Indemnity Insurance – Investing News Wire http://investingnewswire.club/ Fri, 01 Jul 2022 10:47:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://investingnewswire.club/wp-content/uploads/2021/05/default1.png Indemnity Insurance – Investing News Wire http://investingnewswire.club/ 32 32 industry-wide drivers and successes https://investingnewswire.club/industry-wide-drivers-and-successes/ Fri, 01 Jul 2022 10:47:53 +0000 https://investingnewswire.club/industry-wide-drivers-and-successes/ Data science, alongside AI, has been a key disruptor in many industries. Heather Dawe, UK Data Manager at UST UK Data Practice, explains how data science and artificial intelligence (AI) are driving digital transformation success across industries The pandemic accelerated a phenomenon that was already happening across the industry: digital transformation. Lockdowns and similar changes […]]]>


Data science, alongside AI, has been a key disruptor in many industries.

Heather Dawe, UK Data Manager at UST UK Data Practice, explains how data science and artificial intelligence (AI) are driving digital transformation success across industries

The pandemic accelerated a phenomenon that was already happening across the industry: digital transformation. Lockdowns and similar changes in our behaviors have led to a massive increase in demand for online services and that demand is now unlikely to return to pre-pandemic levels.

In reaction to this, businesses of all shapes and sizes are striving to make their existing business models increasingly automated and digital-first in order to avoid disruption. They are also scrambling, changing the way they work by using data and technology to improve their products and services, stay competitive and create new markets.

The effective use of data is at the heart of a successful digital transformation. The personalization of online services is a key example of how data is used to generate AI that achieves this. Such initiatives often strive to put the user or customer in greater control, responding to them by anticipating their needs and then customizing the service to them. The data is used to train machine learning models that underpin an AI service. AI predicts user needs and configures the service based on those needs.

The desire to accelerate digital transformation programs is a major contributor to the increased demand for data scientists and data science skills within the industry. In 2019, the Royal Society reported a demand tripled over five years. Subsequent year-over-year increases in demand have been at least 30%.

Data science and AI in all industrial sectors

So what are all these data scientists doing and where are they doing it? At UST, I work with clients from various industry sectors. They typically fall under retail, asset management, banking and financial services and insurance (BFSI), manufacturing, and automotive.

One of the fascinating things about this from a data perspective is the variation in which these industries have so far adopted and used advanced analytics and AI. Asset managers, for example, typically use quite different forms of analysis and machine learning models than retailers.

There are also similarities between sectors. Customer personalization is a common requirement and analytical model in a number of industries, including retail, insurance, and banking. Supply chain optimization has significant applications in retail, manufacturing, and the automotive industry.

AI in Asset Management

From our perspective, asset management is among our most advanced spaces for using analytics, machine learning, and AI. Additionally, they are increasingly successful in implementing analytics and AI services – processes that have been recognized by Gartner as difficult to achieve.

Asset management as a discipline has long used data and analysis to inform investment strategies. As data scientists within these companies become increasingly adept at programming languages ​​such as Python and R; sophisticated in the data science methodologies they employ; and ambitious about the data they use to develop and test strategies, this trend is set to continue.

Detail

Unsurprisingly, the retail sector is relatively advanced when it comes to the use of machine learning and AI. Data-driven customer loyalty and reward services were introduced in the early 2000s, and since then, largely due to increasing competition, data innovation for customer personalization, among other business cases. use, has been important.

Although the world of retail can be complex, we see significant growth opportunities where advanced analytics and AI in supply chain management can be implemented, along with omnichannel infrastructure .

Banking and financial services

Innovation in banking and financial services is largely driven by online financial technologies and open banking.

Given their growth nature – from startups to more established SMEs and beyond, challenger banks have the advantage of data-driven approaches from the start. Unlike large incumbent retail banks, they do not have legacy systems or years of technical debt. Challenger institutions quickly realized the benefits of innovating with data and AI.

Open banking has brought with it greater opportunities for innovation in the use of banking data. This includes developing new products and services, delivered as apps directly to mobile devices.

