Around the world: Simple products in India

When we think about providing cover to the lower socio-economic groups, we think about simple products. We think about simple underwriting. We think about a simple sales process. We want to minimize compliance risk. We want to minimise paperwork. We want the customer to know when they are covered. We want a clear payout. We do not want complicated policy ­documents. We want a simple claim process. Are all of these possible? Maybe in the case of a personal accident policy that has been sold to more than eight million Indian farmers. REWARD FOR HARD WORK The product, Sankat Haran Bima...