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FinMin to implement ‘One State-One RRB’ soon to achieve better efficiency
As of 31 March 2024, 43 RRBs are operating through a network of...
Narendra Bharindwal appointed as president of IBAI
Narendra Kumar Bharindwal, President, Insurance Brokers Association...
Aon to sell its U.S. Retirement Business to Aquiline and its Aon Retiree Health Exchange Business to Alight
Aon and Willis Towers Watson have previously announced the divestiture of Willis Re, a set of Willis Towers Watson corporate risk and broking and health and benefits services, and Aon’s retirement and investment business in Germany.
Howden launches Parhelion, world’s first fully sustainable insurer
Against the backdrop of an insurance industry starved of truly sustainable capacity, Parhelion’s new and diversified ESG products will meet the risk financing needs of a greener economy.
The new business has been seeded by Howden and will match the surge in institutional capital seeking sustainable investment strategies with the growing demand from corporates looking for an insurance provider to support their journey towards ESG transition and a more resilient future.
At the end of 2020, over $40tn of assets globally were invested in ESG-aligned and sustainable impact strategies, nearly double the amount invested just four years earlier*, but very little has been deployed across the (re)insurance industry.
Willis Towers Watson launches new Sports and Entertainment Industry Group
Ian Tomlin, Head of Accident & Health, Willis Towers Watson commented, “We are excited to launch the Sports & Entertainment industry group, which will align a breadth of expertise across the network to offer the sector a new comprehensive, global approach to risk management. We are delighted to be working across the global sports industry as well as supporting event organisers and production companies in partnership with the Willis Towers Watson Leisure and Hospitality Practice.”
German ‘insurtech’ Wefox raises $650 mln at valuation of $3 bln
Wefox founder and CEO Julian Teicke told Reuters the Series C round had drawn strong investor demand because Wefox was growing both rapidly and more profitably than rival online insurers that are losing money.
He put that down to Wefox’s strategy of offering digital tools that enable insurance agents to streamline and automate labor intensive processes. Agents sell nine out of every 10 policies in Europe, leaving direct-to-consumer competitors like Lemonade fighting for a smaller piece of the market.
Lloyd’s to partner London Market Insurance Companies and DXC Technology to transform its digital processing
London: Lloyd’s, London Market Insurance Companies and DXC Technology partner to transform the technology and digital processing that powers the world’s largest insurance marketplace. Lloyd’s, DXC Technology, the Boards of the Lloyd’s...
Irdai slaps Rs 24 lakh penalty on Policybazaar for violating advertisement norm
Policybazaar said it had issued the SMS to keep their customers updated and not to mislead the customers. They also confirmed that they have stopped the SMS immediately on receipt of the Authority”s communication, Irdai said.
Howden acquires specialist medical and healthcare broker MPRS
Founded in 2014 by James Dunsby and Chesney Phelps, MPRS is an award-winning insurance broker for medical professionals and healthcare organisations across the UK. It provides accident & health, professional liability, medical malpractice, and commercial combined cover for general practice, private practice and GP federations.
Buffett’s Berkshire buys a $943 million stake in Aon
At Berkshire’s May 1 annual meeting, Buffett said his Omaha, Nebraska-based company would like to spend $70 billion or $80 billion, but would probably not get a chance until the market offered better values.
Insurance for safeguarding employee value:Lloyd’s report
COVID-19 has exacerbated many of the risks involving human capital value. With the pandemic impacting the entire workforce globally, and many organisations still operating under a remote working model, the value of employees in achieving productivity is vital for business continuity. It is becoming increasingly apparent that talent attraction and retention, and employee wellbeing are not just intrinsically linked, they also have a direct impact on business performance.
World Insurance Report 2021: Insurers must blend physical and digital distribution models in a post-pandemic era
AI-based analytical tools and a 360-degree view of customers is essential for a customized customer-experience. The most successful insurers will win and retain customers by reinventing their operating ecosystem to support a ‘phygital’ model based on a mix of physical presence and digital engagement.
“Insurers have an opportunity to convert digital traffic to sales by focusing on a hyper-personalized virtual experience,” said Anirban Bose, CEO of Capgemini’s Financial Services and Group Executive Board Member.