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Here is a masonry blog layout with no sidebarSystemic leakages of Rs 10 000 cr annually in insurance sector eroding trust: Report
To address this, the report outlined a three-pillar framework of prevention, detection, and deterrence, underpinned by the enablers of standardisation, technology, and data interoperability NEW DELHI: Systemic leakages due to fraud, waste, and abuse (FWA) of...
8 officials selected for Insurance Ombudsmen
Those who have been selected by a government appointed panel are- Mukhmeet Singh for New Delhi, Rajiv Talwar for Noida, Rachna Khare, Pune, Pranai Prabhakar, for Ahmedabad, Sanjai Singh, for Lucknow, Manju Bagga, for Kolkata, Rashmi Ranjan Singh for Bhubaneswar,...
Banks must simplify tech to protect customers, says Kotak Mahindra Bank’s data protection chief
With the rise of AI-enabled scams and digital impersonation, he warned that banks face an increasingly complex threat landscape. Criminals no longer rely solely on direct financial theft; instead, they exploit sensitive data to pose as legitimate institutions. New...
Women in Insurance India (WIIN) launches India’s first industry-focused accelerator program to advance equity, innovation & leadership
Speaking about the launch, Soni Srivastava, Co-founder, Women in Insurance India, said, “The insurance sector has always been a story of resilience. Yet, as women reach mid-career, their presence fades from view. The WIIN Accelerator is building the space to nurture...
Belgian farmer sues French energy giant for damage caused by climate change
Worldwide, environmental groups and individual citizens have brought nearly 100 cases against major oil producers including BP, Exxon Mobil and Shell in the last two decades. A 2023 report by the United Nations Environment Program found that the number of lawsuits had...
Lloyd’s investigates its former CEO John Neal
John Neal,former chief executive officer,Lloyd's Lloyd’s Chairman Charles Roxburgh “became aware of market speculation concerning possible historic breaches of policy” and initiated an independent fact-finding review into Neal’s conduct in October, the firm said in a...
Reliance stops Russian oil use at its only-for-export refinery to comply with EU sanctions
The European Union - a big market for Reliance - has imposed wide-ranging sanctions targeting Russia's energy revenues, including measures that restrict the import and sale of fuels produced from Russian crude oil New Delhi: Reliance Industries Ltd on Thursday said it...
Trade unions demand tax incentives on social security contributions and minimum pension hike
They also demanded to stop privatisation of LIC and GIC through different moves like LIC-IPO and withdraw the Bill allowing 100 per cent FDI in the insurance sector, which is detrimental to the larger interest of the common people and the nation New Delhi: Workers'...
Agentic AI can improve detection of finance-related crimes, sector currently detects only 2% of it: McKinsey
The report highlighted that agentic AI, an evolution of analytical AI, could significantly improve automation and productivity across the client life cycle and help banks tackle long-standing KYC/AML (know-your-customer and anti-money-laundering) challenges. New...
Customers want both Gen AI efficiency and human empathy, finds new Geneva Association report
While people welcome Gen AI’s convenience and possibilities for personalisation, they remain concerned about data privacy, accuracy, and maintaining access to human support. ZURICH: Generative AI (Gen AI) is transforming how insurance customers interact with their...
Top 26 e-commerce platforms claim they are free of dark patterns that deceive consumers
The Guidelines for Prevention and Regulation of Dark Patterns, 2023, which were notified on November 30, 2023, identify and prohibit 13 dark patterns.These are -- False Urgency; Basket Sneaking; Confirm Shaming; Forced Action; Subscription Trap; Interface...
India among 7 countries expected to add over 500 million city residents between 2025 and 2050: UN
Despite the global shift towards city life, towns remain (in 2025) the most common settlement type in 71 countries. Countries in all regions and at diverse levels of economic development are found within this group, including Germany, India, Uganda and the United...
GIC Re pays Rs 1,445 crore of dividend to govt in FY24-25
(L to R) - V. Balkrishna, CFO, GIC Re, Parshant Kumar Goyal, joint secretary, Department of Financial Services, Finance Minister Nirmala Sitharaman, Hitesh Joshi, executive director, additional charge of CMD, GIC Re , Jayashri B, executive director, GIC Re, at the...
Govt hikes fitness test fee for over 20-year-old motor vehicles
The Ministry of Road Transport & Highways (MoRTH), in a latest notification issued on November 11, has said the higher fee slabs now begin from 10 years for commercial vehicles instead of 15 years, bringing more vehicles under the updated cost brackets. New...
Cyber attacks,Economic Slow down,Business Interruption ranked as top Indian business risks: Aon
“As cyber attacks and data privacy risks continue to rise, both in frequency and impact, Indian organisations must not only strengthen their resilience but adapt quickly to these accelerated challenges'' Rishi Mehra, CEO of India, for Aon Mumbai: Indian firms ranked...
TRAI orders mandatory adoption of 1600-series numbers by banks and insurance firms
The matter of mandating last date for adoption of 1600 series by the entities in the insurance sector is under discussion with IRDAI, and will be notified subsequently, the official statement said. The structured and time-bound adoption of the 1600-series is expected...
AI driving direct shifts in global insurance industry, says Swiss Re
Global insurance premiums are set to grow by 2.3% in real terms in 2026 and 2027. The non-life sector is forecast to see global real premium growth easing to 1.7% before recovering to 2.5% in 2027. For insurers, it means more opportunities in engineering, property and...
Red Sea Crisis: Google and Meta delay undersea cable projects
The southern Red Sea segment of 2Africa hasn’t yet been built due to a “range of operational factors, regulatory concerns, and geopolitical risk,” said a spokesperson for Meta, which leads a consortium of telecom companies developing the cable. Multiple subsea...