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Innovation is key for achieving Insurance for all by 2047 : LIC Chief
Siddharth Mohanty, chairman, Life Insurance Corporation In the age of high competition for the business in the industry, Mohanty, however,emphasised that insurance companies also need to prioritize purpose before profit and should focus on social consciousness rather...
Miller appoints Shaun Sinniah as Head of Reinsurance and Capital
Miller, the leading independent specialist (re)insurance broker today announce the appointment of Shaun Sinniah as Head of Reinsurance and Capital, as the firm builds out its reinsurance offering and international presence. Shaun will be based in London.Shaun was...
ACKO appoints Mallesh Bommanahal as Chief Data Scientist
ACKO has announced the appointment of Dr Mallesh Bommanahal as a chief data scientist. An expert in the world of artificial intelligence, Mallesh has 16 years exposure in the insurance and healthcare industries. He is also the founder of i3systems.ai, widely known for...
France sees collapse in births to lowest since World War Two
The most common reasons people gave for not having more children were concerns about the economic, social and climatic outlook, cited by 30% of those polled. Some 28% said raising children cost too much PARIS: France saw the lowest number of births since World War Two...
Insurance cover under Ayushman Bharat health insurance scheme likely to be doubled
The increase in coverage to Rs 10 lakh per family per year and increase in beneficiary base to 100 crore individuals will involve an additional allocation of Rs 12,076 crore per annum.The AB PMJAY crossed the milestone of generating 30 crore Ayushman cards on January...
Google’s new AI chatbot to converse with patients, make diagnosis like docs
"We trained and evaluated Articulate Medical Intelligence Explorer(AMIE) along many dimensions that reflect quality in real-world clinical consultations from the perspective of both clinicians and patients," Alan Karthikesalingam and Vivek Natarajan, Research Leads,...
China’s population drops for 2nd year, raises long-term growth concerns
The National Bureau of Statistics said the total number of people in China dropped by 2.75 million to 1.409 billion in 2023, a faster decline than in 2022, which was the first since 1961 during the Great Famine of the Mao Zedong era Beijing: China's population fell...
Climate change may claim 14.5 mn lives by 2050: WEF
Flooding alone is estimated to cause 8.5 million deaths by 2050, posing "the highest acute risk of climate-induced mortality", according to the study. Droughts, as the second leading cause of climate-related mortality, are forecast to claim 3.2 million lives. Heat...
Insurers seek to exclude US, UK Ships From Red Sea Coverage
“Underwriters are adding clauses saying no US, UK or Israeli involvement,” he said. “Just about everybody is putting something like that in, and many include the words ‘ownership’ or ‘interest’” War risk rates have gone into a frenzy in recent days following the US...
The cost of war-risk insurance for vessels sailing through the Red Sea is spiraling, adding a further potential impediment to trade passing through a waterway already labeled too dangerous for merchant shipping by the US Navy. Underwriters are now charging between...
ICICI Lombard General Insurance net rises 22.4% to Rs 431 cr in Q3
The insurer's combined ratio, an important profitability metric for an insurance firm's underwriting business, improved to 103.6 per cent from 104.4 per cent a year ago Mumbai: ICICI Lombard General Insurance, the country's second largest general insurer, on Tuesday...
India’s insurance sector to be fastest growing among G-20, may scale $450 bn of prm in next decade: Swiss Re
Swiss Re officials(L to R) Mahesh H Puttaiah, Head Group Economics & Sigma Research, Hadi Riachi, Market Head (India),Vineet Kumar, Head Cat Perils (APAC) at a press conference in Mumbai to release reinsurer's report ``India's Economy & Insurance Outlook...
Japan revokes certification for 3 models of Daihatsu after safety scandal
The discovery in early 2023 that a half dozen models might be affected by manipulated test results ballooned into a full-blown scandal last month, when Daihatsu revealed that an internal probe found 174 irregularities across 64 cars dating back as far as 1989 Tokyo:...
Red Sea war insurance rises with more ships in firing line
Insurance industry sources said that war risk premiums had risen to around 1% of the value of a ship, from around 0.7% last week with various discounts applied by underwriters. They added that rates were expected to move higher War risk insurance premiums for...
India’s CEOs see inflation, cyber risks as top threats in next 12 months: PwC Report
Health risks rank highly on the list of concerns faced by CEOs in India, with 27 per cent indicating that they anticipate their companies to be extremely and highly exposed to these over the next 12 months, the report noted New Delhi: India's CEOs have flagged...
Problem of cybercrime troubling everyone, policing system needs to be reformed: HC
The high court, which listed the matter for further hearing on January 30, asked the Delhi government standing counsel, Santosh Kumar Tripathi, and lawyer Arun Panwar, appearing for Delhi Police, to take instructions on having a simple digital facility for people to...
Red Sea crisis: Exporters holding consignments as shipping costs rise
Around 80 per cent of India's merchandise trade with Europe passes through the Red Sea and substantial trade with the US also takes this route. Both these geographies account for 34 per cent of the country's total exports New Delhi: Indian exporters are holding their...
Medi Assist IPO subscribed 1.20 times on second day of offer
The category for Retail Individual Investors (RIIs) received 1.70 times subscription while the quota for non-institutional investors got subscribed 1.61 times. The portion for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent New Delhi: The Initial...