New Delhi, 5th November 2026: Leaders from India’s financial, regulatory and technology sectors outlined how the country’s scale, digital capabilities and institutional reach can advance Insurance for All by 2047.
Jointly organised by the US-India Strategic Partnership Forum and PNB MetLife, the event featured remarks by Mr. Michel Khalaf, President and CEO, MetLife, Inc., and Mr. Ajay Seth, Chairman, IRDAI. Its centrepiece was the panel discussion, “India 2047: The Future of Insurance, Innovation and Inclusion”.
The discussion focused on turning India’s insurance potential into broader coverage and better customer outcomes. Priorities included closing protection gaps, strengthening trust and transparency, improving value, reducing costs and applying global capabilities in retirement, technology and AI, with leaders highlighting AI’s potential to personalise solutions by life stage, enable more proactive engagement and strengthen the customer experience across the insurance journey.
Mr. Ajay Seth, Chairman, IRDAI, said, “India’s insurance progress must be measured not only by policies or premiums, but by lives covered and the adequacy of protection. A trusted, transparent and efficient ecosystem—supported by digital public infrastructure, enabling regulation, responsible innovation and fair competition—can deliver greater value and accelerate Insurance for All.”
Mr. Michel Khalaf, President and CEO, MetLife, Inc., said, “India is an important growth market for MetLife where we see significant long-term opportunity. Our first 25 years in India have built strong foundations for the future. This gives us the confidence to accelerate our growth and contribute meaningfully to India’s Insurance for All vision by 2047. Technology will be a force multiplier—expanding access, personalising solutions, improving customer experience and helping close protection gaps.”
Mr. Ashok Chandra, Managing Director and CEO, Punjab National Bank, said, “Banking has shown what trust, digital infrastructure and mission-led execution can achieve at scale. Insurance must build on that foundation with solutions tailored to distinct customer needs. Combining AI-led intelligence, digital reach and human trust can take protection much deeper into the country.”
The discussion concluded that India’s scale, institutional reach and digital foundations create a powerful opportunity to accelerate Insurance for All over the next five years.
About PNB MetLife India Insurance Company Limited:
PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India that combines the financial strength of MetLife, Inc. with the credibility of PNB, one of India’s oldest nationalized banks. PNB MetLife’s positioning, Always Ready for Life, is demonstrated through empowering every individual to lead life with absolute confidence.
With a strong presence in 185 offices and access to customers in over 20,000 locations through bank partnerships, PNB MetLife offers a comprehensive insurance solutions portfolio covering Family Protection, Long-Term Saving, Retirement and Child Education. The company has a wide range of protection and retirement plans available through its sales channel of over 45,000 financial advisors and multiple bank partners and caters to over 700 group relationships in India.
PNB MetLife is also committed to creating sustainable social impact through its Corporate Social Responsibility (CSR) programmes. The company’s flagship initiatives, Damini and Glow Green, focus on advancing opportunities for women and girls through education and skilling, and promoting environmental sustainability through climate action and community engagement initiatives.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Asia, Latin America, Europe and the Middle East. For more information, visit www.metlife.com.
