It is important to note that IFRS 17 or Ind AS 117 do not alter the...
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Cyber Insurance: Heightened Indian Risk
Cyber insurance premium costs have increased by over 50% over the...
Indian Fintech: Fast, Furious — and Fraudulent?
Media reports suggest that more non-bank intermediaries after Paytm...
Santa Claus May Be At Serious Health Risk: Experts
Centuries of sherry-drinking, eating mince pies and working night shifts could be putting Santa Claus at serious health risk, according to the Royal College of General Practitioners (RCGPs) – a professional body for doctors in the UK.
Philippines storm death toll climbs to 182, hundreds still missing
The Philippines is pummelled by 20 major storms each year on average, many of them deadly. But Mindanao, home to 20 million people, is rarely hit
Surging bitcoin price pushes up costs for insurers for ransomware attacks
There’s been “a massive escalation” in both the number of attempts and the size of demands as criminals scramble for the hot cryptocurrency, said Michael Tanenbaum, an executive vice president at Zurich-based Chubb. The rise in price of bitcoin correlates,” he said, , declining to specify total costs. Around midyear, top payouts in corporate ransomware attacks began to exceed $1 million, dwarfing the previous maximum of about $17,000, he said.
Innovation hubs emerge in India, Singapore: Capgemini report
The survey covered five sectors: automotive, banking/insurance, consumer products, retail, and telecommunications.
In terms of newly opened innovation centres(between November 2016– October 2017), the US topped the chart, followed by Singapore and Germany in the second and third place respectively.Others in the top 10 include India at the fourth place, UK (5th), Israel (6th), France (7th), China (8th), Canada (9th)and Saudi Arabia (10th), the report said.
Top 10% earners have 55% of India’s wealth: Report
“In 2014, the share of national income captured by India’s top one per cent of earners was 22 per cent, while the share of the top 10 per cent of earners was around 56 per cent. The top 0.1 per cent of earners has continued to capture more growth than all those in the bottom 50 per cent combined,”
Nearly 70% Indian firms might deploy AI before 2020: Intel
Retail and BFSI organisations are leveraging AI to increase efficiency in their sales and marketing function, which has emerged as the second most popular use case.
Life insurers need to focus on existing business for customer experience & profitability, Swiss Re
Retaining customers is an important component in this regard,not least because keeping existing policyholders is less expensive than winning new business. Data analytics can be used to improve customer retention rates in several ways.
Global insured average annual loss from catastrophes almost at USD 80 billion: AIR
Average annual insured losses and the metrics from the aggregate insured exceedance probability curve—for all regions and perils modeled by AIR—have increased since 2012. The rise reflects both the continued development of properties in at-risk areas as well as the growth in coverage of AIR’s modeled countries and perils
Rekindling Growth
The Indian life insurance industry seems to be returning to the growth path Life insurance industry recorded a premium income of Rs 3,66,943.23 crore during 2015-16 as against Rs 3,28,102 crore in the previous financial year registering growth of 11.84 per...
Mutual funds see net redemptions of Rs 73,000 crore in March
mutual fund (MF) schemes saw a net inflow of Rs 1.34 lakh crore in 2015-16. Investors pulled out over Rs 73,000 crore from various mutual fund schemes in March, primarily due to high redemptions in Liquid Funds. Despite this, mutual fund (MF) schemes saw a net inflow...