"The high medical trend rate can also be attributed to a higher...
Category:
Articles
Latest
Climate Risk: Is India Inc moving fast enough?
From a disaster management perspective, parametric solutions can...
Union Budget 2025: Enhancing Health Insurance Accessibility and Affordability
The deduction limits for health insurance premiums have remained...
Cloud investments: Majority of banks and insurers struggle to maximize the value
“Cloud adoption should be viewed as the start of a transformative journey that fuels long-term business growth, rather than the end game or destination. What’s clear from our research is that while the technology is seen by financial institutions as a building block,...
India’s Insurance Sector: Robust growth but coverage, profitability challenges prevail
Peeyush Dalmia, Senior Partner, McKinsey & Company, says, "While current growth indicators are promising, the industry has not seen improvement in productivity. Achieving long-term success requires a fundamental transformation in how insurance products are...
COP29: WHO demands urgent integration of health in climate negotiations
António Guterres, Secretary-General of the United Nations, said,``The climate crisis is also a health crisis. Human health and planetary health are intertwined. Countries must take meaningful action to protect their people, boost resources, cut emissions, phase out...
Emerging Indian Risks: Managing political, technological, environmental, economic, and competitive forces
Neelesh Garg, Managing Director & CEO,TATA AIG General Insurance Company As benign risk environments fade, resiliency is key to thriving amid challenges. Emerging risks are grouped into four categories: Known Knowns (predictable risks), Known Unknowns (risks with...
Cyber Risks: Frequency of large claims (>€1mn) up 14%, severity increase 17% in H1 2024
Worldwide, the average cost of a data breach reached an all-time high in 2024 of $4.9mn. In comparison, the average data breach costs in Japan, South Korea, ASEAN, and India are $4.19mn, $3.62mn, $3.23mn, and $2.35mn respectively, according to IBM's Cost of a Data...
Cyber Protection: Public-private action to bridge gap and boost resilience
Mario Greco, Group Chief Executive Officer, Zurich Insurance Group, said: “The threat of cyberattacks poses a significant risk to both societal and economic stability. As insurers, we can offer some degree of protection, but we must acknowledge that large-scale,...
Financing Climate Risks: Testing New Approaches
“Emerging market and developing economies face substantial financing gaps in low-carbon, climate-resilient investments. We need to step up climate action and crowd in private investment for countries most in need,” said Axel van Trotsenburg, World Bank Senior Managing...
Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed the 53 crore beneficiaries mark Through PMJDY, one can avail benefits of multiple schemes via Direct Benefit Transfer (DBT). They include Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri...
Southeast Asia’s InsurTech sector: Needs profitability, customer-centricity and innovation
``To optimize their capabilities and sharpen their customer value proposition, InsurTech firms are exploring innovations across three areas, namely in technology, such as using AI for dynamic pricing and claims management; in product so as to serve emerging, new and...
Disruptive moves: Indian Insurers must modernize core platforms to meet competition and evolving customer expectations
Swayamjit Mishra, Managing Director & Partner, Leads Technology in Insurance for BCG India, said, “The obvious & disruptive moves by insurers have been made, now winners will take the more difficult and bold step of attacking the core. The aim with the core is...