Chandan Gokhale

Graduate of Wichita State University, Chandan is a senior director of Digital Transformation services and InsuranceNEXT Labs at Cognizant Technology Solutions.

Freemium in the Insurance Industry

Let’s face it, everyone loves a bargain! People love going to Costco or Trader Joe’s to sample all the free items. Can an idea like this be applied to the insurance industry? Yes it can and here’s how. It works like this; you appeal to a new customer with freemium basic insurance products and encourage customers […]

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Customizing Insurance for the Long Tail of Demand

The long (and short) tail of insurance demand Today, many businesses are modeling themselves on the premise that people gravitate toward niche solutions and products because they satisfy their unique interests more than generalized offerings. Can this “long tail of demand” model succeed in insurance as well? Can insurance companies profit by offering many types of niche coverages and offerings rather […]

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Add-On Business Model for Digital Insurance (Part 2)

Our previous post sparked ideas of how add-on business models can transform the traditional insurance industry toward digital insurance. How can carriers turn these ideas into a reality? Breaking up bundles A good place for carriers to start is to evaluate their current services portfolio. First, assess the “higher” cost services provided to customers. Many of these services […]

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Will Add-On Models Transform Insurance?

Technology advancements and new business models are prompting (perhaps even prodding) the insurance industry to change (such as driverless cars and shared-economy players like Airbnb and Uber). Insurance players have often been wary of change, but in this case, ignoring the new will directly threaten survival. As the digital era evolves, we can learn from strong business models that are making strides in business today. […]

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