Siddhartha Mohanty, the CEO and MD of LIC, stressed the importance of collaboration between the insurance sector and telecommunications, e-commerce, and fintech companies to improve policy distribution across India.

During a CII event in Mumbai, he emphasized the need to rethink insurance marketing strategies in order to achieve the goal of "insurance for all."

Mohanty acknowledged the effectiveness of traditional distribution channels such as agents, brokers, and bancassurance, but also highlighted their limitations, particularly in reaching the vast and underserved rural population.

He advocated for the exploration of non-traditional channels to overcome these challenges and ensure wider access to insurance products throughout the country.