As a result, incumbent banks are under pressure to evolve, adapt to meet the demands of customers who expect information and services that are immediately accessible 24/7. Large retail banks are innovating more than ever with their data.

Insurance

Retail insurers still face the same pressures to evolve in the market as retail banking. But this does not mean that these requirements are not present. For example, the growth of the gig economy is forcing small business insurers to provide weekly, daily, or even hourly liability coverage beyond the current standard annual premiums offered by large insurance companies. These incumbent insurers have legacy systems and technical debt similar to those of large banks, and as a result they react more slowly to changing customer needs and expectations.

New products and services in the field of insurance are usually developed by startups and SMEs. These often require the deployment of predictive analytics as the costs of insurance products and services are underpinned by the relative risk they carry. Like challenger banks, insurance startups and SMEs are less burdened with technical debt than their larger competitors, reducing time to market.

Recognizing this trend, large incumbent insurers are addressing the innovation challenge in the same way as large banks: through the acquisition and development of data-driven products and services.

Staying Competitive Requires Harnessing AI

Before the pandemic, data science and the associated development of AI-enabled services were likely near the bottom of the hype curve. These are complex subjects, difficult to size and to make profitable. While the complexity remains, recent years have seen a growing maturity within companies to be able to produce and leverage AI to their business advantage. In my view, we are just the tip of the iceberg – the pandemic has dramatically accelerated the pace of development, and there are many more digital transformation programs poised to deliver streamlined and improved services. Chief Experience Officers (CXOs) across industries have realized there is no turning back, investing in data strategies and related data development to enable them to stay competitive against to their peers, as well as to develop new digital products and services.

Written by Heather DaweUK data manager at UST UK data practice

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EU insurance ban targets Russian oil exports https://investingnewswire.club/eu-insurance-ban-targets-russian-oil-exports/ Wed, 29 Jun 2022 03:22:32 +0000 https://investingnewswire.club/eu-insurance-ban-targets-russian-oil-exports/ With almost all war and environmental catastrophe insurance policies for tankers taken out by European and British insurers, a planned European ban on insuring Russian oil cargoes could curb exports from Moscow – Copyright AFP/File Angelos Tzortzinis Emeline BURCKEL with Thomas URBAIN in New York An EU ban on insuring ships carrying Russian oil could […]]]>

With almost all war and environmental catastrophe insurance policies for tankers taken out by European and British insurers, a planned European ban on insuring Russian oil cargoes could curb exports from Moscow – Copyright AFP/File Angelos Tzortzinis

Emeline BURCKEL with Thomas URBAIN in New York

An EU ban on insuring ships carrying Russian oil could potentially hurt Moscow more than its domestic crude embargo, analysts say.

The European Union recently unveiled the insurance ban in a sixth round of economic sanctions aimed at punishing Russia for its invasion of Ukraine.

In another blow, G7 leaders are seeking to cap Russian oil prices to further hurt Kremlin revenues.

The EU insurance and reinsurance ban, covering all Russian oil shipping, comes as Moscow seeks to increase sales to China and India to help offset the embargo.

– “Further than the embargo” –

Banning insurance “would have bigger consequences for the oil market than the EU oil embargo”, noted Commerzbank analyst Carsten Fritsch.

Companies will no longer be allowed to transport oil from Russia by sea or to insure such shipments.

Insurers in the EU have until the end of this year to implement the ban, while those in Britain are expected to follow suit.

“There’s going to be an impact and there’s going to be an impact on prices,” said Marcus Baker, international marine manager at US brokerage Marsh.

A similar ban was used in 2012 when the EU barred European insurers and reinsurers from covering ships carrying Iranian oil.

The bloc had also imposed an embargo on the purchase of Iranian crude as part of sanctions against Tehran’s controversial nuclear program.

Commercial vessel operators need insurance for the vessel, its cargo and for protection and indemnity (P&I) covering events such as war and environmental damage.

Mathieu Berrurier, managing director of maritime insurance broker Eyssautier-Verlingue, told AFP that large sums of money were needed for potential payouts caused by such disasters.

