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India’s COVID-19 caseload reaches 82.67 lakh, recoveries surge to 76,03,121
A total of 76,03,121 people have recuperated from the infection so far, pushing the national recovery rate to 91.96 per cent, while the case fatality rate stands at 1.49 per cent.
The number of active cases remained below six lakh for the fifth consecutive day.
There are 5,41,405 active cases in the country as on date which comprise 6.55 per cent of the total caseload, the data stated.
CCI approves merger of Bharti AXA General Insurance into ICICI Lombard General insurance
The merger of Bharti Axa General Insurance with ICICI Lombard General Insurance, India’s largest non-life company had got formalised in an all-stock deal, valued at €521 million(approximately Rs 4,200 crore).AXA, with 49 per cent of stake and Bharti, with 51 per cent of stake, to combine their non-life operations in India into ICICI Lombard, in exchange of shares
HDFC ERGO implements AI enabled solution to automate motor claims
Parthanil Ghosh, president – Motor Business HDFC ERGO General Insurance said, ” We have implemented the use of AI in one of the most complex process of claim settlement post exhaustive testing and by leveraging the best-in-class technology. At present almost 75% of our physical inspections are assisted through IDEAS tool and have already processed more than 20,000 motor claims with promising accuracy levels. We look to further revolutionize the way claims will be settled in the insurance sector and very soon move towards instant claim settlements for customers, turning their satisfaction into delight.”
India’s October factory growth at decade high as demand bounces back
“Companies were convinced that the resurgence in sales will be sustained in coming months, as indicated by a strong upturn in input buying amid restocking efforts.”
Both output and new orders, which tracks overall demand, grew at their sharpest rates in more than 12 years and foreign demand expanded at its quickest pace since December 2014.
But firms cut staff for the seventh month in a row, a streak not witnessed since the survey began in 2005, signaling a quick recovery in the consumer-driven economy may be a distant possibility.
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