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Eco/Invest/Demography

Record-high InsurTech funding of $7.1 billion achieved in 2020

Compared with 2019, total funding increased by 12%, while deal volume increased by 20%. InsurTechs raised $2.1 billion across 103 deals during Q4, with 67% of the funds attracted by property/casualty-focused firms. Life & health InsurTechs saw a modest decrease in deal share of 1.6 percentage-points in the quarter, and an 8.4 percentage-point decline in total funding over Q3, 2020.

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India turns to artificial intelligence for better and faster economic data

The Ministry of Statistics is ramping up use of artificial intelligence for collecting, analyzing and reporting data to better monitor the economy. The measures include a $60 million program with World Bank help using an information portal that collates real-time data.
“Because of the changing landscape, there’s a growing need for more and more data, faster data and also more refined data products,” Statistics Secretary Kshatrapati Shivaji said in an interview. With end-to-end computerization, “this type of automation will enhance the quality, credibility and timeliness of data.”

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Many more COVID-19 vaccines will be made available from India to help world fight pandemic swiftly: PM

He also referred to a new initiative to provide a unique health ID to 1.3 billion citizens for easy access to healthcare. ”I assure you that every success of India will help the world to succeed. Our Aatmanirbhar Bharat mission is fully committed to global good and global supply chain,” he said.

Modi also talked about Aadhaar, UPI transactions and data privacy laws.

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COVID-19: India records 11,666 new cases, 147 districts record no new COVID-19 infections in last 7 days

The number of people who have recuperated from the disease surged to 1,03,73,606 pushing the national COVID-19 recovery rate to 96.94 per cent. The COVID-19 case fatality rate stands at 1.44 per cent.
“We have completed 42,674 sessions of vaccinations all over the country. As many as 23,55,979 people have been administered the COVID-19 vaccines so far and 3,26,499 health workers have received the vaccines in the last 24 hours,.”said Harsh Vardhan, Union Minister of Health and Family Welfare.

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