This translates into insurers forming P&I clubs that “are able to offer guarantees equal to the risks involved” during events such as a “major oil spill or a ‘collision with an ocean liner,'” Berrurier said.

“Colossal sums are needed,” he said, adding that such disasters can potentially cost “billions of dollars.”

Former Russian President Dmitry Medvedev, who is the deputy head of the country’s Security Council, hinted that Moscow could circumvent the ban by providing state guarantees to cover oil exports.

This could allow Russia to self-insure and circumvent EU sanctions, he insisted.

“That’s true to some extent,” said analyst Livia Gallarati of consultancy Energy Aspects.

But with up to 95% of the P&I insurance market handled by EU and UK-based insurers, experts say, it will be difficult for Russia to completely circumvent the ban.

“The market is so tightly intertwined in Europe (that it) is going to be almost impossible” to escape the impact of the ban, an oil transport official told AFP on condition of anonymity.

“There is not a very mature and deep alternative insurance market there,” noted the executive.

– India “helps Russia” –

It emerged late last week that India had stepped in to offer certification services to some tankers carrying Russian crude.

That shone a spotlight on this week’s G7 summit, which focused on more coordinated financial action against Russia.

“India is helping Russia continue to sell its oil despite Western sanctions,” said Commerzbank analyst Fritsch.

He added that India has provided safety certification for more than 80 vessels belonging to a Dubai-based subsidiary of Russian shipping company Sovcomflot.

The G7 leaders, meeting in Germany on Monday and Tuesday, condemned Russia’s invasion of Ukraine as “illegal and unjustifiable”.

“We reaffirm our condemnation of Russia’s illegal and unjustifiable war of aggression against Ukraine,” they said in their draft final statement.

The statement was released after the G7 held talks with Indian Prime Minister Narendra Modi, as well as the leaders of Argentina, Indonesia, Senegal, South Africa and Ukraine.

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One in five home births transferred to hospital after onset of labor – report https://investingnewswire.club/one-in-five-home-births-transferred-to-hospital-after-onset-of-labor-report/ Mon, 27 Jun 2022 01:30:00 +0000 https://investingnewswire.club/one-in-five-home-births-transferred-to-hospital-after-onset-of-labor-report/ More than one in five women in Ireland who opt for a home birth are transferred to hospital after labor begins, according to new figures. he main reason for going to the maternity ward is for pain relief. The figures, which relate to home births in Ireland from 2018 to 2020, will be revealed in […]]]>

More than one in five women in Ireland who opt for a home birth are transferred to hospital after labor begins, according to new figures.

he main reason for going to the maternity ward is for pain relief.

The figures, which relate to home births in Ireland from 2018 to 2020, will be revealed in the HSE’s next triennial report on planned home births in Ireland.

Over the period 2018 to 2020, 848 women registered with the HSE for a home birth.

Of these women, 221 had their cases transferred to a maternity ward during the prenatal period due to pregnancy complications.

Of the 627 who started working from home, 22% were taken to a maternity ward, mainly due to the woman’s request for pain relief. Nearly 500 women – 489 – gave birth at home during these years.

The figures, from Eileen Ruddin of HSE Acute Operations, were provided to Labor TD Duncan Smith.

It comes as the home birth service in the Midwest has been temporarily suspended following the death of first mother Laura Liston in Limerick on June 5. The home birth service remains in place in the rest of the country.

A number of women in the Midwest region are carrying out home births after registering at maternity hospitals outside Limerick.

They are told Limerick University Maternity Hospital will continue to provide care when needed.

The HSE provides a home birth service to eligible pregnant women who can choose an independent community midwife. The community midwife is compensated and remunerated by the HSE.

A care pathway is established and the midwife must be convinced that the woman is a suitable candidate for a home birth.

All midwives complete mandatory education and training requirements, meet with their HSE managers twice a year and participate in a peer review and reflection process.

Midwives pointed out that before 37 weeks gestation, directions to the pregnant woman’s home are entered into the national ambulance database for easy access if needed during labor and delivery.

