In this interesting panel discussion, all the panelists have discussed becoming the 5th largest market in the world by 2025. They are all gearing up for this with insurance innovation and technology. However, along with advanced technology, improvements and innovations in the traditional functioning of the insurance industry are helping to propel this marathon. They have given insights on how to gear up for the upcoming transformation of the industry. Apart from technology, they talked about the big scope of product economics and distribution economics. And emphasized increasing the supply with the advantage of embedded products to fulfill the needs of a vast population. They discussed the reasons behind the need to reduce the cost of acquisition which is so high that people take it as a barrier. In the same way, they thought, the cost of hospitalization in the health sector needs to be reduced to bring down the cost of insurance. According to them, micro insurance can do wonders to improve the penetration among tier 2 and tier 3 customers.