost associated with building technology according to the organization’s needs, implementing it, and also training the stakeholders to use it. Although, it is a one-time investment, still, many insurance companies are hesitant to spend in technology.

Overcoming Operational Challenges in the Rural Microinsurance Space through Technology

Automating manual processes can reduce operational cost and improve efficiency. 

webinar: AI for data-driven Insurers

Join our Webinar — AI for Data-driven Insurers: Challenges, Opportunities & the Way Forward hosted by our CEO, Parag Sharma as he addresses Insurance business leaders and decision-makers on April 14, 2020.

For example, Gramcover, an Indian startup in the microinsurance sector uses direct document uploading and processing for faster insurance distribution in the rural sector.

Similarly, MaxBupa, a leading health insurance venture uses
FlowMagic automated solutions for processing inbound documents. It has simplified the operations by lowering manual dependencies and by being adaptable to the existing organizational processes.

The Scope of Consumer Technology and Insurance Companies in Microinsurance Space

Consumers value convenience. Insurance companies that can provide 24/7 services are at a bigger competitive advantage. 

However, technology alone cannot reform the microinsurance sector. There still needs to be human ‘touchpoints’ to educate rural customers. Insurance companies can deploy technology for improving operational efficiency. 
India accounts for nearly 65% of Asia’s microinsurance market, and with the right strategies that meet these challenges, insurance companies can reach out to actual Bharat — who are otherwise deprived of microinsurance benefits.

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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