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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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Smart Manufacturing Dashboards: A Real-Time Guide for Data-Driven Ops

Smart Manufacturing starts with real-time visibility.

Manufacturing companies today generate data by the second through sensors, machines, ERP systems, and MES platforms. But without real-time insights, even the most advanced production lines are essentially flying blind.

Manufacturers are implementing real-time dashboards that serve as control towers for their daily operations, enabling them to shift from reactive to proactive decision-making. These tools are essential to the evolution of Smart Manufacturing, where connected systems, automation, and intelligent analytics come together to drive measurable impact.

Data is available, but what’s missing is timely action.

For many plant leaders and COOs, one challenge persists: operational data is dispersed throughout systems, delayed, or hidden in spreadsheets. And this delay turns into a liability.

Real-time dashboards help uncover critical answers:

  • What caused downtime during last night’s shift?
  • Was there a delay in maintenance response?
  • Did a specific inventory threshold trigger a quality issue?

By converting raw inputs into real-time manufacturing analytics, dashboards make operational intelligence accessible to operators, supervisors, and leadership alike, enabling teams to anticipate problems rather than react to them.

1. Why Static Reports Fall Short

  • Reports often arrive late—after downtime, delays, or defects have occurred.
  • Disconnected data across ERP, MES, and sensors limits cross-functional insights.
  • Static formats lack embedded logic for proactive decision support.

2. What Real-Time Dashboards Enable

Line performance and downtime trends
Track OEE in real time and identify underperforming lines.

Predictive maintenance alerts
Utilize historical and sensor data to identify potential part failures in advance.

Inventory heat maps & reorder thresholds
Anticipate stockouts or overstocks based on dynamic reorder points.

Quality metrics linked to operator actions
Isolate shifts or procedures correlated with spikes in defects or rework.

These insights allow production teams to drive day-to-day operations in line with Smart Manufacturing principles.

3. Dashboards That Drive Action

Role-based dashboards
Dashboards can be configured for machine operators, shift supervisors, and plant managers, each with a tailored view of KPIs.

Embedded alerts and nudges
Real-time prompts, like “Line 4 below efficiency threshold for 15+ minutes,” reduce response times and minimize disruptions.

Cross-functional drill-downs
Teams can identify root causes more quickly because users can move from plant-wide overviews to detailed machine-level data in seconds.

4. What Powers These Dashboards

Data lakehouse integration
Unified access to ERP, MES, IoT sensor, and QA systems—ensuring reliable and timely manufacturing analytics.

ETL pipelines
Real-time data ingestion from high-frequency sources with minimal latency.

Visualization tools
Custom builds using Power BI, or customized solutions designed for frontline usability and operational impact.

Smart Manufacturing in Action: Reducing Market Response Time from 48 Hours to 30 Minutes

Mantra Labs partnered with a North American die-casting manufacturer to unify its operational data into a real-time dashboard. Fragmented data, manual reporting, delayed pricing decisions, and inconsistent data quality hindered operational efficiency and strategic decision-making.

Tech Enablement:

  • Centralized Data Hub with real-time access to critical business insights.
  • Automated report generation with data ingestion and processing.
  • Accurate price modeling with real-time visibility into metal price trends, cost impacts, and customer-specific pricing scenarios. 
  • Proactive market analysis with intuitive Power BI dashboards and reports.

Business Outcomes:

  • Faster response to machine alerts
  • Quality incidents traced to specific operator workflows
  • 4X faster access to insights led to improved inventory optimization.

As this case shows, real-time dashboards are not just operational tools—they’re strategic enablers. 

(Learn More: Powering the Future of Metal Manufacturing with Data Engineering)

Key Takeaways: Smart Manufacturing Dashboards at a Glance

AspectWhat You Should Know
1. Why Static Reports Fall ShortDelayed insights after issues occur
Disconnected systems (ERP, MES, sensors)
No real-time alerts or embedded decision logic
2. What Real-Time Dashboards EnableTrack OEE and downtime in real-time
Predictive maintenance using sensor data
Dynamic inventory heat maps
Quality linked to operators
3. Dashboards That Drive ActionRole-based views (operator to CEO)
Embedded alerts like “Line 4 down for 15+ mins”
Drilldowns from plant-level to machine-level
4. What Powers These DashboardsUnified Data Lakehouse (ERP + IoT + MES)
Real-time ETL pipelines
Power BI or custom dashboards built for frontline usability

Conclusion

Smart Manufacturing dashboards aren’t just analytics tools—they’re productivity engines. Dashboards that deliver real-time insight empower frontline teams to make faster, better decisions—whether it’s adjusting production schedules, triggering preventive maintenance, or responding to inventory fluctuations.

Explore how Mantra Labs can help you unlock operations intelligence that’s actually usable.

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