Wearable Tech and Insurance: Transforming Personalized Insurance Solutions

The popularity of wearable tech has skyrocketed as people increasingly prioritize their health and well-being. These devices allow users to monitor their daily activities, such as steps taken, calories burned, heart rate, and sleep patterns. They provide valuable insights into fitness progress, enabling individuals to set goals and track their performance.

Environment, Social and Governance challenges of the Insurance industry in the Post Pandemic Environment

Managing ESG risks is becoming increasingly important for companies as stakeholders, including investors and customers, become more focused on sustainability and corporate responsibility. Companies that effectively manage ESG risks are better able to protect their reputation and financial performance in the long term

An Important Tool to Detect Integrity Violations in Government Health Insurance Programmes

Government health insurance schemes operate on cashless and paperless models. In a cashless model the entitled beneficiary gets treatment free in empaneled hospital and patient has not to pay for treatment cost

International Conference on 'Reimagining Paradigm Shift in Bangladesh Insurance Industry - Bridging the Protection Gap.8th May, 2023, Dhaka

Organised by Birla Institute of Management Technology (BIMTECH) with Bangladesh Insurance Association (BIA) Media Partner: The Insurance Times, India

The Talent Gap in Insurance Industry

About 65% of respondents said that they believe a Talent gap is affecting their organization as per the survey conducted by Wiley Education Services. Being unable to find employees with necessary Talent is costing companies with serious drain of money

Interview with Shri Satyajit Tripathy, Chairman & Managing Director, United India Insurance Co Ltd

\"We are looking forward to an exciting 2023-2024. It will be very interesting to see how the market responds to the changes introduced by the Regulator. We are quite charged up and intend to stay focused on our Tag line \"Service is the Gateway to Growth.\"

IRDAI Corner

IRDAI Information and Cyber Security Guidelines, 24th Apr, 2023.

"An Awareness Program to increase Insurance Penetration in Eastern Zone of India"

The Institution of Engineers (India), West Bengal State Centre, Kolkata on 14th April, 2023

FICCI 22nd Annual Insurance Conference 12th April, 2023, Mumbai

Outreach Partner: The Insurance Times

Basic Elements of law of probability or law of large numbers insurance

The theory of probability (also known as probability theory or theoretical probability) is a statistical method used to predict the likelihood of a future outcome. This method is used by insurance companies as a basis for crafting a policy or arriving at a premium rate.

Electric Vehicle Insurance in India - A New Mileage

The Indian electric vehicle market is expected to reach US$47 billion by 2026. The Indian government is encouraging the use of electric vehicles through policies and incentives. India aims to increase electric vehicle sales by 30% by 2030 and has introduced several incentive programmes, including one for local battery manufacturing.

Emergence of Digital Transformation in Indian Insurance Market & Associated Safe-guards needed

Fueled by FinTech investments and Insurtech startups, Indian insurance now become a hothouse of digital innovation. In response, insurers started embracing various changes and rethinking on their business models to move towards a compliant, secure and digitally-enabled operating model to enhance customer, employee, partner and other stakeholder experiences.

Scaling Cattle Insurance through Digital Solutions

The tattooing, hot/cold branding and brass ear tagging methods are obsolete. Affixing Polyurethane ear tag and injectable RFID requires skilled professionals and don't complement scale in a foolproof manner. Moreover, lack of tamper-proof, scalable, unique digital identity for bovines is one of the significant reasons for moral hazard, resulting in a higher loss ratio for livestock insurers.

Will the upcoming Bima Sugam portal be a disruptor?

India's insurance market is valued at USD 131 billion as of now. It is also expanding at a CAGR of 17 per cent. The current trends indicate that digital penetration in India is growing and it is contributing to growth and innovation in the insurance sector. It would not be incorrect to expect that Insurtech will play a significant role in the future development of the domestic insurance sector.

To stay sustainable: the insurance industry needs an urgent paradigm shift!

The current performance metric has outlived its utility - the way risks manifest, impact, get measured, priced, reported, regulated - all changes. With these threats come some of the biggest business opportunities.

loT Deciphered

This technology can be used in the insurance industry to improve risk assessment, claims processing, and preventive measures. For example, loT devices such as smart home systems and wearable technology can gather data on a person's behavior and environment, which can be used to assess their risk of accidents or illnesses.

Interview of Shri S. N. Satpathy, Secretary General, Insurance Institute of India

\"III works with practically all the public and private sector insurers and reinsurers as well as all the intermediaries to build internal academic and professional competencies for them. We do this both within and outside the country.\"

Insurers and Regulator Collaborate on Sustainable Anti-money Laundring Strategy

Business Continuity Management is inextricably linked to the Risk Management - one is the consequence of the other. Where Business continuity Management (including Planning and Testing) comes into force is through impact.

IBEX India 2023 BFSI tech trends for collaborative banking -

The year 2023 is an opportunity to predict what's in store for the future of banking. The cost of living crisis will cause banks to revamp their digital banking offerings.

Event Cancellation Insurance Policies

Insurance companies in India are covering major events like international cricket against the uncertainties of terror attacks and the vagaries of weather. Event cancellation insurance policy helps protect interest of organizers, broadcasters and sponsors of various event/ functions.

"Technology-aided value adds have become an integral part of the reinsurance business.Let it be Rule Engine, Underwriting Manual, Predictive models in pricing or embedded products, all of it is playing an important role in the expansion of the reinsurance market."

About Rohit Rohit A. Boda joined the J.B.Boda Group in 2011 and is currently the Group Managing Director. He is a service focused broker who believes in utilizing opportunities from risks through strategic investment and visionary thinking.

Father of Life Insurance

Elizur Wright, a 19th century American who started his career as a mathematician is widely considered to be the father of life insurance.

Emergence of Parametric Insurance

The event, or parameter,\" is often indicated by an established and authoritative index for that type of event, such as the Richter scale for earthquake intensity or the Saffir-Simpson scale for hurricanes or Knot i.e., nautical mile per hour for storm.

Business Continuity and Disaster Management

Business Continuity Management is inextricably linked to the Risk Management - one is the consequence of the other. Where Business continuity Management (including Planning and Testing) comes into force is through impact.

Epigenetic Application to the Insurance Industry

The epigenome tells brain cells to behave as brain cells and not liver cells. In addition, the various epigenome, when exposed to stressors, can suppress the genes ability to fully express itself. For example, there are genes that will prevent the uncontrollable cell division that causes cancer.

The future of Auto insurance is usage and behaviour based

Collision warning systems can detect collisions, and if a significant incident occurs, an SMS will be sent to the emergency contacts listed on the insurance company's helpline alerting them of the position of the car and the number of persons inside at the moment of the collision.

Budget 2023 Challenges Ahead!

Finance Minister Nirmala Sitharaman presented the budget on 1st February 2023.

COSO'S ENTERPRISE RISK MANAGEMENT FRAMEWORK

The Committee of Sponsoring Organisations of the Treadway Commission (COSO) was established in the mid-1980s, initially to sponsor research into the causes of fraudulent financial reporting. Its current mission is to: 'help organizations improve performance by developing thought leadership that enhances internal control, risk management, governance and fraud deterrence.'

PUBLIC OFFERINGS OF SECURITIES INSURANCE [POSI)

Indian Stock Exchanges (BSE, NSE, SMEs) ranked 12th in the world in terms of the number of IPOs in YTD 2021.

INSURANCE & REINSURANCE OF NUCLEAR POWER PLANTS

India has a largely indigenous nuclear power programme.