The Global Association of Insurtech Professionals (GAIP) has launched its India Chapter in Mumbai, marking a significant milestone in the organization’s global expansion. This launch is part of GAIP’s ongoing efforts to foster collaboration, innovation, and knowledge sharing in the Insurtech industry across the globe.
GAIP is a non-profit international association headquartered in Dubai, UAE, at the Dubai International Financial Centre (DIFC). The association began its journey with a soft launch in Dubai on April 27, 2024, followed by the launch of its Saudi Arabia Chapter on May 28, 2024. The soft launch of the India Chapter took place on August 9, 2024, during the 9th Global Economic Summit on Fintech at the World Trade Centre in Mumbai. This event further strengthens GAIP’s presence in the rapidly growing global Insurtech ecosystem.
GAIP’s grand official launch is expected to take place soon in Dubai. The event will attract Insurtech professionals, innovators, investors, and industry leaders from around the world, setting the stage for future collaborations.
Insurtech Industry Growth
The global Insurtech market, currently valued between $16 billion and $20 billion, is projected to reach $60 billion to $80 billion by 2030. This immense growth highlights the importance of GAIP’s efforts in shaping the future of the industry. GAIP aims to be the leading international organization for Insurtech professionals, setting new standards of excellence and fostering innovation on a global scale.
During the soft launch event in Mumbai, GAIP Founder and Chairman, Aftab Hasan, shared the organization’s vision. “GAIP is not just an organization; it is a collective vision for the future of Insurtech. Our goal is to connect professionals across the globe, empowering them to drive innovation and make a significant impact in the insurance industry,” he said.
Hasan emphasized the importance of community in navigating the complex and rapidly changing Insurtech landscape. GAIP aims to create a robust and sustainable network that fosters collaboration, encourages knowledge sharing, and drives growth within the Insurtech community.
India Chapter Leadership and Future Plans
At the India Chapter soft launch, Vijay Kalantri, a prominent Indian industrialist and President of the All India Association of Industries (AIAI), was appointed as the Interim Board Chairman for GAIP India Chapter. In his inaugural address, Kalantri highlighted the need for inclusivity and collaboration in the Insurtech industry. He noted, “GAIP will create value for its members and the broader Insurtech ecosystem through a global network that is both diverse and dynamic.”
GAIP plans to establish local engagement through its chapters while maintaining a unified global approach to advancing Insurtech. The association will develop educational programs, training courses, and professional certifications to enhance the skills and knowledge of Insurtech professionals. These programs will cover essential topics such as insurance, technology, data analytics, risk management, and emerging industry trends.
Research, Innovation, and Community
GAIP is committed to promoting research and innovation by partnering with academic institutions, industry stakeholders, and government bodies. The organization will conduct research on new technologies, industry disruptions, and regulatory frameworks affecting the insurance sector.
To further its mission, GAIP will host events such as conferences, webinars, and workshops that facilitate knowledge exchange and networking among Insurtech professionals. These platforms will provide an opportunity for thought leaders, industry experts, and policymakers to discuss emerging trends, challenges, and opportunities within the Insurtech industry.
As GAIP continues to expand globally, the launch of its India Chapter in Mumbai signifies a major step towards fostering a collaborative and innovative Insurtech community. With its focus on education, research, and industry growth, GAIP is poised to play a crucial role in shaping the future of Insurtech worldwide. The organization’s grand launch event in Dubai is eagerly anticipated, promising to redefine the future of Insurtech and unite professionals from across the globe.
