Title: 4 Ways Probus is Innovating to Meet the Changing Needs of Insurance Customers
In a recent interview with TechGraph, Rakesh Goyal, Director of Probus, discussed the company’s efforts to expand its presence in rural India through specialized insurance products, including crop and livestock protection. But Probus is not just focused on rural markets. The company is also innovating to meet the changing needs of customers in the retail and small business sectors. Here are four ways Probus is staying ahead of the curve:
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Personalized Insurance Plans: Probus offers a diverse range of insurance products that cater to both retail and small business sectors. By focusing on personalized insurance plans, the company meets the growing demand for flexibility in coverage.
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Digital Platforms: In the retail sector, Probus focuses on simplifying insurance products and making them more accessible through digital platforms (app and website), ensuring that customers can easily compare and purchase policies that suit their needs.
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Cutting-Edge Technology: Probus sets itself apart through a combination of cutting-edge technology, superior customer experience, and continuous product innovation. The company’s technology-driven platforms enable it to provide seamless, personalized services, from policy issuance to claim settlement.
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Grassroots-Level Awareness Campaigns: Expanding coverage in rural and underinsured areas poses unique challenges. To address these, Probus is actively working on expanding its POSP network and investing in grassroots-level awareness campaigns. Through initiatives like connecting with more than 80,000 farmers in the eastern region, the company is introducing specialized insurance products such as crop and livestock protection to underserved areas.
Probus is also exploring telematics and usage-based insurance models as part of its innovation strategy. These models, which calculate premiums based on actual usage or driving behavior, offer a new way to approach traditional insurance models.
As insurance executives, it’s important to stay ahead of the curve and meet the changing needs of customers. Probus is a great example of a company that is doing just that. To learn more about Probus and their innovative approach to insurance, check out the full interview with Rakesh Goyal on TechGraph. And if you’re interested in exploring parametric insurance options, get in touch with Riskwolf to see how we can help you turn real-time data into insurance. Using unique real-time data and dynamic risk modelling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast.