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11 MINS READ

Indra Chourasia

Analytics and Insights, Banking, Financial Services, and Insurance, TCS

Krishnakumar Gopalakrishnan

Head – Growth and Transformation Initiatives, Europe, Banking, Financial Services, and Insurance, TCS

Prab Pitchandi

Global Head – Analytics and Insights, Banking, Financial Services, and Insurance, TCS

Highlights

  • Open insurance offers banks the opportunity to reinvent traditional bancassurance by leveraging data and ecosystem partnerships to make contextualized offerings to customers.
  • Using diverse transactional, demographic, and behavioral insights of individual customers, banks can identify event-driven engagement opportunities and drive cross-sell and upsell opportunities.
  • Leveraging open insurance in the bancassurance space will require banks to redefine the customer journey and adopt an ecosystem-aligned digital operating model.