India insurance growth to hinge on AI-led distribution, ecosystem partnerships: McKinsey

The next phase of growth in India’s insurance sector is likely to depend increasingly on how effectively insurers expand distribution beyond traditional channels, with artificial intelligence (AI)-led customer discovery and ecosystem partnerships emerging as key drivers of insurance penetration, according to a McKinsey report.

McKinsey said insurers are reassessing the traditional direct-to-customer (D2C) model as customers increasingly discover and evaluate products through AI-powered search and conversational interfaces.