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Indian
General insurance industry’s premium grows 15% to Rs 20,457 cr in June
Twenty multiline private sector general insurers, led by ICICI...
Sensex, Nifty end at new record closing highs on unabated foreign fund inflows
"Foreign investors continue to provide unwavering support to the...
Google accuses India antitrust body of protecting Amazon in Android probe
In the CCI's October order, which also fined Google $163 million,...
Data Protection Bill gets Cabinet Nod; to be tabled during Parliament monsoon session
"In case of disputes, the Data Protection Board will decide....
International
Swiss Re’s Pulse technology platform to be deployed by Mitsui Sumitomo group to manage global insurance programme
The PULSE platform, which was launched in 2019, will help MSIG...
COVID-19 vaccine booster dose effective in reducing severe outcomes: Lancet
A third dose of COVID-19 vaccine is effective in reducing severe...
Travelers Risk Index: Cyber ranks as the top business concern
Security breaches, system glitches and unauthorized access to bank accounts are the top three cyber-specific business concerns.
The percentage of respondents who said their company suffered a security breach where someone hacked into a system increased nearly 40% compared to 2020, to almost half (46%).
Security breaches, system glitches and unauthorized access to bank accounts are the top three cyber-specific business concerns.
Automakers are about to shake up the auto insurance industry
The Connected Auto Insurance Global Study reveals that many insurers now write over 50% of new business to connected auto insurance.
Dr Andrew Jackson, Research Director, said: “When car usage collapsed during the COVID-19 lockdowns, policyholders demanded prices based on actual mileage. OEMs have been stepping in to the gap, and in a clear statement of intent, half of all OEM in-house UBI programmes use connected car data only, removing insurers and Telematics Service Providers (TSPs) from the equation.”
At least 17 OEMs are selling connected car services with dynamically-priced insurance already available from Ford, GM, Kia, Hyundai, Mercedes-Benz, Stellantis, Tesla, Toyota and Volkswagen. Many car manufacturers have also forged insurance partnerships (i.e. Ford with Arity, GM with American Family, Ford with Octo Telematics, PSA with AXA, Daimler with SwissRE).
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