The Iran-Israel conflict is, in many ways, a stark reminder of the...
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Term Insurance: Women’s preferred financial product
Bajaj Allianz Life Women Term Survey highlights a significant shift...
Motor Insurance: Driven by technology
One of the most notable societal benefits of telematics in motor...
Modernising Fraud Risk Management: a must for Insurers in Pandemic
Equipped with subject matter expertise, technology, insight, connections, and money, these fraudsters are running mini organized crime empires across the country. With help from insiders, they have mapped the insurers to understand their SOPs, priorities, approach and risk appetite.
Indian insurance companies have also learned and devised effective fraud risk mitigation techniques aimed at controlling these leakages. They have invested in technology and embraced analytics in their fight against fraud.
Has global automobile market revived?
By market, India market showed the largest increase of 95.2 per cent year-on-year. It was followed by Russia (38.2 per cent |), the US (29.3 per cent |), China (27.5 per cent |), Europe (27.1 per cent |), Brazil (26.3 per cent |), and Mexico (18.1 per cent |). Compared to the first half of 2019 before COVID-19, India (1.5 per cent |) and Russia (6.0 per cent |) showed positive growth rate. The U.S. (1.3 per cent |) and China (1.1 per cent |) also showed similar level before COVID-19. However, Brazil (24.6 per cent |), Europe (23.0 per cent |), and Mexico (19.6 per cent |) showed relatively slow recovery.
ANALYSIS-Climate science struggles with ‘blind spots’ in developing nations
Only 35% of the authors working on the sixth assessment report – the current series that will culminate in a synthesis due to be finalized in September next year – hail from developing countries, according to a study published in the MDPI journal Climate, up from 31% for the fifth assessment report. Huq said that during his time working on the third and fourth IPCC assessment reports, published in 2001 and 2007, the number of scientists’ nationalities increased – but countries in the Global South were represented by just one or two authors.
Claim and counter-claim: health insurance key point of debate in pandemic
Health insurance companies received a total of 23.06 lakh claims from April 2020 till August 6, 2021, of which 13.19 lakh claims worth Rs 14,783 crore were received since April 1 this year, it said.
But why are claims being rejected? Giving the flip side of the picture, companies in the business said there are various reasons, including patients hiding pre-existing conditions or raising a claim before the waiting period of certain days after purchasing a policy.
Extreme weather makes everything harder, except climate-risk analysis
The findings were hardly surprising to those who follow climate science closely, but the gravitas of the report, which summarizes work by thousands of academics, will shift the broader conversation on global warming for years to come.That we now acknowledge, without doubt, that rising global temperatures are causing more extreme weather underlines the importance of all the work being done to assess the financial costs of climate change. It is also a reminder that financial analysts, policymakers and economists can’t begin to capture the full scale and effect of a warming planet.
Misplaced Confidence: Is India ready for another Covid wave?
Epidemiological models that predicted the second wave suggest that another, shallower wave might hit India as soon as this month. And the country isn’t nearly as ready as it thinks.Part of what is driving overconfidence is the particularly devastating nature of India’s second wave.
9 trends to watch as aviation readies for post Covid-19 takeoff:Allianz
The sudden halt imposed on the aviation industry by the Covid-19 crisis hit the sector hard. In April 2020, two-thirds of the global commercial aviation fleet sat idle on the tarmac, while passenger traffic was down 90% year-on-year. Today, the aviation industry is slowly rebounding, led by domestic travel.
As more aircraft return to the skies, a new report from aviation insurer Allianz Global Corporate & Specialty (AGCS) highlights some of the unique challenges airlines and airports face as they restart operations – ranging from “rusty” pilots to insect infestations. It also identifies a number of ways in which Covid-19 is reshaping the sector, driving long-term changes in fleet composition, flight routes and passenger demand.
Building Climate Resilience in India – Challenges and Opportunities for the BFSI sector
In India, until a few years ago, the topic of climate change and related risks rarely found strong traction in the BFSI sector in India. Till date, most banks and insurers still do not take a sufficiently forward- looking view on climate change and its long-term financial impact. The Financial Stability Board published the second status report on adoption of the recommendations of the Task Force for Climate-related Financial Disclosures on June 5, 2019. The report observed that disclosure of climate-related financial information has increased since 2016, but is still insufficient for investors, especially on the financial impact of climate-related issues on companies
What is a breakthrough infection? Here’s a guide to what you need to know
No vaccine is 100 per cent effective. Dr Jonas Salk’s polio vaccine was 80 per cent-90 per cent effective in preventing paralytic disease. Even for the gold standard measles vaccine, the efficacy was 94 per cent among a highly vaccinated population during large outbreaks. Comparably, clinical trials found the mRNA vaccines from Pfizer and Moderna were 94 per cent 95 per cent effective at preventing symptomatic COVID-19 much more protective than initially hoped.
Pandemic Travel Rules
The best strategy isn’t yet clear, but one thing is common: Few are taking into consideration families as a unit.
Acknowledging the difficult balance between the realities of employment and family demands could become one of the most important steps to opening up economies. But until parents have more clarity about how to cross borders with their young children, or the hoops they have to jump through to be with them, there’s little hope of a full recovery.