"The life insurance landscape in India has been undergoing a dramatic transformation, driven by changing consumer preferences, advancements in technology, and evolving regulatory frameworks."

A seasoned Chartered Accountant with over 25 years of experience, Alok Rungta, the CEO and MD of Future Generali India Life Insurance, has held executive positions in leading insurance companies across the Philippines, Hong Kong, and India in companies like AXA, Bharti AXA Life Insurance, and Birla Sun Life Insurance. Known for his astute strategic and servant leadership, he has been instrumental in transforming customer acquisition, engagement, sales innovation, and digital enablement operations at Future Generali India Life Insurance.

- About Alok Rungta

Rungta is a key contributor to healthcare management, financial planning, technology-driven transformation, and enhancing organizational and employee effectiveness. His sound knowledge of finance, accounts, and taxation helps him a lot in steering through challenging tasks. With a strong focus on fostering agility and accountability among stakeholders, he is committed to delivering tangible outcomes. His approach integrates customer-centric strategies, segment-focused marketing, and operational excellence through project management, ensuring impactful results and sustainable growth in diverse markets. An articulate speaker, he connects with his audience with alacrity and aplomb.

Q: The life insurance landscape has been changing very fast. In that context, how do you envision Future Generali Life Insurance adapting to the rapidly evolving insurance landscape in India?

A: The life insurance landscape in India has been undergoing a dramatic transformation, driven by changing consumer preferences, advancements in technology, and evolving regulatory frameworks. The market is projected to grow at an impressive 15% CAGR (IRDAI 2023), highlighting the significant opportunities and challenges ahead. In response to this dynamic environment, Future Generali is positioning itself as a digital-first insurer, leveraging cutting-edge technologies such as Generative Al, Machine Learning, and data analytics to enhance various facets of our business.

One key focus area is the integration of AI at the point of sale.

By equipping our agents with Al-driven tools, we can empower them to provide personalized product recommendations that are highly relevant to individual customer needs, ensuring a more consultative and valuedriven sales process. This not only enhances customer satisfaction but also improves conversion rates by offering tailored solutions in real-time.