Tulsi Naidu, chief executive officer for Asia Pacific There are...
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India Inc’s Risk Index: Demonstrating Resilience
Cyber-attack or data breach is considered to be one of the most...
TRAI directs telecom companies to enhance apps and portals to curb spam messages
“Also, essential details for the registration of complaints should...
AXA XL launches Digital Risk Engineer, a connected solution to monitor “buildings and assets”
Available globally, Digital Risk Engineer uses Internet of Things (IoT) devices installed in the clients’ buildings to capture information from connected systems such as energy, water (including sprinklers), heating, ventilation and air conditioning (HVAC).
Jonathan Salter, recently announced Head of Risk Consulting at AXA XL said“This fully digital offering is especially relevant today as we grapple, as a society, with the impacts of COVID-19, and the likelihood that companies will try to limit in-person site visits where possible.”
China to tighten supervision of country’s booming online insurance business
The rules will also require Internet companies to obtain insurance licenses before involving in the business, according to the draft.”The fast development in the online insurance sector has exposed certain problems,” the CBIRC said, “The rules are to effectively defuse the risks and protect the interest of consumers.”
About 50% term policy buyers opt cover of Rs 1 cr or more during Apr-Aug: Policybazaar
“For the age group 42-50, we witnessed the highest year-on-year increase in term insurance buying i.e. 77 per cent and for year 2020 the age group 31-35 holds the largest share in terms of policies bought i.e. 30 per cent,” the firm said basis its data.
It further said in the High Net Individual (HNI) segment, more than 80 per cent customers went for the cover of Rs 1 crore and above, out of which 25 per cent invested in the cover bracket of Rs 2 to Rs 5 crore.
Many life insurers need a new core system:Celent & Equisoft Report
Celent’s APAC insurance technology expert, Max Ang said, “The insurer of tomorrow will be a technology-focused enterprise, augmenting current experiences with digital tools and automation, and with collaborations with partners for success. The next-generation insurer will serve, and customers will engage, based on the evolving needs required.”
Lloyd’s of London alerts India Inc on rising “Intangible Risks”, launches new solutions for Pandemic Risks
Specific to SMEs, Lloyd’s has developed ReStart, a potential non-damage business interruption solution (loss of revenue without a physical damage trigger) for future waves of COVID-19. The solution is focused on giving certainty of non-damage business interruption coverage initially to SMEs by pooling limited capacity across a number of Lloyd’s market participants. The product will support reopening of SMEs, offering a range of limits that ensure it is affordable for customers, without requiring any government support,
Lloyd’s is also working on a proposed ‘after the event’ insurance product framework, Recover Re, which would provide immediate relief and cover for non-damage business interruption, including the current COVID-19 pandemic, over the long-term. This framework could be implemented in any country where the government has the resources and industry commitment to support it.
PSBs on-board 10 mn account holders on digital payment modes in a month
Under the campaign, banks were asked to on-board a minimum 100 new customers including merchants and financial inclusion account holders by each branch on digital payment mode.
New York retains rank as Top Global Financial Hub, London Gains in Volatile Index
New York leads the FinTech rankings, followed by Beijing, Shanghai, London, and Shenzhen. Five of the top ten centres for FinTech are Chinese.
The instrumental factors used in the GFCI model have been grouped into five broad areas of competitiveness: Business Environment, Human Capital, Infrastructure, Financial SectorDevelopment, and Reputation.
Global climate goals ‘virtually impossible’ without carbon capture – IEA
Up to $160 billion needs to be invested in the technology by 2030, a ten-fold increase from the previous decade, it added.
“Without it, our energy and climate goals will become virtually impossible to reach,” the IEA head Fatih Birol said in a statement.
Microsoft develops ‘virtual commute’ for remote workers amid Covid-19
Pandemic-related burnout and difficulty separating work and personal life has become a surprisingly common concern among Microsoft’s corporate customers, according to Chief Marketing Officer Chris Capossela. “The thing we didn’t predict that we’ve learned is now at the top of customers’ mind is really the well-being of their employees,” he said.
Companies initially worried about employees having the right technology to work from home. “Now it’s getting to be much more about ‘hey how do I know if an employee is burned out, how do I know how they are doing — if they are working too hard?’ All of the things around the emotional well-being or the mental health of employees has risen to the top faster in a way that we didn’t really predict,” he added.
Shift towards digital banking is going to be permanent: SBI Chairman
“Progressively, we are seeing that there has been a shift away from branches and even from ATMs. The number of transactions on ATMs have come down from 55 to 29 per 100. On the other hand, the digital transactions, which are on mobile and internet banking, have gone to 55 out of 100 transactions,” said State Bank of India Chairman Rajnish Kumar