In this issue

In this issue we have covered articles on - Do the Social Media influencers create disturbance in the minds of users, in context of Insurance? - Prof Pratik Priyadarshi & Naina Garg; The Evolution of Wellness-Linked Insurance Underwriting in India - Rohit Boda; Boeing: Is it Really about Supply Chain? - Praveen Gupta; How Fuel Cells are shaping the Indian Automobile Industry by Spearheading Green Energy Solutions towards eradicating the risk of scarcity of petro products in Hydrogen based vehicles - Dr. Jay Pandey, Tinku Sharma & Rajat Mehrotra; SS Armistan: Bill of Lading, Agreement, Libel or an Estopple? - Historical Maritime Fraud - Dr. Soumi Mukherjee; Union Budget's emphasis on digital transformation in Life Insurance sector and how it impacts on common policy holders - Neeraj Kaushik; Tele MANAS- A Comprehensive Mental Health Care Service in India: An opportunity for Health Insurance Sector - Saloni Sinha & Sakshi Khotani.
We have covered news on General Insurance, IRDAI News, LIC News, Health Insurance News, Private Life Insurance News and International News.

Besides it covers other interesting features.

Health Plans: Is It Wise To Opt For Monthly Payments?

Insurers have started promoting monthly and quarterly premium payment modes in an effort to make health plans affordable for all.

2 mins

Health Insurance

Health insurance claim assistance platform ClaimBuddy has raised a $5 million investment, marking the successful closure of its Series A funding.

4 mins

Tele MANAS-A Comprehensive Mental Health Care Service in India: An opportunity for Health Insurance Sector

Dr. Brock Chisholm, the inaugural Director-General of the World Health Organization WHO), made a foresighted statement, in 1954, that true physical health can only exist in the absence of mental health\". After more than 60 years, not much has changed in the situation. There have probably been mental health problems throughout human history, and it can be difficult to identify a single setting that gave rise to these worries.

10 mins

Union Budget's emphasis on digital transformation in Life Insurance sector and how it impacts on common policy holders

\"The digital revolution sweeping through various industries has now firmly set its sights on insurance, and the life insurance sector in India is no exception.

2 mins

SS Armistan: Bill of Lading, Agreement, Libel or an Estopple?

\"A bill of lading BL or BoL) is a legal document issued by a carrier transportation company) to a shipper that details the type, quantity, and destination of the goods being carried. A bill of lading also serves as a Shipment receipt when the carrier delivers the goods at a redetermined destination. This document must accompany the shipped products, no matter the form of transportation, and must be signed by an authorized representative from the carrier, shipper, and receiver.\"

9 mins

How Fuel Cells are shaping the Indian Automobile Industry by Spearheading Green Energy Solutions towards eradicating the risk of scarcity of petro products in Hydrogen based vehicles

Fuel cell technology emerges as a promising solution, offering a cleaner and more efficient energy alternative.

6 mins

Boeing: Is it Really about Supply Chain?

\"The current woes at Boeing tend to get Iumped under the heading of supply chain’. There are compelling reasons as to why they do. However, there are also good reasons as some astute observers point out as to why three signals which highlight later in this article) should not get buried under the mountain of supply chain noise.\"

7 mins

The Evolution of Wellness-Linked Insurance Underwriting in India

Amidst the ever-shifting terrain of insurance underwriting, India is witnessing a transformative evolution, particularly in the sphere of health and wellness. Departing from traditional methods reliant on age, gender, and medical history, insurers are embracing innovative approaches that intertwine wellness with underwriting.

2 mins

Do the Social Media influencers create disturbance in the minds of users, in context of Insurance?

Did you know that according to a survey 72% of young adults rely on social media influencers for financial advice, including insurance?

8 mins

Insurance Caselaws

Reliance Nippon Life Insurance Co. Ltd. vs Gharohari Devi

5 mins

Legal Update

All consumer courts to hear cases online from 15 April

2 mins

New Product Launches

Bajaj Allianz General Insurance Unveils Privé A One-of-a-Kind Program that Provides Unparalleled Coverage and Service Excellence

5 mins

Interview: Johnson Varughese Chief Executive Officer WALAA Insurance Company Al-Khobar, Kingdom of Saudi Arabia

\"Establishment of the IA will accelerate the growth of the Insurance Sector as the Industry will now get focused attention. The strategy of IA is likely to be aligned with Vision 2030 and Financial Sector Development plan. Since savings is one of the pillars of Vision 2030, I hope to see a lot of emphasis on Protection and Savings Insurance Products.\"

5 mins

IRDAI Corner

Investments in Infrastructure Debt Funds - NBFC

4 mins

2023 was a watershed year for insurance sector, but there's more to come

Innovation in regulatory framework, promotion of ease of doing business while enhancing protection of policyholders’ interests and measures taken to expand the reach of insurance penetration make 2023 a year to remember in the insurance industry.

