In a rapidly changing world full of uncertainties, insurance has become essential for safeguarding one’s financial well-being. While traditional insurance policies are the norm in India, a new trend is emerging: DIY (Do-It-Yourself) insurance.
This innovative approach empowers individuals to take control of their financial security by customizing coverage plans, selecting tailored policies, and independently managing their insurance portfolios.
This article explores the significance of DIY insurance in India and highlights its benefits for individuals.
FLEXIBILITY AND CUSTOMIZATION
DIY insurance enables individuals to personalize and tailor their insurance coverage based on their specific requirements. Unlike conventional insurance plans that typically offer pre-determined coverage options, DIY insurance empowers policyholders to choose and customize the type and level of coverage that best aligns with their needs. This adaptability ensures that individuals only pay for the coverage they truly need, avoiding unnecessary expenses while optimizing the protection of their assets.
COST-EFFECTIVENESS
By eliminating intermediaries and facilitating direct interaction between insurers and policyholders, DIY insurance eliminates commission fees and administrative expenses typically linked with traditional insurance policies. This streamlined approach results in reduced premiums and more economical insurance alternatives for individuals. DIY insurance empowers individuals to compare numerous policies, evaluate various insurers, and choose the most cost-efficient options available in the market.
TAILORED COVERAGE
Diese Geschichte stammt aus der June, 2023-Ausgabe von Beyond Market.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June, 2023-Ausgabe von Beyond Market.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
IMPORTANT JARGON
TRANSITIONING SFBs TO UBs: RBI’s NEW GUIDELINES - The Reserve Bank of India recently issued new guidelines outlining the transition process for Small Finance Banks (SFBs) to become Universal Banks (UBs).
NAVIGATING INDIA'S MARKET WITH HOWARD MARKS
Howard Marks' focus on cycles and capital preservation translates to a defensive strategy for India's frothy market: prioritize cash, target undervalued sectors, and diversify
FINDING A BETTER FIT
Switch health insurers at renewal to keep benefits such as waiting period and bonus, but weigh drawbacks
SILVER SQUEEZE
Green tech boom strains supply, propelling silver as a sustainable investment
A PODCASTING FUTURE
India's podcast scene explodes with formats and listeners, primed for digital growth, with high-quality content reigning supreme
BOUNCING BACK WITH DOMESTIC FOCUS
Despite challenges, India's tyre industry remains optimistic about doubling revenue by 2032
HIGHWAY HICCUPS?
Slowdown in awarding highway projects, driven by industry factors and project complexities, pushes NHAI towards debt reduction and private partnerships for sustainable development
CONTENT CONQUEST
JIOCINEMA'S ULTRA-LOW PLAN SHAKES INDIA'S STREAMING SCENE, AIMING FOR AD REVENUE AND LEVERAGING STRENGTHS TO BECOME A BIG PLAYER
CAUGHT BETWEEN CAUTION AND GROWTH
RBI's draft on project financing seems to be a pre-emptive measure to prevent large defaults on infrastructure loans. However, in their current form, the requirements look onerous for banks
HOT OR HYPE?
India's 2024 IPO market sizzles with investor cash, but will it be a blockbuster or a box office flop? Valuation worries linger