Jennifer Richards, CEO designate, Asia Pacific, Aon "The Asia...
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LIC unveils digital `one man office’ for its sales force
Siddhartha Mohanty, CEO & MD, LIC One Man Office (OMO), offered...
Willis and Global Parametrics deliver new parametric solution to coffee farmers in Vietnam
If the rainfall dips below predefined values, the insurance is...
IBAI votes out its president Sanjay Kedia, elects five new faces as directors
IBAI’s 15-member board of directors, have chosen Sumit Bohra as the new the new president of the association.
After voting out some existing directors who were seeking re-election, the brokers had elected five new faces as directors for three years,.
They are Sundaram Venkatavaradan of Abhivridhi Insurance Brokers. Rashmi Ravi Iyer of Global Insurance Brokers, Sandeep Dadia of Aditya Birla Insurance Brokers, Mohan Sriraman of Paavana Insurance Brokers, Surender Kumar Tonk of Advance Life Insurance Brokers
Asia Pacific health care benefit cost expected to jump by 8.5% in 2021, Willis Towers Watson survey
The 2021 Global Medical Trends Survey, the largest of its kind, found that medical insurers in APAC project health care benefit costs will take a sudden drop in 2020 before rebounding to 8.5% in 2021, up from 6.2% this year and 7.5% in 2019.
Markets including China (9.3%), India (10%), Indonesia (12%), Malaysia (12.5%), New Zealand (20%), Philippines (8.8%), Singapore (8.2%), Thailand (8%) and Vietnam (10.2%) will see an increase in excess of 8% next year.
According to the study, cancer (79%), cardiovascular diseases (76%), and conditions affecting musculoskeletal and connective tissue (42%) are the top three conditions currently affecting medical costs in APAC, with cancer and cardiovascular diseases expected to remain so in the near future.
As globe gallops into vaccine trials, insurers remain unfazed
While more than 40 experimental COVID-19 vaccines are being tested on humans, the insurance companies with decades of experience in assessing the risks of clinical trials don’t see anything to be unduly concerned about.
Executives at insurer Allianz and brokers Gallagher and Marsh, among the leading players in clinical trials insurance, told Reuters that premiums had only marginally increased so far in the current pandemic
16 to be interviewed on Oct 9 for selecting 2 IRDA members
Among other candidates who have been short- listed for the member, distribution are Girija Kumar, former CMD, Oriental Insurnace Company, Suresh Mathur, executive director, IRDAI, Randeep Singh, chief general manage,IRDAI Girish Radhakrishnan, CMD, United India Insurance, DTV Sastri,former general manger,UII
Marsh India completes acquisition of JLT Independent
The acquisition of JLT Independent further strengthens Marsh”s position as a leading insurance and reinsurance broker and provider of risk management solutions in the country, where it serves more than 5,000 clients through its 17 offices.
Indian insurance industry strikes a chord with “Diversity and Inclusion”
The themes for this year’s edition included mental health, inclusivity in multi-generational workplaces, among others.
The India festival was organised by AIG, Anviti Insurance Brokers, Lloyd’s, Swiss Re and Willis Towers Watson
InsuranceDekho to get $20 mn funding from GirnarSoft for branding, others
“This new capital infusion will be used to expand our digital footprint. We are already a force to reckon with in the B2B space. With this round we aim to invest in branding and marketing to further strengthen our B2C platform which has been seeing strong traction over the last 2 quarters,” InsuranceDekho CEO and co-founder Ankit Agrawal said.
Mahindra Insurance Brokers launches paybima.com
Jaideep Devare, managing director, Mahindra Insurance Brokers said, “The financial services industry is witnessing the rise of a new tech-savvy millennial customer segment, augmented by increasing internet penetration and smartphone usage. PayBima, with its advanced analytics and personalised customer journeys, reinvent our offerings and leverage technology to cater to the evolving needs of our customers.”
HDFC Life & Apollo Clinic sign corporate agency partnership
Apollo Clinic is the first healthcare company in India, to have secured a corporate agency for the distribution of Insurance products.
This partnership will allow customers of Apollo Clinic to sell wide range of life insurance products by HDFC Life.
Alphabet’s Verily targets employer health insurance with Swiss Re partnership
Alphabet Inc’s life sciences division Verily’s new subsidiary, Coefficient Insurance Company, will be backed by the commercial insurance arm of Swiss Re, which is also making a minority investment in the new company.
“Coefficient is aimed at reducing blind spots and providing greater cost control mechanisms for self-funded employers,” Verily Chief Executive Officer Andy Conrad said in a statement.
Self-insurance arrangements are increasingly commonplace among larger employers, who typically pay health insurers to manage their healthcare benefits, but cover the costs of those claims themselves.