Among several technological innovations and widespread adoption of specific applications, here are the top insurance trends in 2021.

The digitally enabled healthcare consumer is informed, proactive and above all lives in an omni-connected world.

Since the Pandemic began, traditional insurance protection and cover products have evolved to meet new customer demands. According to recent WHO and EY reports, Consumers now prioritize ‘protecting their health’ above all other personal needs. 

The Pandemic is accelerating Digital Healthcare Innovation to an all-time high. Healthcare organizations must address the challenges with a ‘disconnected’ digital health strategy and the steps needed to build the right approach.

76% of healthcare professionals in India are already using Digital Health Records (DBRs) in their practise. The NHS digital framework is aiming for Digital Health Records for all citizens by 2022 to ensure full benefits of telemedicine and e-health.

Conversational experiences will be the key to providing proactive and friendly risk advice to consumers. AI in Insurance will value at $36B by 2026. Chatbots will occupy 40% of overall deployment, predominantly within customer servicing roles.

To make contactless, global customer-support a new reality and with a vision to foster “Vocal for Local” among digital users, Mantra Labs' latest AI chatbot - Hitee, allows remote business conversations through secure video and multilingual chats.

To explore the impact of the ongoing crisis on global businesses, Mantra Labs has launched a Podcast where industry stalwarts are invited to share their insights on the future state of Insurance & other businesses.

Barclays estimates that India’s growth rate could drop significantly (2.5% from the current 4.5% for FY2020). Read the business impact of COVID-19 so far & industry insights towards building operational resilience and ensuring business continuity.

Mantra Labs CEO, Parag Sharma unveiled the Internet of Intelligent Experiences (IoIX) at recently concluded India Insurance Summit & Awards, Mumbai. To help you understand the impact of coronavirus and what is to come, we've compiled a list of relevant links in this newsletter.

Mantra Labs has published a report on the State of AI in Insurance 2020. The newsletter also covers the implications of the Data Protection Bill for Insurers & key trends 2020 for APAC General Insurers.

The current edition reveals the launch of SBI General Insurance app, wherein, the company is extending its digital-ready products and user-first services to the new-age consumer. Also, read the insights on how AI is forging new consumer-centric business models.