Magnus Roe

As AI, automation, and data redefine the boundaries of what’s possible, we’re witnessing a fundamental shift, not just in how insurance is delivered, but in what people expect from it.     India is uniquely placed at the centre of this transformation. With its depth of digital talent and a growing ecosystem of innovation, the country is fast becoming a global hub for designing the next generation of insurance solutions that are intelligent, intuitive, and inclusive.     At MetLife Global Capability Centre (MGCC), we’ve had the opportunity to help shape this journey, by embedding advanced technologies across the value chain while staying grounded in a human-first approach.     In this article, I share reflections on where the industry is headed—and how the confluence of tech, talent, and purpose is creating an inflection point for InsurTech globally. https://lnkd.in/gWYrfUiS     #InsurTech #AI #DigitalTransformation #MetLife #FutureOfInsurance #GCCs #MGCC #CustomerExperience #MetLifeGCC #TechAtMGCC #InnovationAtScale #MGCCLeadership 

362

22 Comments

India isn’t just cost-effective. It is a strategic actuarial powerhouse. For too long, the conversation about offshore actuarial work has been framed around cost savings. Yes, India offers efficiency. But that is only part of the story. India has one of the largest pools of STEM graduates in the world, a rapidly maturing actuarial profession, and a track record of handling complex, global projects. When combined with strong governance, world-class analytics capabilities, and cultural adaptability, this creates something far more valuable than a “low-cost center.” It creates a strategic hub for innovation, transformation, and thought leadership in actuarial science. The future is not about offshore versus onshore. It is about how global teams can leverage India’s talent not just to deliver work, but to shape the direction of the profession.

144

6 Comments

The much awaited decision on the GST exemption on health insurance premiums is finally out! In a nation, where a large section of population does not have any health insurance or is underinsured, this move is expected to encourage the individuals to prioritise health insurance as a necessary financial protection tool. Aligned with the broader ambition of the regulator of 'Insurance for All by 2047,' this reflects positive intent of the Government to make health insurance affordable and accessible for every Indian. Although it is anticipated that reduction of the tax element will translate into lower premiums, the actual benefit can only be assessed after clarity on the input tax credit, which we will come to know over the coming days. https://lnkd.in/gcQGXVDB #GeneralInsurance #HealthInsurance #GSTExemption

484

5 Comments

Zurich Kotak General Insurance has announced the appointment of Birendra Mohanty as Chief Business Officer (CBO), marking a strategic addition to its leadership team. With over two decades of experience in insurance sales, distribution, and transformation, Birendra brings proven expertise in scaling operations and driving customer-focused innovations. At ICICI Lombard, he successfully led large-scale transformations across Agency and Broking, SME, and Bancassurance verticals, building high-performing teams and expanding digital-first, customer-centric channels. His leadership played a pivotal role in strengthening market presence and accelerating growth. In his new role, Birendra will oversee Bancassurance (including Banca Digital), Financial Institutions Group, SME, and Institutional & Government Business. Commenting on the appointment, Alok Agarwal, MD & CEO of Zurich Kotak General Insurance, stated that Birendra’s proven ability to lead innovation and scale will help the company unlock new opportunities in India’s evolving insurance landscape. CXO TechBOT extends best wishes to Birendra as he drives growth, innovation, and customer-centric insurance solutions across India. #InsuranceLeadership #CXOAppointments #InsuranceInnovation #CustomerCentricity #DigitalInsurance #InsuranceGrowth #InsuranceTransformation #NonLifeInsurance #BusinessLeadership #CXOTechBOT

