Transforming risk management in India: Integrating health and life insurance data Ashish C. Pius, R. Velmurugan Data Alchemy in Insurance Revolutionizing the Insurance Industry Through Big Data Analytics, 2025 In this article, we explore the emerging trend of integrating health insurance data into life insurance policies in the Indian context. This innovative approach aims to revolutionize risk management in India's rapidly evolving insurance sector. By leveraging detailed health data, insurance providers can offer more accurate risk assessments, leading to tailored insurance products that better meet the diverse needs of the Indian populace. However, this integration raises critical issues around data privacy, regulatory compliance, and infrastructural challenges, especially in rural areas. We will analyze the potential benefits, such as enhanced risk prediction and promotion of healthier lifestyles, against these challenges, drawing insights from early adopters and regulatory guidelines from IRDAI. The article aims to provide a comprehensive overview of this integration's impact on India's insurance landscape.
A Study on Problems in the Insurance Repository System in India Ashish C Pius, R. Velmurugan Indian Journal of Information Sources and Services, 2024 This section discusses the problems of the insurance repository system and it is possible to state that the situation is quite chaotic here. Due to the availability of many repositories in the industry, policyholders are confused and the emergence of repository services distorts the insurers-policyholders nexus. Further, the majority of the policyholders have low computer literacy which extends the problem as far as the adoption of the repository services is concerned and also increases the possibility of exploiting the policyholder information. But when arrangements are made to try and bring the services closer to ensure that they are availed to all the various policyholders of the repository services, it is realized that many of the life insurance firms do not encourage the policyholders through active marketing. And, it contributes to the other issue which makes the policyholders’ attitude towards the repository system not highly positive. Promoting the use of the repository system has also been lacking tangent arising from the interface initiates that copy with the hands of the regulatory bodies such as IRDA. In the context of this research, system barriers, including network availability bear more difficulty in being solved, hence resulting in higher variability in as well as levels and patterns of use of the repository system compared to consolidated groups like the CPRP. These complex challenges underscore the need to come up with suitable and feasible interventions to address the issues that have characterized the insurance repository system, with the view to making it functional for all the targeted users and other stakeholders.
A Study on Policyholder's Perception and Satisfaction Towards Insurance Repository Services Ashish C Pius, Dr.R. Velmurugan Indian Journal of Information Sources and Services, 2024 The current research focuses on the following objective: the general and specific Policyholders' impressions and satisfaction estimates concerning insurance repository services. This is to find out the experiences with these services how they are viewed by policyholders, and the satisfaction level of policyholders. The work utilizes surveys and interviews with the policyholders to get a wider understanding of the issue due to using a mixed research method. Several services related to insurance repositories are considered in the study, such as the look and feel of the websites and related applications, the speed and efficiency of the digital channels and platforms, the customer service support, the support for commencement of e-Insurance Accounts (eIA) and overall user experience. It also focuses on certain features like modification in the policyholder's or bank's details, policy renewal premium or maturity due date, linking Aadhar with the policies, change in fund options, claim notification procedures, and declaration of policies and Insurance Account Statements, online transactions, etc. Using data analysis and synthesis, the objective of this research is to find out the major factors that affect the policyholders' attitudes and level of satisfaction. It aims to identify existing gaps in insurance repository services as the strengths, weaknesses, opportunities, and threat analysis of the service. Consequently, the outcomes of this study will be beneficial for insurance service providers and policymakers to improve their services, develop relevant strategies for offering services that customers desire, and ultimately increase generalized satisfaction of services that are under the insurance repository service domain.
