K Rajaraman, chairman, International Financial Services Centre...
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Aon appoints Magnus Roe as global chief data and analytics Officer based in Singapore
Magnus Roe, global chief data and analytics officer, Aon This...
Emerging-risk resilience: Majority of APAC risk leaders concerned about their organisations in the next decade
Geopolitical issues, natural catastrophe events, climate transition...
Better incentives for better quality healthcare providers under AB-PMJAY: National Health Authority CEO
As of now, Ayushman Bharat Scheme has been implemented in all 33 states and union territories, Dr.R.S. Sharma said.
On the topic of fraudulent billing by hospitals, Dr R.S. Sharma highlighted, “We have a very robust IT system in place for fraud detection. Every single instance of fraud is immediately detected and investigated. We have anti-fraud software and systems deployed on our platform that immediately catches on any pattern that seems even remotely suspicious and this is investigated and appropriate action is taken.”
Global reinsurers’ profitability improve in H1, inflation and rate deceleration remain concern, Willis Re
Continued favourable pricing, particularly for commercial lines business, supported meaningful premium growth for the
majority of the (re)insurers
The average combined ratio for the (re)insurers was 93.7%,with every company posting a sub-100% combined ratio.
Despite the strong H1, two concerns weigh on the outlook: the decelerating rating environment and the prospect of higher inflation, said the report.
Ships resume berthing at halted port terminal in China
The partial closure of the world’s third-busiest container port worsened congestion at other major Chinese gateways such as Shanghai, Xiamen and Hong Hong, as ships diverted away amid uncertainty over how long virus control measures in the city would last.
Aon unveils a new team for its global operations
Joe Monaghan will assume the role of global growth leader and will have full responsibility for overall growth strategy. This includes developing innovation at scale and integrating practice groups, client segments, global specialties, capital advisory, securities and regional growth priorities and strategic growth leaders.
Insured losses from Europen floods between $6 billion– $7.7 billion:RMS
The loss estimate includes insured property and business interruption loss to residential, commercial, industrial, automobile, and infrastructure lines and accounts for the potential of post-event loss amplification and extended business interruption. It excludes losses observed in the Netherlands, which sits outside of the model domain, and losses in Switzerland, Bavaria and Saxony in Germany, and Austria, which were caused outside the time window of the heaviest rainfall.
17 major global reinsurers record $ 6.1 billion Covid-19 pandemic-related losses in H1:Fitch
Pretax income for life and health reinsurance business improved notably in 1H21, despite an increase in mortality losses from the pandemic to USD2.5 billion in 1H21 (1H20: USD1.3 billion), as investment results rebounded. Net premiums earned (NPE) increased in 1H21 for life and health reinsurers overall, with six of the eight companies reporting higher NPE.
Crop sowing lags in India on scanty rains, raises concerns over yields
India is the world’s biggest exporter of rice and top importer of edible oils. A drop in production could not only limit rice and cotton exports, but also boost imports of edible oils such as palm oil, sunflower oil and soyoil. Indian farmers had planted 104.4 million hectares (25.8 million acres) with summer crops as of Aug. 20, down 1.6% from a year earlier, the Ministry of Agriculture & Farmers’ Welfare said in a statement.
Ki appoints Richard Hodgson as its chief technology officer
Mark Allan, CEO, Ki said: “At Ki, we are taking a technology first approach to underwriting. We are therefore delighted that Richard joins Ki in the newly created role of CTO. Richard will bring an entrepreneurial approach and proven experience in scaling technology in a high-growth business as we look to continually explore new opportunities to provide a best-in-class and differentiated digital service to the market.”
Modernising Fraud Risk Management: a must for Insurers in Pandemic
Equipped with subject matter expertise, technology, insight, connections, and money, these fraudsters are running mini organized crime empires across the country. With help from insiders, they have mapped the insurers to understand their SOPs, priorities, approach and risk appetite.
Indian insurance companies have also learned and devised effective fraud risk mitigation techniques aimed at controlling these leakages. They have invested in technology and embraced analytics in their fight against fraud.
COVID-19 third wave peak likely in October: NIDM report
Emphasising the effect of the potential COVID third wave on children, the report said the Indian Academy of Paediatrics found that there is no biological evidence that the current and the new Delta Plus variant will affect children more than adults.