The year 2020 was tough for the insurance industry but it also helped it reinvent itself like never before. For instance, the industry brought in many customer-facing features, which would have normally taken years to become functional. There were also many firsts this year. In health insurance, short-term policies (generally, insurance policies tenure is of one year) were launched, telemedicine (treating patients using telecommunication) was brought in and instalment option was introduced for premium payments.
