| Update on InsurTech in India (Q1 FY21) | “There are decades where nothing happens; and there are weeks when decades happen” – Lenin
In the past three months, India’s insurance regulator has published 42 circulars; the regulatory sandbox has 49 on-going pilots and (in some cases) insurance companies have launched new products (e.g., standalone COVID-19 cover) within weeks.
All of the above has taken place while the offline-heavy Indian insurance industry has witnessed ~10% YoY declines in premiums for April and May 2020 on account of COVID-19.
This article summarises what has happened in the Indian InsurTech ecosystem during the first quarter of FY21 (i.e., April—June 2020); here are the broad topics:FundingProduct innovationRegulation as an enabler“UPI for Insurance” and “Insurance as a feature” themes | | | | | MEDICI is proud to partner with MOVEMENT: Art for Social Change featuring quarterly curated art collections that explore pressing social issues around the world. MOVEMENT celebrates artists as champions of change; fearless in provocation; and vital to social movements. Artists have the ability to inspire people to see, think and act - that's why we seek to promote the transformative power of creative expression.
Each MOVEMENT Art Collection will kick-off with a Global Call-for-Entries, inviting artists to submit their work on a thematic issue. A panel of expert judges will curate the showcase and select the artwork that will comprise the final Collection. These Collections will be available exclusively on Pitroda Art's online gallery and promoted internationally. The proceeds from the sales of these works of art will be donated to the cause that it is supporting. The artwork will also be exhibited as public art installations, projected on iconic buildings around the world.
The inaugural Collection will be dedicated to the theme of Racial Justice. MEDICI stands in solidarity with everyone fighting for a better world and in defiance of racism. The importance of elevating the narrative of #BlackLivesMatter is more urgent than ever.
In the coming months, MEDICI will convene leaders from the FinTech ecosystem to share their experiences as part of our Leadership on the Frontlines series of conversations in partnership with MOVEMENT.
The official virtual launch will be hosted on ZOOM at 1pm US ET on Saturday July 4th 2020. We would like to extend an invitation for you to attend. You can join by using the link below. | | | | |
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