Implementation of Technology in Health Insurance Business in India: A Critical Assessment

Abstract

Technology is being implemented in the insurance industry all over the world. This study looks into existing health insurance business models, various digital technologies used by insurers, and the benefits of using technology for both insurers and customers. Finally, the difficulties that must be overcome in order to achieve successful implementation have been discussed. There are three types of business models emerging: web-aggregators that facilitate the online sale of insurance through websites; digital insurers that are purely online and use AI, blockchain, and data analytics either in-house or in partnership with tech companies to conduct business; and traditional insurers. Third, tech service providers teamed up with established insurers to create tech-based solutions in the insurance industry.