Category:

Technology

Mobile app-based payments rise 163% to $287 billion in 2019: Report

The report said UPI processed nearly 11 billion transactions in 2019 and based on a monthly rate of USD 31 billion in February, UPI payments are already clocking more than USD 373 billion in annualised payment value in 2020.

It added that Google Pay and PhonePe-led UPI payment apps handled over 7 billion transactions in total, representing more than two-thirds of UPI transactions in 2019.

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HDFC ERGO launches first-ever on-demand ‘Pay As You Fly’ insurance for drones

“Today, drones are becoming more and more popular in events and other outdoor commercial activities, which require skilled professionals to operate them. But, mistakes in operating and equipment failure may cause damage to third parties. Considering this we are launching this cover under our aviation insurance, which is a first in the industry, to safeguard drone owners and pilots from any third-party liability while flying a drone commercially.”Ritesh Kumar, MD & CEO, HDFC ERGO General Insurance Company

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Eelectric Cars:Emerging risks and claims scenarios for manufacturers,suppliers and insurers

“From supply chain networks to production processes to the product itself – the automotive industry will have to respond to many emerging risks to make the transition to electric vehicles happen,” says Daphne Ricken, Senior Underwriter Liability at AGCS. “The anticipated growth of electric cars brings the prospect of new defect or performance issues; more expensive repair costs; new fire and cyber threats; and even reputational issues around sustainable sourcing and disposal of critical components and raw materials for batteries.”

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