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Indian Insurtech sector attracted $ 2.5 bn funding, more investment to flow: Report
(Lto R) Vivek Mandhata, managing director & partner, Boston...
After FM, Irdai chief urges bankers to avoid mis-selling of insurance
“I wish to say this for the due consideration of the bank boards ,...
Boeing lifts China jet demand estimate over two decades to $1.47 trln
Chinese airlines will need 8,700 new airplanes through 2040, 1.2% higher than its previous prediction of 8,600 planes made last year. Those would be worth $1.47 trillion based on list prices, the U.S. planemaker said in a statement.
Earlier this month, Boeing revised up long-term forecasts for global airplane demand on the back of a strong recovery in commercial air travel in domestic markets like the United States.
EU plans 120 billion euro economic boost by easing insurance rules
Olav Jones, deputy director general for Insurance Europe, an industry body, said he welcomed EU acknowledgement of the need to reduce capital requirements, but only a “significant and permanent” cut in capital would allow insurers to increase support for the economy and regain global competitiveness.
Brussels proposed easing the impact of the so-called volatility adjustment, which mitigates the impact of short-term market moves on insurer solvency.
It also wants to make it easier for insurers to benefit from preferential capital treatment worth around 10.5 billion euros from investing in long-term assets to green the economy.
QubeHealth & Nova Benefits to provide full-stack health and wellness benefits to Indian companies
Collectively serving over 500 companies in India, both companies are on a mission to help HR Teams make better healthcare decisions for their employees and for the employees to access and easily pay for the healthcare they need.
Telangana-Wingsure pact to provide AI-driven insurance advisory services to farmers
Farmers are vulnerable to the impact of climate change and other livelihood risks. They have sub-optimal access to risk awareness programs, modern resources, and government-backed schemes.
The alliance is among the first in the global farming ecosystem and will help Telangana to promote social inclusion and digital transformation in Indian agriculture. Overall, it will support the government’s objectives to promote economic empowerment and offer opportunities for collaboration, innovation of value chains, growth, and job creation.
Underserved farmers in the state will access diverse insurance solutions with rapid claim resolution through mobile phones using the Wingsure app.
Kharif foodgrain output estimated at record 150.50 mn tonne this year: Govt
Releasing the first advance foodgrain production estimate for the ongoing kharif season, Agriculture Minister Narendra Singh Tomar said: “A record foodgrain production is estimated at 150.50 million tonne in kharif season.”
Bumper crop is being achieved on account of tireless hard work of farmers and scientists besides farmer-friendly government policies, he said.
Britain launches 220 mln pound support scheme for industry to go green
“With innovation and investment across the economy, we can power the UK’s green industrial revolution. But we know for the most polluting and energy-intensive businesses, this will mean a big shift in the way they operate,” Prime minister Boris Johnson said in a statement.
U.S. flood insurance rates to rise for 77% of policyholders -study
Under the new “Risk Rating 2.0” system from the U.S. Federal Emergency Management Agency (FEMA) taking effect Oct. 1, new premiums will be based on a property’s value, risk of flooding and other factors, rather than simply on a home’s elevation.
Meant to account for climate-change-driven shifts like increasing flood frequency, the new plans also will make the program more equitable, said Nick VinZant, QuoteWizard senior research analyst.
UK adds Covishield to approved vaccines list, but no quarantine relief for Indians in updated travel advisory
The move will also mean that a pre-departure PCR test is no longer required as long as vaccinated travellers pre-book a day two test post-arrival in England and complete the compulsory passenger locator form in advanc
MS Amlin AG appoints Robert Wiest as CEO
Robert Wiest brings over 30 years of industry experience. During a career at Swiss Re spanning over two decades, most recently as Chief Operating Officer, Wiest has successfully led business units as the Head of Global Business Solutions, Head of Strategy and Operations for Asia, and Head of Western and Southern Europe, the Middle East, and Turkey.
Brit launches machine learning algorithm to enable faster claims response to catastrophe events
In this latest innovation, Brit’s Data Science team developed and overlaid a machine learning algorithm to access the ultra-high-resolution ariel images and data such that it pinpoints, color-codes, and displays properties by damage classification within days after a catastrophe event. This enables the Brit Claims team to proactively identify, triage and assign response activity even before claims are reported.