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Here is a masonry blog layout with no sidebarGlobal Coronavirus deaths hit 9,00,000 as cases surge in India
Swiss Re sees positive outlook for renewals, further market hardening expected
Overall, Swiss Re expects the non-life insurance market to continue to grow, driven primarily by exposure growth. Swiss Re Institute forecasts a global growth rate of 3.3% in real terms for 2021. Other factors driving demand are the awareness, triggered by COVID-19, of the danger of being uninsured and the increasing frequency of weather-related events.
Swiss Re is making use of advanced technology to lead the way in underwriting. This includes enriching client exposure information with geospatial data to improve both the accuracy and speed of risk and loss assessments. In contracts, natural language processing complements human contract reviews, which helps to flag favourable vs potentially problematic clauses and generate new wording insights
GIC Re incurs losses of Rs 557 cr in Q1 FY2020-21, sees higher underwriting losses and lower investment income
Global scenario for insurance industry for the FY 2020-21 has shown weak trends due to COVID-19 situation. GIC Re although has maintained its prominent position in Indian insurance sector, there has been reduction in business for the Q1 2020-21 partially due to strategic reduction of risk acceptance and partially due to reduction of overall direct premium in India, said the corporation..
GIC Re however expects to see rebound in business during the rest of the year. GIC Re’s gross premium for foreign business has shown a growth for the 1st Quarter 2020-21, added the corporation…
India records highest Coronavirus deaths in more than a month
India’s hiring outlook bleakest in 15 yrs; only 3% firms planning to hire
The strongest hiring pace is recorded in the small-sized organisations followed by the medium-sized and large-sized firms. From a region perspective, north and east regions indicate a more positive outlook compared to the west and south, the survey said.
“Post the ‘right sizing’ exercise aligning themselves to the current market demands, organisations are now looking at improving productivity, new forms of employee engagement, getting furloughed employees back and implementation of technology,” said Sandeep Gulati, Group Managing Director of ManpowerGroup India.
India scaling up production of active pharmaceutical ingredients: Kant
Professor K Vijay Raghavan, Principal Scientific Advisor to the Government of India, said personalised medicines are the future in healthcare. Personalised medicine was till recently seen as a “fancy way of having individual-oriented medication” but today in India — due to the dramatic scaling up of telemedicine and a variety of tele-consulting ways — one is going to see personalised medicine at the grassroot-level in a population of more than a billion.
Max Life Insurance launches COVID-19 1-yr term rider with diagnosis and death benefit
QBE Hong Kong offers new mental health support coverage for individual PA products
The mental health support coverage is a new feature and it will help to subsidise consultations with professional psychologists for those suffering from mental wellbeing concerns brought on by enforced Work-From-Home (WFH) arrangements during COVID-19.
“In the near future, we are looking at creating new products to address mental wellness which will better protect our customers and their families,” said Lei Yu, CEO North Asia and Regional Distribution Head.
Telemedicine market in India to reach USD 5.5 billion by 2025: EY-IPA study
“As the COVID-19 pandemic throws unprecedented challenges, consumer behaviour and patterns are changing dramatically. With the new norms of ‘social distancing’, traditional ways of in-person doctor-patient interaction are being digitally enabled by remote consultations,” Indian Pharmaceutical Alliance (IPA) Secretary-General Sudarshan Jain said.
General insurance business in India to contract by 9% in 2020 due to COVID-19, says GlobalData
As per the latest data, India’s general insurance market is expected to register a compound annual growth rate (CAGR) of 4.7% over 2019-2024, as compared to the pre-COVID forecast of 11.9%, primarily due to the ongoing economic uncertainty and the imposition of country-wide lockdown restrictions.Pratyusha Mekala, Insurance Analyst at GlobalData, comments:
Customers buying high-value products through credit card EMIs at all-time high:HDFC Bank
Cabinet discusses labour reforms, to push remaining 3 Codes in Monsoon session
Mumbai International Airport airport rolls out contactless check-in system for passengers
“With the focus on passenger convenience, the new contactless technology has been developed in response to the rapidly changing passenger requirements due to the COVID-19 pandemic. We are working on enhancing passenger experience through the adoption of newer technologies that can be easily adapted by all,” said MIAL Chief Executive Officer Rajeev Jain.
Don’t stop us paying dividends, European insurers tell regulators
Chedid Capital and Ascoma Gr join forces, to create a leader in broking in ME and Africa
British entertainment, left in dark, seekss government insurance help
Wildfires rage in California, stoked by extreme heat in U.S. West
Japan offeres Mauritius ‘Unprecedented’ support, including financial
The MV Wakashio, owned by Japan’s Nagashiki Shipping, began spilling oil on Aug. 6, prompting the Mauritian government to announce a state environmental emergency. The full impact of the spill is still unfolding, scientists have said.
Japan Foreign Minister Toshimitsu Motegi said Japan’s support measures include helping introduce a maritime navigation safety system in Mauritius, providing fishing gear to small fishing operators, and promoting Mauritius’s trade and tourism.