Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Faculty Publications Book Chapter Faculty Publications- Book Chapter Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Creator An entity primarily responsible for making the resource P R, Anu; Sinha, Seema; R, Seranmadevi; Raju R, Pavan Kumar Title A name given to the resource Unpacking Insurance: The Challenges and Innovations in Tying and Bundling Practices in Insurance Date A point or period of time associated with an event in the lifecycle of the resource 01-01-2026 Source A related resource from which the described resource is derived Studies in Systems, Decision and Control;Volume;646;pp.875-884 Identifier An unambiguous reference to the resource within a given context <a href="https://doi.org/10.1007/978-3-032-11612-3_75" target="_blank" rel="noreferrer noopener">https://doi.org/10.1007/978-3-032-11612-3_75</a> <br /><br /><a href="https://www.scopus.com/pages/publications/105038023939?origin=resultslist" target="_blank" rel="noreferrer noopener">https://www.scopus.com/pages/publications/105038023939?origin=resultslist</a> Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant P R A., Department of Professional Studies, Christ University, Karnataka, Bengaluru, India; Sinha S., Department of Professional Studies, Christ University, Karnataka, Bengaluru, India; R S., Department of Professional Studies, Christ University, Karnataka, Bengaluru, India; Raju R P.K., Department of Professional Studies, Christ University, Karnataka, Bengaluru, India Description An account of the resource The insurers market share mainly depends on the channels of distribution they have adopted to make the business cost-effective. IRDAIs working paper supported the idea that the lengthier the distribution channel, the more conflict of interest there was, and it had a mediating effect. There is a chance of misrepresenting policy information, which is an outcome of that effect. In India, as per IRDAI, the incurred insurance claim ratio, the ratio of claims settlement against the total premiums received in a year, varies yearly. Even though the ratio indicates the financial performance of each sector, it can also be a benchmark for explaining the scope of the product utilization by the insured. During 202223, the ratio ranges between 72 to 86% for the general insurance companies. It also differs for the Fire, Health, motors, and marine sectors. The highest ratio is for the health sector, around 86%. At the same time, the ratio for the domestic travel insurance business is around 19%. Travel insurance is an example of bundling an insurance policy with another product. However, there is no specific information about the scope of bundling of insurance policies and the claims arising out of it. To combat these challenges, innovative solutions must be explored. One such approach is the introduction of modular insurance plans, allowing consumers to customize their coverage based on specific needs without being forced into unnecessary add-ons. AI-driven policy comparison tools can further empower consumers by offering real-time insights into the value of bundled versus standalone options. Regulatory mandates for opt-out provisions in bundled offerings can ensure greater autonomy, allowing policyholders to reject unwanted components. Additionally, the implementation of blockchain-based smart contracts can bring transparency by clearly defining coverage terms and pricing, reducing hidden costs. By adopting these solutions, the insurance sector can enhance consumer trust, encourage informed decision-making, and create a more competitive marketplace, ultimately leading to fairer and more accessible insurance options for all. The Author(s), under exclusive license to Springer Nature Switzerland AG 2026. Subject The topic of the resource Bundling of insurance; Indian regulatory framework; Insurance policies; Policy challenges Publisher An entity responsible for making the resource available Springer Science and Business Media Deutschland GmbH Relation A related resource ISSN: 21984182; Language A language of the resource English Type The nature or genre of the resource Book chapter Rights Information about rights held in and over the resource Restricted Access; Hardcopy may be available in the library Format The file format, physical medium, or dimensions of the resource online