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Total market cap of listed InsurTechs surpasses $22 billion in 2020:Capgemini Report

Sep 16, 2021 | , , , ,

For the first time, 50% of customers today are willing to consider coverage from a new age player.

“As traditional insurers expand their ecosystems to remain competitive, they must increasingly consider the value achievable through trusted partners, including BigTechs, InsurTechs and non-traditional players like original equipment manufacturer (OEMs). The numbers clearly suggest that exponential InsurTech growth is here to stay, so delivering superior customer CARE(Convenience, Advice and Reach) is essential. Future success in the industry will depend on players’ existing capabilities across the value chain, willingness to invest, and desire to own the customer relationship,” said John Berry, CEO of Efma.

GST Council to meet on Friday; rate review, tax concession to 11 COVID drugs on cards

Sep 16, 2021 | , , ,

The Council, comprising central and state finance ministers, will deliberate on the proposal of extending the existing concessional tax rate structure on Amphotericin B, Tocilizumab, Remdesivir, and anti-coagulants like Heparin, till December 31, 2021, from the present September 30.

Tax rate on Amphotericin B, Tocilizumab was cut to ‘Nil’, while Remdesivir and Heparin were reduced to 5 percent in June 2021.

The Council on Friday may also discuss the proposal of reducing GST from 12 percent to 5 percent to seven more drugs till December 31, 2021. These are Itolizumab, Posaconazole, Infliximab, Bamlanivimab & Etesevimab, Casirivimab & Imdevimab, 2-Deoxy-D-Glucose, and Favipiravir.

Asia supercharges vaccination efforts after slow start, U.S. lags

Sep 16, 2021 | , , , ,

While each country’s inoculation strategies differ, Asia’s momentum reflects pent-up demand for the shots as a means to ease lockdowns, said Paul Griffin, an infectious disease expert at the University of Queensland in northeast Australia.

Australia is giving priority supplies to its largest cities, which are in lockdown to contain a third wave of infections fuelled by the Delta variant. It expects to have enough to complete vaccinations of those older than 12 by mid-October. read more

Japan has overcome initial logistics hurdles to give about a million shots a day since mid-June, as urgency has grown after Delta unleashed an unprecedented wave of infections and serious cases in August.

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