Mr. Nilesh Sathe, Whole Time Member (Life), Insurance Regulatory & Development Authority of India, released CII-PwC report “Rethinking distribution: Smart solutions for smart customers” at CII flagship Financial Distribution Summit 2015 on 5 November, 2015 at Mumbai. The report has identified how the future will be different from what it is today and how financial institutions, distribution channels and agents can respond to this change to capture new opportunities.
It lays out four overarching growth drivers, which are providing an impetus to change in the delivery and consumption of financial services, demographic factors, technology changes, regulation and the entry of a substantial number of new, differentiated banks.