Financial Services
Online insurance sellers expected to create up to 300,000 jobs in the next three years
23 Aug 2021
Online insurance sellers in India are expected to create 250,000-300,000 jobs in the next three years as the insurtech sector is at the cusp of breakthrough growth.
Shishir Mankad, managing partner and head of financial services at Praxis Global Alliance, told Business Insider that this would include both direct and indirect employment opportunities across verticals — technology as well as functional roles in product design and analytics, customer journey design, automation as well as fulfillment roles in sales and distribution, claims processing and more. The segment is expected to generate part-time earning opportunities for another 2-3 million people in the same time frame, Mankad added.
Meanwhile, Shwetank Verma, co-founder of Indian Insurtech Association and founder of investment firm Leo Capital, in an email interaction with Business Insider said that the online insurance sellers in India are expected to double their premium by 2025 and create over a lakh direct jobs.