Insurers are expecting a "wave of notifications" in the coming...
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CrowdStrike Crisis: Negotiating ‘Blue Screen of Death’ (BSOD) loop
Clear understanding and documentation of cyber insurance policies...
Budget FY2024-25: Indian Insurance Industry’s Wish-list
The upcoming Budget 2024-25 is crucial for advancing insurance...
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
Global debt reaches an all-time high of $184 trillion, 225 percent of GDP in 2017
On average, the world’s debt now exceeds $86,000 in per capita terms, which is more than 2½ times the average income per-capita.The most indebted economies in the world are also the richer ones. You can explore this more in the interactive chart below. The top three borrowers in the world—the United States, China, and Japan—account for more than half of global debt, exceeding their share of global output.
What does the future hold for data privacy?
A group of mobile telephone operators in India has begun a pilot project with the World Health Organisation to identify whether their network data can provide insights into population volume and movement patterns and be used to improve planning to control the spread of tuberculosis – one of the biggest killers in the country.
Virtual Competition: Online Platforms, Consumer Outcomes and Competition in Insurance
The importance of platforms in insurance is likely to increase further, due to the deployment of new technologies and shifting consumer expectations. A global consumer survey (unpublished) by The Geneva Association and Edelman Intelligence revealed that 60% of respondents would go online to look for information about insurance. Platforms such as Google, Amazon, and Alibaba have entered into agreements with insurance companies or are otherwise weighing up their entrance to the insurance space.
LIC’s Global Call
We have to make LIC , a global financial conglomerate!! LIC has achieved a cult status as far as life insurance is concerned. Now I dream of a day when LIC of india will acquire a similar status as a conglomerate. This is my ultimate vision for LIC @ 75… A place where all kinds of people, with all kind of needs and in all kinds of places: are served under just one roof…that of LIC of india…and they need not go anywhere else, ever!!!