4 mins

The Future of Insurance: ESG as a Cornerstone of Sustainable Underwriting

As climate change, social inequality, and governance issues become increasingly prominent, insurers are recognizing the need to integrate Environmental, Social, and Governance ESG) factors into their underwriting processes. This shift not only aligns with global efforts to address pressing issues but also positions the insurance industry as a key player in promoting sustainability and a fraternity who is concerned about their ESG goals.

4 mins

Cancer Insurance - An Indispensible cover

Recent advances in cancer treatment have opened new treatment options, such as targeted therapy and immunotherapy, for people diagnosed with advanced-stage disease. However, these advanced treatments are costly and remain out of reach of many.

9 mins

Emerging Horizons: New Opportunities in Commercial General Insurance Segment

The Indian economy continues to be a beacon of growth and opportunity, attracting both domestic and foreign investments across various sectors. The country's economic reforms and ease of doing business initiatives have further improved the investment climate, fostering entrepreneurial spirit and innovation.

4 mins

Interview: Dr Tarun Agarwal Director National Insurance Academy, Pune

\"National Insurance Academy is undoubtedly the most renowned institution not just in India, but internationally. We are an apex institution in the field of education, training, research and consultancy in insurance, pension and allied areas.\"

6 mins

Historical Maritime Fraud

M.V B-Atlantic - War Risk Cover: An Insurer’s Dilemma or Fraud!!

10+ mins

Navigating the natural conundrum: Why Reinsurers continue to maintain positive outlook for non life Insurance market in asia pacific region in 2024 & beyond despite challenges posed by natural hazards

The Asia-Pacific region has long been susceptible to a range of natural hazards, including earthquakes, typhoons, floods, and tsunamis. These events pose significant challenges to the insurance industry, particularly the non-life insurance sector, which covers property, casualty, and other general insurance lines.

4 mins

Trust with Law

Khaitan Legal Associates' website succinctly proclaims, \"We are a value-driven law firm.

5 mins

The Impact of Geopolitical Uncertainties on Marine Insurance

Marine insurance offers financial security against perils such as natural disasters, piracy, collisions, and theft, among others. By providing compensation for the loss or damage of goods, it helps facilitate smooth and efficient trade by minimizing financial risks and ensuring the continuity of supply chains.

4 mins

War exclusion and its implication on cyber attack claims

War being a catastrophic event of unimaginable scale is generally kept as an exclusion in every property and casualty policy.

8 mins

The Holistic approach towards Enterprise Risk Management (ERM)

ERM looks at each business unit as a \"portfolio\" within the firm and tries to understand how risks to individual business units interact and overlap. It is also able to identify potential risk factors that are unseen by any individual unit. The Government ambitious plan of PM GatiSakti is the fine example of how ERM is being followed on principle.

7 mins

Risk Management and Insurance - The Future career scope

The risk management occupation, and especially the RM&I industry, ensure persons and businesses' economic success by effectively & efficiently managing their risks. All sections of this industry are seeking talented people to fill the channels. The reason, this career take advantage of talents, offers variety, flexibility, above average growth prospects

3 mins

Usage-Based or Telematics Car Insurance in India

\"Whether car or motor insurance, telematics is often referred to as usage-based insurance. With the introduction of telematics solutions, the insurance industry in India is going to witness a transformation in motor insurance. Our endeavor is to improve customer service & give customers the flexibility to choose their insurance premium based on their driving behaviour using telematics.\"

1 min

Measure to prevent Insurance Fraud

Insurance companies have been impacted by fraudulent activities, suffering financial losses as a result. Most industry experts believe that fraud exists anywhere between 10-15% and they are being discovered across lines of business

4 mins

How life insurers can leverage digital field underwriting

Traditionally, Insurance Agents were used for data collection, prospect's profiling, and insurability before the formal underwriting process began. Insurance Agents would walk in door to door to compile necessary information about the prospects profile like their Income, Health, Occupation, House Ownership, Cars etc

2 mins

Crop Insurance - A journey witnessed

Crop Insurance is based on statistical tools, administration machinery down to the grass root level, technology, satellite imagery services, insurance intellect and many other highly specialized expertise being used in crop insurance in the country making it more effective and the largest crop scheme in the world in terms of farmers enrolment, having millions of applications every year and amongst the top 3 in terms of premium received

7 mins

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THE INSURANCE TIMES Magazine Description:

The Insurance Times, which will be completing glorious 42nd year of successful and regular publication in 2022, is the most authentic information source on insurance in India.

The Insurance Industry under the new regulatory setup is moving forward aggressively.
Every month, the journal covers informative articles and features on both general insurance and life insurance. Besides regular columns for Insurance Regulators, Brokers, Bancassurance, legal, surveyor, agents, students etc; it brings you the latest and updated news of the Indian as well as overseas insurance industry.

Regular features on risk management and safety also keep you abreast of the latest risk management techniques. 

We regularly review the policies issued by life and non-life companies including comparisons of various products.

A special emphasis is given on marketing of insurance both life and general. This journal is a must for all persons connected with insurance companies, corporate bodies, brokers, banks, surveyors, agents, consultants, students, educational institutions and professionals.