With which organization has GIFT City collaborated to promote financial technology in the insurance sector?

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Lily Chitlangiya asked 22-Feb-2022 in Current affair by Lily Chitlangiya

With which organization has GIFT City collaborated to promote financial technology in the insurance sector?


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Anonymous User answered 28-Feb-2022 by Anonymous User
The India InsurTech Association (IIA) has partnered with GIFT City, the country's first international financial services center (IFSC), to promote financial technology in the insurance business. The IIA is a non-profit organization dedicated to developing India's technology-driven insurance industry.

With which organization has GIFT City collaborated to promote financial technology in the insurance sector?

In a statement, the country's first operational smart city said the two organizations will engage in fostering thought leadership in the sector of insurance and raising awareness about GIFT City among Indian and overseas insurance companies. The collaboration will include events, information series, seminars, and conferences to raise awareness about GIFT-IFSC.


In addition, the two organizations will work together to develop regulatory sandbox projects for the GIFT-IFSC, which will benefit insurance technology start-ups, reinsurance companies, politicians, service providers, and individuals. 'One of the most important cornerstones of the worldwide financial services ecosystem is insurance.' 'With this relationship with IIA, we can aspire to be a thriving center for world-class insurance goods and services and stimulate innovation in the market,' said GIFT City Managing Director and Group CEO Tapan Ray.


As part of the deal, the IIA would work directly with the GIFT-SEZ on several fronts, such as bringing international insurance businesses, Indian insurance firms, and insurance professionals to the GIFT City. 'Through this collaboration, our goal is to assist worldwide financial businesses in providing top-notch financial services,' says the Association, which will promote innovative digital business models and foster collaboration between start-ups and all other insurance industry participants.