Panel Discussion: How Digital-First Strategy is Driving Growth & Innovation for the BFSI Industry

Panelists in this video:
+ Kayzad Hiramanek, COO, Edelweiss Tokio Life Insurance
+ Venkatesh Gurumurthy, SVP – Engineering, ACKO
+ Jignesh Vora, Chief Digital Officer, Muthoot Finance
+ Mangesh Mahale, CTO, Ujjivan Small Finance Bank
+ Srikanth RP, Editor, Express Computer (Moderator)

Key Highlights:
[1] Kayzad Hiramanik, COO, Edelweiss Tokio Life Insurance:
+ Personalisation is an important pillar for us today. We have launched a Need Analyser. The insights from the tool are leveraged to design a tailored solution for our customers.

[2] Venkatesh Gurumurthy, SVP Engineering, Acko:
+ Customers today are more digital-savvy and cost conscious and want everything to be done online. Therefore, our models are now going to mature as preventive and predictive in nature. Besides, personalised and usage-based products are going to rise in the insurance sector.

[3] Jignesh Vohra, CDO, Muthoot Finance:
+ Most of us are using UPI. There was no such product earlier which was uniformly used at such a massive scale. E-payments have helped in risk control and management, especially when it comes to identifying customers that are eligible for credit.

[4] Mangesh Mahale, CTO, Ujjivan Small Finance Bank:
+ In the banking sector, nearly 70-80 percent of transactions are happening through UPI. This has transformed the customer behaviour. However, the challenge we are facing is the lack of awareness among people on digital security, especially in remote and rural areas.