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Renewable Energy: Nat Cat and unmodelled extreme weather risks emerge as a defining challenge
A new report by GCube Insurance calls for action from insurers,...
Financial Preparedness: Health Insurance gains ground
Indians continue to favor traditional financial investments such as...
urban risk landscapes to be driven by 3 main underlying trends:Geneva Association report
Man-made climate change not only directly affects the frequency and severity of weather-related hazards, it also brings longer-term shifts such as sea level rise, water scarcity and quality issues, as well as sustained higher temperatures and heatwaves, said the...
climate talks lends India time to transition
The Global Climate Risk Index 2021, a ranking from research group Germanwatch, put India among the top 10 countries most affected by climate change. The South Asian nation is experiencing rising heat and sea levels, as well as erratic rainfall and stronger cyclones....
Analysis: COP26 message to business – clean up to cash in
New Carbon market rules set to drive investments1.5C target adds pressure for more net-zero plansScrutiny of fossil fuels could shake-up industries GLASGOW: The hard-fought Glasgow Climate Pact sent a clear message to global companies and executives: reassess business...
World Diabetes Day: Doctors emphasize on ‘timely treatment and diagnosis’ of diabetes
It is estimated that by 2045 India will overtake China to become the Diabetes capital of the globe. I see around 40-50 patients of diabetes daily and have observed that males are at a higher risk of Type2 diabetes because it has been hypothesized that the female...
What’s in the Glasgow Climate Pact? Five majors outcomes
Nearly 200 nations agreed to adopt the Glasgow Climate Pact on Saturday after more than two weeks of intense negotiations, with the UK host of the talks saying the deal would keep alive international hopes of averting the worst impacts of global warming. Failure to...
Flooding: more likely, more extreme and more unpredictable
-Unprecedented weather patterns are challenging the flood risk landscape, which was previously well defined by government and historic records-Many flood damages occur outside of mapped river floodplains, and companies outside larger hazard zones can still be affected...
India saw 125 extremely heavy rainfall events this Sept, Oct: IMD
New Delhi:India recorded 125 extremely heavy rainfall events during September and October in 2021, the highest in five years, owing to the late withdrawal of the southwest monsoon and higher-than-normal low-pressure systems, India Meteorological Department (IMD) said...
Govt ready with the blueprint to manage disasters in India: Amit Shah
Now, the government has also prepared a plan to integrate all the agencies and departments, even the smallest of the units. Whether it is a small village or a big metro city or a remote district, or a coastal city, every place has a plan ready to respond to the disaster.
The change in approach has yielded very good results, the 1999 cyclone alone killed 10,000 people and this year there have been three cyclones but the death toll is not more than 50.
Indian general insurers defy Covid barriers, record 300% jump in net profit to Rs 3,868 cr during FY2021
An analysis by AIP Analytics shows, though, the industry witnessed a massive disruption due to the onset of Covid-19 Pandemic since March 2020, in terms of key parameters like gross premium, number of policies issued, underwriting losses/ profit , Combined ratio, gross claims, no of employees and foreign direct investment and investment in infrastructure and social sectors, the Indian general insurance industry has seen a significant improvement during FY 2020-21.
The first half of 2021- 22 has definitely seen a reversal in several aspects.Primarily the second wave has hit the helath insurance portfolio much harder , motor insurance has seen more intense price competition due to lower demand of new vehicles while at the sametime There is no lockdown effect this time. Prices for small and medium risks have plummeted in the property space . All These point towards a much worse performance of
the Indusrty going forward,”cautioned the analysts.
Financial services beware, outsiders are cracking the code
Global brands from Mercedes and Amazon to IKEA and Walmart are cutting out the traditional financial middleman and plugging in software from tech startups to offer customers everything from banking and credit to insurance.
“Embedded financial services takes the cross-sell concept to new heights. It’s predicated on a deep software-based ongoing data relationship with the consumer and business,” said Matt Harris, a partner at investor Bain Capital Ventures.
“That is why this revolution is so important,” he said. “It means that all the good risk is going to go to these embedded companies that know so much about their customers and what is left over will go to banks and insurance companies.”