One of the biggest challenges for insurance providers in India is getting customers to retain their policies. According to IRDA release in 2015, only one insurer was able to retain half of the policies they sold five years back; in other words, 80% of customers churned in the first 5 years! It is critical for an industry in the business of selling long-term products, that customers continue their policy for the whole term. This is the key to sustainability and growth of the industry, and ensuring great investor experience (since most policies are front-loaded).