The midwife closely monitors the woman during labor in a home birth and if there is cause for concern, she can discuss transfer to hospital for delivery.

If this happens, the midwife goes to the hospital with the woman and receives appropriate support in the hospital setting.

Community midwives are covered by clinical indemnity insurance by the National Claims Agency as part of their contract with the HSE to provide care for low-risk women.

Meanwhile, water births remain disrupted following a number of incidents.

Health Minister Stephen Donnelly said the pause on water births would remain in place pending the outcome of investigations into the incidents.

The outcome is being finalized and reviewed at national HSE level to determine any learning and “address any recommendations made in a structured way”.

Mr Donnelly said there are plans to appoint a national level expert leader, with the aim of designing and implementing a national water birth training program for midwives.

There are also plans to establish a national set of key performance indicators and metrics around water births.

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Yellowstone flooding leaves farmers and ranchers in heavily affected areas uncertain https://investingnewswire.club/yellowstone-flooding-leaves-farmers-and-ranchers-in-heavily-affected-areas-uncertain/ Fri, 24 Jun 2022 18:15:37 +0000 https://investingnewswire.club/yellowstone-flooding-leaves-farmers-and-ranchers-in-heavily-affected-areas-uncertain/ By Eric Young Click here for updates on this story CARBON COUNTY, Montana (Billings Gazette) — Recent flooding along the Yellowstone River has left major questions for Montana’s largest industry. The loss of equipment and livestock in addition to rising diesel, fertilizer and seed prices has placed Carbon County farmers and ranchers in more difficult […]]]>

By Eric Young

Click here for updates on this story

CARBON COUNTY, Montana (Billings Gazette) — Recent flooding along the Yellowstone River has left major questions for Montana’s largest industry.

The loss of equipment and livestock in addition to rising diesel, fertilizer and seed prices has placed Carbon County farmers and ranchers in more difficult circumstances than usual as they look to the months ahead. .

Rancher Scott Fleur owns land next to the entrance gate to the Orchard Canal outside of Bridger. The front gate burst in the flood last week and caused extensive damage to his property and the canal.

The inflow of water stopped just short of his store and house, but agricultural infrastructure including a private bridge over the canal, silos, a truck and a sedan were destroyed due to damage. His alfalfa crops were not excessively damaged, but were exposed to silt and brush from the river, rendering them unable to harvest.

Fleur also raises chickens and cattle. Most of the chickens drowned during his coup when water spilled out while the lost bridge prevented him from reaching his livestock.

“We were okay with the river flooding,” Fleur said. “We weren’t prepared for this.”

Concrete blocks brought in by helicopter were dropped to block water flowing into the irrigation system and a makeshift irrigator was installed to help control the flow of water. Without such actions, water would flow unregulated into the ditch, threatening to overflow or destroy the integrity of the canal.

Fleur and others along the Clarks Fork of the Yellowstone River Valley agreed that the main concern now was any further flooding before the head gate could be repaired. They fear further damage ahead of a potential drought could jeopardize water supplies for 400 people and 11,000 acres in the valley.

“We have to control this channel,” said Fromberg Rancher Jay Stetson. “If we don’t reinforce this, the water will go through what is already destroyed and destroy even more.”

Elsewhere in Carbon County, farmers and ranchers reported the loss of corrals, feedlots and horse paddocks due to flooding, along with some farms still partially submerged in water.

Looking ahead to the resumption of crops and livestock after the floods, there are still options available for those who may not have flood insurance.

The United States Department of Agriculture and the Montana Farm Services Agency offer disaster and emergency programs for insured and uninsured farmers, including the Uninsured Farm Disaster Assistance Program, the compensation scheme, the emergency loan scheme and the emergency conservation scheme.

These can provide farmers and ranchers with financial relief from events like last week’s floods through compensation for lost crops and equipment. Failing areas must be reported to the FSA within 15 days of the crop failure, but in some cases people may not be able to assess this type of damage for days after the flood.

