Commenting on the launch of Syndicate 2454 in South Africa, Mikir...
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Heavy rainfall unleashes deadly floods across Southeast Asia
Total number of confirmed dead in Vietnam is now 91.Flooding in...
Blackstone owned Ace Insurance Brokers make 3 sr level appointments
Blackstone owned Ace Insurance Brokers has made three senior level...
US cyber insurance sees sharp prm spike,Profit improvement to moderate: Fitch
Moderating claims frequency drove underwriting performance improvement, with lower ransomware incident costs and a higher proportion of incidents without payment However, this may be temporary, given the rapid pace of technological and economic change, such that...
Indian general insurance prm to cross Rs 3 trillion by FY 2025, says ICRA
Neha Parikh, vice president and sector head – Financial Sector Ratings, ICRA, says: “ICRA expects the GDPI to expand by a healthy 13-15% to Rs. 2.73-2.78 trillion by FY2024 and further by 12-14% to Rs. 3.06-3.17 trillion by FY2025. Driven by the improving distribution...
Roots Automation Introduces InsurGPT -an advanced generative AI model for insurance
InsurGPT utilizes a deep corpus of insurance specific data and documents alongside systems and process knowledge to significantly improve the accuracy, speed, and validity of data extraction and inferencing, while reducing false-positives, ‘hallucinations,’ that...
Mass event will let hackers test limits of AI technology
Anyone who’s tried ChatGPT, Microsoft’s Bing chatbot or Google’s Bard will have quickly learned that they have a tendency to fabricate information and confidently present it as fact. These systems, built on what’s known as large language models, also emulate the...
UN agencies brace for disaster as Cyclone Mocha intensifies in Bay of Bengal
Extreme weather hazards will occur more frequently due to climate change in the years ahead, IOM warned ““The linkages between climate change, migration, and displacement are increasingly pressing worldwide,” the agency said, calling on governments to implement...
Go Airlines got premium refund for grounded aircrafts
The airlines’ total fleet size is 54 aircraft, out of which 27 have been grounded for more than a year, said Kaushik Khona, Chief Executive Officer, Go Airlines “Last year, we got a refund of the premium paid for covering the aircraft hull. The refund was about 70 per...
Supply chain risks spur demand-bulge for business interruption coverage: WTW Survey
“From multiple geopolitical tensions to ongoing inflationary pressures, global uncertainty is adding complexity to businesses just as they are recovering from the supply chain crisis. They will now be in catch-up mode against a disruptive environment, facing...
Aon launches dedicated unit to drive climate analytics and advisory into multiple sectors
More than 400 natural catastrophes caused $313 billion of damage worldwide in 2022 As climate change drives new extreme weather records, organizations need to better quantify the impact of climate risk. Aon's Climate Risk Advisory to help clients meet their reporting...
Chola MS records profit before tax of Rs 264 crores in Fy23
V. Suryanarayanan, managing director, Chola MS, said, In FY 2023-24, Chola MS will continue to grow ahead of industry to step up on its present market share of 2.87% amongst multi line players.'' Chennai: Cholamandalam MS General Insurance Company Ltd (Chola MS), a...
Govt amends power policy draft to halt new coal-fired capacity: Reports
India, whose proposed coal power capacity is the highest after China, had repeatedly refused to set a timeline to phase out coal, citing low per-capita emissions, surging renewable energy capacity and demand for inexpensive fuel sources India and China account for...