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21-day lockdown Care Ratings predicts Rs 7.2 lakh crore impact on economy

“Assuming 80 per cent production is lost, and 20 per cent of the economy (that constitutes the essential services and farming) still functions, Rs 35-40000 crore of GDP will be lost every day. Of the 21 days lockout, 14 days spill over to FY21, therefore potential total loss will be in the region of Rs 6.3-7.2 lakh crore assuming 18 working days will be split across the two years,” says the report.

Willis Towers Watson develops new feature for tracking pandemic cases against P&C clients’ global assets

“Asia is at a more advanced phase of the COVID-19 pandemic. After months of managing the outbreak and impact of the coronavirus here, there are encouraging indications that some countries in the region are controlling the spread of the virus, whilst others are showing signs that they are commencing the recovery process. This presents an opportunity for organisations to track the receding virus in these geographies and commence planning for the resumption of business operations as soon as it is practical. The new COVID-19 feature in the tool will be beneficial in assisting our clients and facilitate this process,” added Vince Mossfield, Liability Practice Head, Risk & Analytics Asia, Willis Towers Watson.

Ageas is first UK insurer to use AI to create end-to-end car damage assessments and estimates

Adrien Cohen, co-founder at Tractable, said: “Ageas using Tractable’s AI to generate end-to-end estimates is a breakthrough for the insurance sector worldwide. By harnessing AI at the beginning of the claims process to assess damage and generate estimates, we accelerate every part of it, creating efficiencies for the insurer and greater clarity for the policy holder. With this partnership with Ageas, computer vision is today making a positive difference for people in the real world, by helping them recover from accidents faster.

Caronavirus Pandemic:India’s total no of cases rise to 562,death toll at 11

Meanwhile,Pune-based Mylab Discovery Solutions is the first Indian company to receive commercial approval for its novel coronavirus, or COVID-19, testing kits.The testing kit has been approved by the Indian FDA/Central Drugs Standard Control Organisation (CDSCO), the molecular diagnostics company said in a release.

One unit of the Mylab PathoDetect COVID-19 Qualitative PCR kit can test 1oo patients. The company said it can manufacture 1 lakh test kits a week, but can ramp up production if required.

Govt bans export of anti-malarial drug hydroxycloroquine

the country has also banned exports of all types of ventilators, including any artificial respiratory apparatus or oxygen therapy apparatus or any other breathing appliance or device.Last week, it had banned export of certain ventilators, surgical and disposable masks and textile raw material used for making masks.​​​​​​​There is a shortage of hand sanitisers and face masks in the market amid the coronavirus outbreak as people resorted to panic buying.