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Every minute 177 Ayushman Bharat cards made, 30 hospital admissions undertaken: Health Ministry
Under PM-JAY around 5.59 crore hospital admissions have been...
ONDC to launch insurance products in its network this week
Providing massive opportunties to the insurance industry, the...
India’s passenger vehicle sales plunge 24% in September
Passenger vehicle sales dropped to 223,317 units in September, the Society of Indian Automobile Manufacturers (SIAM) data showed, while passenger car sales dived 33.4% to 131,281 units.
Kenyan farmers snap crops with phones to improve insurance payouts
“This project is trying to combine the information collected by farmers on their smartphones with satellite data. The combined data makes it easy to determine whether a farmer gets a payout,” said IDRC’s Njuki
London market premium rises to £28.4 bn
Dave Matcham, chief executive of the IUA added: “The data returns for this year’s report cover a period before the implementation of most Brexit contingency plans. Such is the diversity of London Market business models, however, it is already certain that Brexit will impact different firms in quite different ways. London is at the heart of an intricate web of cross-border business which is set to become even more complex.”
General Insurance premiums grow 17 % to Rs 96,000 cr in H12019-20
“We have got a very clear plan in place grow our business. Due to certain practices of certain players, it is now difficult to compete in motor insurance business. That’s why, we are concentrating on other segments like marine, hull, aviation, property and engineering which constitute now more than 50 per cent of our portfolios,’’ said Atul Sahai, CMD, NIA.
Munich Re invests $ 250m more in Next Insurance
This investment emphasises Munich Re’s commitment to be the leading provider of digital insurance solutions. It also helps Munich Re expand its footprint in the promising insurance market for small and medium-sized commercial customers in the United States. We are confident that building on our proven collaboration will benefit both Munich Re and Next Insurance,”Joachim Wenning, chairman, Munich Re
Fundamental changes to insurers current model unavoidable:WITR 2019
The roadmap to the future requires insurers to break internal silos, seamlessly connect with ecosystem players, and become inventive. Inventive Insurer competencies cover intelligent processes, open platforms,customer centricity, and an innovative corporate mindset, according to WITR 2019 research and analysis.
With 150 million drivers, India has only 8000 electric cars
India had an estimated 650 charging stations for cars and SUVs in 2018, according to BNEF. China, the largest market for EVs, has about 456,000 charging points, official data shows.India’s sparse charging infrastructure stems from locals’ chicken-and-egg approach to the issue.
Axis Capital drops bid to cover Adani’s Australian coal mine project
“The Adani Group’s giant Carmichael coal mine is incompatible with international climate targets and AXIS is the 15th insurer and 58th financial institution to rule out support for this project,” said Peter Bosshard, coordinator of the Unfriend Coal campaign.
Tokio Marine to buy US insurer Pure Group for $3.1bn
At a press conference on Thursday, Satoru Komiya, Tokio Marine’s chief executive, said Pure had little overlap with its existing business in the US, where it has already spent more than $15bn including its $7.5bn deal for Texas-based HCC Insurance Holdings in 2015 and the $4.6bn acquisition of Philadelphia Consolidated in 2008.
Cyber-related business interruption now a top concern of risk managers
“The cyber insurance marketplace is expanding and maturing to meet the increasing demands of corporations concerned about the ever-evolving cyber risks,” said Paul Horgan, head of U.S. Commercial Insurance.