Digitisation of insurance policies and depository for the same is being touted as the next big frontier for fintech. Currently all insurance companies send you a soft copy of the insurance policy, whether health, life or motor. And you can store them on your computer. Insurance policies are not ‘transactionable’ unlike say shares. So I don’t really see any big benefit in having an insurance depository for a policy holder. Perhaps the govt wants to centralise it in one place for the benefit of a lender/ service provider. As such I do not see any large monetary opportunity in insurance for CAMS. Am I missing something here?
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