Speaker:  Ms Sucharita Mukherjee, Kaleidofin, Chennai

Date & Hour: 16 October 2019, 4:15 pm

Venue: Seminar Hall 1

Title: Personalizing financial solutions for informal sector customers

Abstract: Customers working in the informal sector experience significant income and expense volatility in their lives, The volatility in income and expenses tends to be high at or about 45-50% each [1]. In addition, they are exposed to significant risks such as life, accident, health and natural catastrophes, however, are completely unprotected against such risks. The big problem we are trying to solve with our work at Kaleidofin is the following : For a given customer, what is the right combination of financial products (the combination of financial products is called a financial solution) that will maximize the probability of achievement of a stated life goal (for instance, a customer being able to have sufficient funds to pay for her child’s professional after school education by a certain specified time period)? Till date, we have been working on defined solution sets such as lakshya, udaan and sakhi, which have been designed to meet the chosen goals of the customer. The variables in the solution set can be varied for instance, regular investment amount, term, pricing and amount of liquidity facility, nature and amount of goal protection cover and so on, so that each solution line can be tailored to meet the unique requirements of a customer.  In this talk, I would like to present customer insights from our work in personalising financial solutions and the unsolved problems that yet need further research and analysis.