Instaful Do’s
Our effort is in growing insurance penetration through market-creating innovation and making insurance easy, affordable, available and accessible
Grow insurance penetration, revenue and customer value
Target un- and under-served market segments
Frictionless products and lean processes
‘Cleaner’ revenue through reduced foul selling and complaints
Instaful Don’ts
Although we are a commercial enterprise but solely money-making without innovation, simplifying products and processes or building customer value is not our objective
Compete with conventional niche insurance
business
Focus on sales alone without customer empathy and value
Create solutions (products) and then search for problems (clients)
Launch without “leaning” the processes
We Know the Difference
We know that microinsurance is not conventional insurance divided by 100
We also know that digital insurance is not about shifting paper processes on screens
These are different businesses altogether and must be viewed that way.
Positioning
If/When
Target market
Niche/Mass
Emphasis
Affordability/Affordability, Availability & Accessibility
Objective
Distribution/Delivery
Products
Producer pushed/ User-driven, be there, be useful & be quick
Processes
Frictionful – manual or paperless/ Frictionless – few clicks!
Claims
Losses and avoided/ Welcomes and paid fast
Engagement
Avoided/Invited
Digitization
Outside-in/ Inside-out and Outside-in