Mint, Nikhil Apte, Chief Product Officer - Product Factory (Health Insurance), Royal Sundaram General Insurance, said it is extremely important to motivate policyholders and help them understand the importance of the renewal of policy during uncertain times, especially during the pandemic.What was the impact on policy renewals during covid time?We observe a challenging time for our policyholders, at the same time consumer behaviour displayed by the policyholders also need to be understood.
Firstly, on one side customers are facing unprecedented health risk as their family members, relatives, neighbours getting admitted to hospitals.