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LGBTQIA+ community: 9 in 10 in India secure their financial future, says Max Life’s study
With a population estimated to be around 135 million people, or...
Shipping: Losses hit all-time low despite increasing risks for the sector: Allianz Report
The number of shipping incidents reported globally declined...
“Tech and cyber dominate insurers’ horizon scanning of business risks”
Urgent need for business and technology modernisation poses the greatest threat to the global insurance industry according to the survey. At the heart of responses was the view that many sector players are weighed down by legacy business models and IT infrastructure that are poorly equipped to handle the changing demands of the industry.
Motorbike Taxi Firms to Offer E-payment, Insurance Services in West Africa
As in Asia, the companies are also looking to turn their ride-hailing apps into one-stop mobile shops offering a host of services from e-payments to deliveries to insurance – the kind of strategy that transformed Indonesia’s Go-Jek into a $10 billion company in less than a decade.
Indian Millennials prefer buying larger Health Cover:Policybazaar
The latest trend of shifting preference towards buying policies with higher sum insured is in sharp contrast to the millennial buying trends five years back, when Rs. 3 lakhs and 2 lakhs were the most sought after health cover marks.
Getting Real on Climate Change Commitments
A new IMF paper discusses how carbon prices could be used to meet Paris CO2 mitigation pledges. The pledges and required carbon prices to meet those commitments vary by country, and the paper considers the impact on CO2 emissions of $35 and $70 per ton carbon prices. A carbon price significantly below $35 per ton would be sufficient to meet the pledge for the G20 countries, which together account for four-fifths of global emissions, and this is also true for key G20 members such as China and India.
Internet of Things: Value for Insureds
The Internet of Things is transformative for business processes too, and is being used to great effect across all sectors. Not only is IoT streamlining many processes for companies, it can also be used as a risk management and loss prevention tool.
Closing the Gender Gap
Women make up almost half of the world’s working-age population of nearly 5 billion people. But only about 50 percent of those women participate in the labor force, compared with 80 percent of men. The losses to an economy from economic disempowerment of women were estimated to range from 10 percent of GDP in advanced economies to more than 30 percent in South Asia and in the Middle East and North Africa.
AI and Risk Management
Key Takeaways
• Understanding the debate about the impacts of Artificial General Intelligence (AGI) is good but your organization is more likely to intersect AI in a narrow application. Understand the role that the volume and quality of data will play in your implementation. Be clear about responsibilities and obligations of data stewardship.
• Introduction of AI is enabling the successful achievement of corporate objectives. Consider AI as a driver or amplifier of existing risks already on your radar.
• Change is inevitable. Your career will change, and you need to participate in that evolution. Opportunities exist for those who can apply the principles of continuous learning
Insuring The Sharing Economy
As traditional ways of doing business become more fluid, new risks and uncertainties are emerging. In particular, many sharing economy companies currently assert that whatever happens in the course of a peer-to-peer transaction is between the participants and all they are doing is supplying the platform.
Interim Budget 2019-20: Focussing on Health Insurance & Wearable Technology
The Union Budget of 2019 can provide an instant fillip to health insurance by incentivising manufacture and sale of health wearable technology devices and biosensors. Similar to the boost provided to the education sector through distribution of laptops to students and the revolution in the communication sector through enhanced mobile connectivity, tax breaks on wearable health devices can stimulate the economic growth rate through social wellbeing.
Bonding with Banks
There is tremendous scope for innovation given the large number of banking customers. With banks selling insurance products of more than one insurance company, options are also in abundance with the scope for customised product offerings. For instance, loan secure products which give the customer the protection to from paying financial liabilitiesin case something unfortunate happens