Prelude
30 years ago, when my partners and I first ventured into this industry, we were met with many challenges, most of them brimming with misconceptions about the insurance sector. I still vividly remember a rather disconcerting conversation that I had with my father when I first told him about my intention to go forth in this field. “In insurance you pay for a watermelon, but get only peanuts when you claim” he said, a statement that I was unprepared to hear especially when my partners and I had worked so hard towards building the very institution that he apparently had little faith in! As disheartening as it was at the time, this conversation with him became Absolute’s first real insight into this industry and our first stepping-stone towards creating a strong, stable and people-centric business model. Aggrieved, dissatisfied and primarily misinformed claimants were the root cause of this budding mistrust between insurers and policyholders that we had to nip, before even thinking about becoming a trusted organization.
Arun Arora
CEO