Open Architecture is a great channel, but hasn’t taken off in a big way says Vighnesh Shahane, CEO at IDBI Federal Life Insurance. He believes that for the bancassurance model to succeed, partnership should be strategic & culturally aligned. Insurance industry has grown at 15% CAGR with optimism for life insurance is at all-time high. He also says post digital adoption human factor cannot be eliminated completely as insurance remains to be based on trust. Importantly, Vignesh clarifies that IDBI Federal Life insurance has no plans for an IPO right now and that shareholders are interested in discovering the value of their investments.

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