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In an interaction with TechGraph, Anand Agarwal, Chief Technology Officer of Probus, outlined how insurance in India is shifting from a compliance-driven purchase to a core element of personal financial protection, and how the company is strengthening its technology backbone to combine digital convenience with trusted advisory support for more informed, long-term coverage decisions.
He also spoke about Probus’ focus on emerging risk categories such as climate, property, and SME insurance, ensuring that customers can explore options beyond life and health while receiving the clarity and guidance needed to select products that better reflect their changing protection needs.
Read the interview in detail:
TechGraph: This shift is part of a larger trend where insurance is moving beyond its old role as a tax-saving instrument. How is Probus recalibrating its approach to meet customers who now see insurance as central to financial security rather than an obligation?
Anand Agarwal: At Probus, we are building a powerful technology backbone to meet evolving customer needs and become their preferred financial partner. We aim to innovate at scale while providing digital experiences and personalizing products with significant value addition in a cost-efficient way.
This approach further reflects our core values to build trust and empower partners and customers in choosing the right insurance product for their long-term financial stability and risk management.
TechGraph: A lot of this change is being driven by younger, digitally native buyers who are more aware yet highly selective. How then is Probus adapting its distribution, advice, and engagement to serve this demographic while still catering to traditional policyholders?
Anand Agarwal: This is a major challenge paired with an immense opportunity that is currently reshaping the insurance ecosystem. We have embraced an omnichannel approach to address this generational gap effectively. Additionally, we are leveraging enhancements in AI and other technologies to address the need for convenience, transparency, and instant accessibility for digitally native buyers.
TechGraph: Technology is reshaping distribution, but trust and personal guidance remain decisive in insurance decisions. How is Probus navigating this balance between digital convenience and the human touch that builds confidence in such long-term commitments?
Anand Agarwal: At Probus, our strategy is to seamlessly blend digital convenience with personal guidance through a technology backbone capable of integrating digital touchpoints and expert networks. Key focus areas for development of the technology backbone include Integration with digital public infrastructure, education and awareness through digital channels, and all-around technology transformations led by AI.
TechGraph: While health and life dominate the market, risks like accidents, property loss, and climate events are becoming more visible. Do you see these segments gaining meaningful traction, and how is Probus preparing for that shift if it comes?
Anand Agarwal: While life and health insurance have historically dominated the Indian market, we at Probus see this trend shifting. The increasing frequency and severity of climate-related events such as floods and cyclones along the coastline are driving this change. Key elements of our diversification strategy include emerging risk areas like agriculture, climate, and property. We’re also focusing on group and SME insurance, where we see a lot of scope for fresh ideas and innovation.
TechGraph: With customers becoming more vocal about clarity on exclusions, pricing, and long-term value, how is Probus addressing this demand for transparency, and is it influencing the way you design products or innovate services?
Anand Agarwal: As Probus, we see this demand for transparency not as a challenge, but as a long-overdue and essential shift. It’s pushing the entire industry to move away from unnecessary complexity and focus on simplicity, which ultimately builds a robust and more trusting relationship with the customer. Clearer communication, fairer pricing, better product choices, and improved post-sales service will lead to new design paradigms and innovations.
TechGraph: Looking ahead, with regulation, capital flows, and competition reshaping the landscape, where do you see Probus carving a distinctive position in the next five years, and what will define its edge in serving the next generation of insurance buyers?
Anand Agarwal: This is a paramount question for every player in the industry. In the next five years, we see the market becoming more mature and personalized, with segments of one becoming a reality for risk managers. To stand out, Probus will double down on a strategy that is not just about technology or human touch, but a unique blend of both.
Our systematic approach towards building an Expert-Led Digital Platform, which is curated and not a mere aggregation, will lead to long-term advantage for Probus with increased personalization, convenience, and transparency for partners and customers.