We are witness to very exciting times, where the financial services distribution landscape is changing, with distribution getting disaggregated. The 6th edition of the CII Financial Distribution Summit aims to identify the loopholes in the current state of distribution models, identify the potential end states for redefined distribution models, and identify the path to be taken to meet these redefined financial distribution objectives.
The Summit seeks to address the following:
- Discuss frameworks and regulations with the objectives of encouraging efficient outcomes in India
- Understand the prevalent models of distribution, and the challenges that may erupt with their evolution.
- The demand-supply dichotomy will continue in distribution of financial services, unless multiple customer touch-points are put in place, along with a financially literate consumer base.
- Question the future of brick and mortar branches. In moving towards a hybrid model in distribution, leveraging frontier technologies plays a key role.
Topics of Discussion
- Regulatory Challenges & Reforms
- Ethics in Distribution
- Financial Literacy & Inclusion – Reaching out to Rural Markets
- Future of Distribution by Digitization
- Varied types of regulatory redress within India and in other markets
- As new distribution channels emerge, how organizations can steer the moral compass towards the positive
- What impacts consumer behavior in adopting digital transactions (literacy, product etc.)? How can we maximize this to tap rural consumers?
- Use technology for value creation – lower costs, extend reach, drive efficiencies
Key Take Aways
- Careful consideration of Global best practices is necessary before implementing regulations
- Adhering to a standard of Ethics can contribute to the growth of the financial services sector
- Working on digital and financial literacy initiatives, along with simplifying customer interface, will indicate improved prospects for distributors of financial services
- Digital solutions and real time customer insights to increase penetration of financial services