Straight from the Specialists
(Any opinions expressed here are those of the author and not of Thomson Reuters)
We live in an age where emerging technologies are narrowing the divide between humans and machines. As features of mobile phones become more customized and complex, they cease to be just devices of communication. Mobile phones now store more personal information than ever before. They are increasingly being perceived as personalized devices that enhance our lives.
Look around. More than 50 percent of the world’s population is under the age of 30. There are 2.7 billion internet users globally and 87 percent of the world’s population has a mobile phone. According to new research, by the end of 2013, there will be more internet-enabled mobile devices than people in the world.
The strategic shifts in the digital ecosystem have opened up opportunities as well as challenges. Let’s look at what it has in store for key stakeholders.
(The views expressed in this column are the author’s own and do not represent those of Reuters)
From the year 2000 onwards, the Indian insurance industry saw a number of private players entering through the gates thrown open by the government. Public sector player LIC had already gained an edge by being a pioneer in the life insurance space. With an army of agents, LIC was way ahead of these latecomers and found itself settled comfortably.