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MoF to meet CMDs of three PSU general insurance cos on Apr 18, to discuss merger roadmap

A committee consisting of Atul Sahai, general manger, Oriental Insurance Comoany,,John Pulinthanam. general manager & director, National Insurance Company, K. Govindrajan, general manager & director, United India Insurance., has already submitted a detailed report to the MoF suggesting the ways and means for the merger of three insurers..Another proposal to appoint a consultant to provide guidance on the merger is waiting for the approval of the GIPSA, the official association of four PSU general insurers.

97% normal monsoon expected for 2018, says IMD

Releasing its first forecast for 2018, the Met department said that rains would be 97 per cent of the Long Period Average (LPA), with a model error of plus or minus 5 per cent. Probability of normal to excess rains is 56% and that of below normal and deficit rain is 44% 

Rapid tech advances outpacing risk management:MARSH/RIMS

“Emerging technologies like AI, blockchain, and IoT are fast becoming the new normal, yet risk management is not keeping up,” said Brian Elowe, chief client officer, North America, Marsh. “Only by asking questions and understanding the underlying technologies and their uses throughout the organization can risk professionals truly appreciate their risks and respond accordingly.”

Chatbots can change the customer service business

From the enterprise point of view, chatbots are relatively much cheaper than mobile apps, and are adaptable for various messaging platforms. Today, the cost-effectiveness of customer service is measured in terms of the ability to reduce the number of customer calls and average handling time, while in case of chatbots, the additional cost of handling more conversations and higher handling time is negligible.