1,207

178 Comments

The reinsurance market in India is ready for a change. India's reinsurance market is worth more than ₹50,000 crore, but there isn't a lot of competition. GIC Re has more than half of the market share, while foreign companies like Munich Re and Swiss Re have branches and send most of their profits abroad. Valueattics Re is the only new company to enter the domestic market so far. There is now a move that will change the game. Allianz Group and Jio Financial Services (JFS) have announced a 50:50 joint venture to make India's second fully domestic reinsurer. If they get the green light, they want a composite licence that covers both life and general reinsurance. Why is this so big? Reinsurance is insurance for insurance companies. It protects them from significant risks, such as floods and pandemics. Customers will experience greater stability, lower premiums, and faster claims processing if there is a stronger domestic reinsurance base. It also keeps more money and expertise in India, which means less need for foreign capital. The time is right. India's reinsurance premiums are likely to almost double to ₹99,000 crore by FY26, while general insurance grows by 10% every year. Competition could finally give GIC Re a run for its money and make India's economy stronger. The JV still needs to be approved. But if it works out, this could be the start of a new era, with stronger domestic companies, more foreign experts, and better results for policyholders. Follow Chakrivardhan Kuppala for more insights. (Disclaimer: This post is for educational purposes only and not financial advice. Always do your own research before investing.) #Reinsurance #InsuranceIndustry #FinancialServices #IndiaGrowthStory #AllianzJioJV

62

35 Comments

On ET Now’s Insurance Mantra, BCG’s Pallavi Malani explained why Indian insurers are not generating adequate return on equity, noting that listed Indian insurers delivered only 9% shareholder returns in the past five years compared to 11–12% globally. She highlighted that low ROE and slower market cap growth (14% vs. 20–22% in banking) pose structural challenges for capital inflow. While enabling regulations have improved affordability, she said the sector still struggles with trust deficit, limited awareness, and a traditional distribution model. Pallavi Says the need for product innovation, simplified communication, and newer distribution channels like direct-to-consumer and embedded insurance on digital platforms to drive penetration and build long-term investor and customer confidence. #InsuranceMantra #ETNowExclusive #InsuranceAwareness #InsuranceForAll #PallaviMalani #BCG #InsuranceReturns #ROE #InsuranceGrowth #DigitalInsurance

150

5 Comments

Heat. Air Quality. Insurance Costs. An Indian Reality We Must Confront. Reflecting on a recent article I read around on how global heatwaves, air pollution, extreme weather are no longer distant threats. They’re having real, measurable impacts on homes, health, and financial risk. As an insurance broker, I believe it’s our duty to understand these changes, and help India stay resilient. Here’s what our sector should be really be thinking about:   What’s Changing, and Why It Matters 1. Rising temperatures and worsening air quality are more than environmental issues, they lead to greater health risks (respiratory, cardiovascular), increased mortality, and greater stress on medical systems. 2. Homes in many Indian cities are more exposed: ageing infrastructure, poor insulation or ventilation, and limited cooling systems magnify heat stress. 3. As insurers factoring in more frequent claims for heat damage, pollution-related losses, and weather disasters, premiums go up. That may make cover harder to access for many.   What the Insurance Industry Must Do 1. Embed Climate & Health Risk into Underwriting We need granular data: mapping risk zones for heat, pollution, flood etc., and using that to price fairly. Homes in “hot-spots” may need additional risk mitigation built into policies. 2. Design Products that Pay for Prevention Develop solutions that reward preventive measures, from cool roofing and air filtration to safer construction practices, where it is best to avoid the use of hazardous materials like asbestos. Parametric/trigger-based covers can also play a role, activating when thresholds such as heat index or AQI are breached. 3. Educate and Partner with Clients Many customers are unaware of how indoor heat or local air quality can damage property, health, and finances. Brokers must become educators, helping people assess risk, explore mitigation, reduce exposure. 4.Collaborate with Regulators & Local Governments Building codes, city planning, heat-mitigation infrastructure, pollution control, these are public goods that reduce risk for everyone. Working together can help reduce insurance risk, keep costs manageable, and make adaptation scalable. Why This Is a Leadership Opportunity India is uniquely placed. We have diverse climates, rapid urbanisation, and growing awareness. By acting now: Build trust: clients will value brokers who anticipate change, offer stable, forward-looking solutions. Drive innovation: those who develop climate-resilient products will lead, not lag, as regulation and customer expectations evolve. The realities of climate change are here and so are opportunities: to protect, to innovate, to lead. Insurance isn’t just about recovering losses, it’s about building resilience and enabling safer, healthier lives. #ClimateRisk #IndiaResilience #HealthAndClimate #RiskManagement https://lnkd.in/dYrveZd3 

77

3 Comments