On 25.07, @Product_Nation unveiled OCEN - India's open credit protocol
I've spent ~ 3 weeks delving into the
Stack and spoken with the good folks at iSPIRIT
I'd like to get a conversation going on a concept - OPEN: India's open insurance protocol
1/5
I've spent ~ 3 weeks delving into the

I'd like to get a conversation going on a concept - OPEN: India's open insurance protocol
1/5
Firstly, a 101 on OCEN
(h/t iSPIRIT for the sessions)
- From a platform lens, a "single API for credit"
- The iSPIRIT team has devised a protocol for loan originators to "source capital" from the *entire* lending network
- Enabled by the India Stack and new regs (e.g. LSP)
2/5
(h/t iSPIRIT for the sessions)
- From a platform lens, a "single API for credit"
- The iSPIRIT team has devised a protocol for loan originators to "source capital" from the *entire* lending network
- Enabled by the India Stack and new regs (e.g. LSP)
2/5
OPEN would operate in a similar manner as a "single API for insurance"
Whether this evolves as private or public infrastructure, it is clear that "insurance is a feature" (just like lending)
~ 40 digital distribution partnerships via FinTechs this year alone
3/5
Whether this evolves as private or public infrastructure, it is clear that "insurance is a feature" (just like lending)
~ 40 digital distribution partnerships via FinTechs this year alone
3/5
Below, I have highlighted OPENs process flow
(Very similar to OCEN!)
I have accounted for
a. An "insurance quote" (insurance is more complicated than lending)
- Premium & schedule
- Policy benefits & exclusions
- Complimentary benefits
b. The role of insurance brokers
4/5
(Very similar to OCEN!)
I have accounted for
a. An "insurance quote" (insurance is more complicated than lending)
- Premium & schedule
- Policy benefits & exclusions
- Complimentary benefits
b. The role of insurance brokers
4/5
India needs OPEN
- Swiss Re pegs India's protection gap at 92.8%
- Platforms have (new) locked-in distribution
I invite your comments, feedback & thoughts here, via DM or on the LinkedIn post directly
https://www.linkedin.com/posts/rahul-jaideep-mathur_open-open-protection-enablement-network-activity-6697054568469065728-UGZu
- Swiss Re pegs India's protection gap at 92.8%
- Platforms have (new) locked-in distribution
I invite your comments, feedback & thoughts here, via DM or on the LinkedIn post directly

If you'd like more context on InsurTech in
and how recent regulations are enabling E2E digital insurance sales, please feel free to check out my newsletter below: https://insurtechtribe.substack.com/p/update-on-insurtech-in-india-q1-fy
