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Disruptive moves: Indian Insurers must modernize core platforms to meet competition and evolving customer expectations
Swayamjit Mishra, Managing Director & Partner, Leads Technology...
Celebrating Longevity: Caring the silver generation
As life expectancy in India reaches an impressive average of 72...
Watch Out Finance, Business, Tech Workers. Artificial Intelligence Is Coming.
AI is less likely to be able to take over in situations where relationships between people are key, which means men are more likely to be affected than women, Webb said in an interview. “Women are much more likely to be in occupations that require strong interpersonal skills,” Webb said in a phone interview.
Led by India and China,emerging Asia will power global growth:Swiss Re
The main engine of the global economy will be emerging Asia, with near 6% growth in both India and China. The contribution of insurance to resilience will be greatest in this region as well. In China, non-life premiums are forecast to grow by 9 per centin 2020, and life premiums by 11 per cent
Climate change: ‘Clear and unequivocal’ emergency, say scientists
“An emergency means that if we do not act or respond to the impacts of climate change by reducing our carbon emissions, reducing our livestock production, reducing our land clearing and fossil fuel consumption, the impacts will likely be more severe than we’ve experienced to date,” said lead author Dr Thomas Newsome, from the University of Sydney.
Safer skies but claims and risks grow
The report, which analyzes more than 50,000 aviation insurance industry claims worth more than €14.8bn ($16.3bn) from 2013 to 2018[1], reveals that collision/crash incidents currently account for over half the value of all claims (57%) equivalent to €8.4bn ($9.3bn) – and over a quarter of claims by number (27%). In future, more costly grounding incidents, business interruption incidents resulting from cyber and drone events, and more incidences of turbulence are just some of the trends expected to have an influence on the loss landscape, the report notes.
Kenyan farmers snap crops with phones to improve insurance payouts
“This project is trying to combine the information collected by farmers on their smartphones with satellite data. The combined data makes it easy to determine whether a farmer gets a payout,” said IDRC’s Njuki
Water crises ranked as the topmost risk in India:WEF
Fifteen of the world’s 20 most polluted cities are in India (where the issue ranked second), and Dhaka, Bangladesh (where it ranked eight),is also on the list. Pollution poses health and economic risks to these countries: Each year, Bangladesh loses approximately $6.5 billion and India $5 billion due to pollution and environmental degradation.
Building Indian Fintech & Cyber Security
We have the people, the talent and the capital to help create opportunities for Indian Fintechs to grow and test their Fintech products.We also have some of the friendliest regulation for FinTech’s globally.And since 2014, the Financial Conduct Authority has operated ‘Project Innovate’, with a regulation sandbox which has helped hundreds of firms from across the world get access to the market.
Unlocking value for P&C insurers : Advanced analytics may present a crucial way
-Insurers can grow, optimise existing portfolios and become more efficient using advanced analytics that combine data science, extensive risk knowledge and industry expertise
-In particular, commercial lines can catch up with personal lines, which currently use analytics more extensively, through exploiting the rapid explosion in the number and breadth of structured and unstructured data sources
-Insurers can target at least a 2-5% improvement in loss ratios under real trading conditions with use of advanced analytics
7 global trends making engineering & construction projects bigger & costlier than ever
Analysis by Allianz Global Corporate & Specialty (AGCS) of more than 13,000 engineering insurance claims over the last five years has identified seven major trends in engineering and construction projects, driving some of the largest losses ever, according to a new report by the insurer. The report also examines how new technologies, such as drones, satellites, lasers, and computer modeling, are increasingly being used to speed up claims and mitigate risks
Closing the infrastructure gap
Globally, there is a need to invest USD 69.4 trillion in infrastructure between 2017 and 2035, which amounts to USD3.7 trillion a year. Approximately USD43.7 trillion (63% of the global total) is required in emerging markets, with China and India alone accounting for USD 23.6 trillion (34%) and USD 5.6 trillion (8%) respectively.