In the latest episode of The Digital India Podcast, Kayzad Hiramanek, Chief Operating Officer of Edelweiss Life Insurance, shares insights from his 25-year leadership journey across diverse industries. In conversation with host Mohd Ujaley (Editorial Director, Tech Observer Magazine), they explore transformative leadership approaches, systemic challenges in India's insurance adoption, and the technological innovations reshaping financial services.

Hiramanek champions leaders who recruit "people smarter than themselves" and decentralise decision-making. "The true measure of leadership," he observes, "lies in building systems where teams function autonomously—even if it diminishes your own indispensability." His perspective is informed by an unconventional career path that began in hospitality before transitioning through telecom to insurance, demonstrating that adaptive thinking trumps sector-specific expertise.

With life insurance penetration stagnating at 3-4%, Hiramanek pinpoints three critical barriers:

• Demographic Disconnect: Young Indians prioritize immediate needs over long-term protection

• Education Deficit: No standardized curriculum on financial planning fundamentals

• Design Complexity: Actuarial products alienate returns-focused consumers

He credits regulatory innovations like Bima Sugam (unified insurance marketplace) and Bima Vahak (last-mile women agents) for driving inclusion, alongside pandemic-driven digitisation of claims processes through tools like verifiable digital death certificates.

While describing insurance as "the original data science industry" (rooted in actuarial models), Hiramanek offers measured perspectives on emerging tech:

• AI Today: NLP-powered chatbots handle 68% of routine customer queries (internal metrics)

• Underwriting Realities: Still dependent on traditional verification (Aadhaar, medical exams, financial disclosures)

• AI Frontiers: Agentic AI automates workflows but yet to replicate human risk assessment

As regulators work toward Insurance for All by 2047, Hiramanek stresses product simplification and India Stack integration. His leadership mantra—"Fail fast, recover faster"—reflects his cross-industry evolution and applies equally to tech adoption and talent development.

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