New Delhi, Nov. 20 -- A new report from Sahamati and the India InsurTech Association, with support from KPMG in India, argues that India's Account Aggregator (AA) framework can remove long-standing frictions in insurance distribution and underwriting. By enabling customers to share verified financial data with consent, the AA ecosystem could expand the insurable population, speed underwriting from days to minutes and create a sizable premium opportunity for insurers.

The report estimates the AA framework could make between 33 crore and 40 crore previously underserved people newly insurable. Gig workers, the self-employed and informal-economy employees often lack formal proof of income or employment. The AA model lets these customers surf...