Ron Whyte, Head of Miller Asia, said: “APAC is a central pillar of...
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India can avert 4.6 mn deaths by 2040 with better hypertension control: WHO
Uncontrolled hypertension is known to cause heart attack, stroke...
New India to integrate with ONDC soon, targets digital footprint increase by 10 to 15% annually: Kapur
Neerja Kapur, CMD, New India Assurance ``The insurer is taking lot...
Tesla rolls out insurance in California
Chief Executive Elon Musk has been one of the strongest proponents of the idea that car insurance rates should plummet as driver-assist and self-driving technology become standard. Tesla said rates of its new plan were as much as 20% lower than those of rivals but did not provide comparisons.
More favorable pricing permeates global reinsurance industry, but is it sustainable
Third-party capital continues to proliferate as investor interest has increased alongside more varied reinsurance structures, and has become more closely aligned with traditional reinsurance capital. Despite the capital markets’ increased influence, dedicated reinsurance capacity essentially remained flat in 2018, at $436 billion, with a single-digit percentage increase in convergence capital to $95 billion from $87 billion in 2017.
Allianz Australian unit to refund customers for insurance mis-selling
ASIC said Allianz incorrectly sold insurance cover to people ineligible to claim for unemployment or disability, and death cover to customers under 21 years of age who were unlikely to need it.
D Srivastava to head GIC Re, M Poddar selected as AIC CMD
Similarly, the governmemt has filled up two posts of managing directors at Life Insurance Corporation by appointing Mukesh Gupta, executive director, LIC and Raj Kumar, CEO, LIC Mututual Fund to these posts.
Germany’s Allianz grows in Brazil with $734 million deal
The deal represents Allianz’ largest investment ever in Brazil, the insurer said. “Insurance in Brazil is expected to grow more than the GDP over the next years, as insurance penetration is very low,” said Eduard Folch, chief executive of Allianz’ Brazilian unit, in a phone interview
IRDA begins pilot projects to boost auto insurance
Last year, the life insurance segment has grown by 11 per cent, general insurance segment has grown by 12 per cent and health segment has grown by 20 per cent, while standalone health insurers have grown by 37 per cent
Early claims and crash tests suggest risks of luxury, SUV electric vehicles
In serious crashes, electric autos’ high-voltage power plants automatically shut down, AXA noted, but damaged batteries can catch fire up to 48 hours after a crash, making it more difficult to deal with the aftermath of an accident.
Unlocking value for P&C insurers : Advanced analytics may present a crucial way
-Insurers can grow, optimise existing portfolios and become more efficient using advanced analytics that combine data science, extensive risk knowledge and industry expertise
-In particular, commercial lines can catch up with personal lines, which currently use analytics more extensively, through exploiting the rapid explosion in the number and breadth of structured and unstructured data sources
-Insurers can target at least a 2-5% improvement in loss ratios under real trading conditions with use of advanced analytics
Interviews on Aug 27 to select chiefs of GIC Re, AIC and MDs of LIC
The senior official of the state owned general insurance companies who have been shortlisted for the interview are – M Poddar, general manager(GM), National Insurance Company, Dinesh R Waghela, GM, Oriental Insurance Company,SN Rajeswari, GM, New India Assurance, DTV Sashtri, GM, United India Company,Deepak Prasad, GM, GIC Re , Anil Shristav, GM, OIC, Devesh Shristav, GM, GIC Re, M and Bullaswami, GM, NIA.
Among the senior officials, who have been called for the interview for selecting two MDs of LIC are, MK Gupta ED, Personnel. Raj Kumar CEO, LIC Mtual Fund , HS Sasikumar, ZM,Bhopal, S Nallakuttalam.
7 global trends making engineering & construction projects bigger & costlier than ever
Analysis by Allianz Global Corporate & Specialty (AGCS) of more than 13,000 engineering insurance claims over the last five years has identified seven major trends in engineering and construction projects, driving some of the largest losses ever, according to a new report by the insurer. The report also examines how new technologies, such as drones, satellites, lasers, and computer modeling, are increasingly being used to speed up claims and mitigate risks