“In areas where the water moved slowly and just covered the ground for a few days, you might not know if that crop was destroyed until several days after the water disappeared,” explained FSA state executive director Les Rispens. “Once it’s clear the acres have failed due to flooding, you have 15 days to file a notice of loss with the FSA.”

This means those affected by the floods should have time to file reports, but the real concern for farmers in the region is when exactly help will come.

Stetson said he and other farms and ranches in the area have already requested the available help.

“You’re looking at six to twelve months before any funds are actually received,” he said. “And don’t even get me started with SBA (Small Business Administration) loans.”

Despite this, the harvest season does not seem to be a total loss.

Carbon County MSU extension officer Nikki Bailey said crop damage was a concern along the river, but not necessarily for total yield percentage.

“It really depends on what part of the county the crops were in,” she said. This year.”

In Stetson’s case, 75 acres of his crops were under water at one point last week, but he said recent rain showers washed away silt from the river.

He admits recent events have added to other challenges, but added there is no reason to panic.

“There are people who worry about things like commodity prices months in advance,” Stetson said. “But we really won’t know until they sell out in the fall, so I’m not wasting my time with that.”

Note: This content is subject to a strict local market embargo. If you share the same market as the contributor of this article, you cannot use it on any platform.


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Cybersecurity insurance market worth $29.2 billion by 2027 https://investingnewswire.club/cybersecurity-insurance-market-worth-29-2-billion-by-2027/ Tue, 21 Jun 2022 15:00:00 +0000 https://investingnewswire.club/cybersecurity-insurance-market-worth-29-2-billion-by-2027/ CHICAGO , June 21, 2022 /PRNewswire/ — According to a research report “Cybersecurity insurance Market by Component (Solutions & Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber ​​Liability), Organization Size, End User (Technology & Insurance), and Region – Global Forecast to 2027″, released by MarketsandMarkets™, the Global Cybersecurity Insurance Market Size in the […]]]>

CHICAGO , June 21, 2022 /PRNewswire/ — According to a research report “Cybersecurity insurance Market by Component (Solutions & Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber ​​Liability), Organization Size, End User (Technology & Insurance), and Region – Global Forecast to 2027″, released by MarketsandMarkets™, the Global Cybersecurity Insurance Market Size in the Post-COVID-19 Scenario is expected to grow from $11.9 billion in 2022 at $29.2 billion by 2027, at a CAGR of 19.6% over the forecast period.

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By organization size, the small and medium business segment has the highest growth rate during the forecast period

SMBs are mainly adopting cybersecurity insurance solutions and services to protect against cyberattacks and due to increasing fraud cases. Insurance company Beazley revealed that 60% of ransomware attacks target SMBs. Emsisoft, an antivirus software company, said the companies paid a ransom of $1.3 billion to cyberattackers in 2019. SMBs are more vulnerable to cyberattacks because their servers are easier to access than large networks. SMBs are expected to spend more budgets on cybersecurity insurance in the coming years due to soaring cases of cybersecurity-induced attacks and increased mandatory legislation during the pandemic.

Asia Pacific is expected to witness the highest growth rate during the forecast period

Asia Pacific countries are very concerned about increasing security spending due to the ever-growing threat landscape. The region includes emerging economies, such as China, JapanANZ and Singapore. With effective government regulations and technological advancements, cybersecurity insurance is seeing strong growth opportunities in this region. Various developments are taking place in Asia Pacific, regarding the adoption of technologies such as BI tools, cloud, analytics and rapid infrastructure development. Rising regulatory developments, with increasing fines and penalties for non-compliance, are expected to meet cybersecurity insurance market demand in Asia Pacific in the future. Zurich Insurance said the cybersecurity insurance market is expected to grow significantly in Asia Pacific. AIG, Allianz, Chubb and Zürich are among the leading players in cybersecurity insurance in Asia Pacific.

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Market players

Technology providers covered by the cybersecurity insurance market report include BitSight (US), Prevalent (US), RedSeal (US), SecurityScorecard (US), Cyber ​​Indemnity Solutions (Australia), Cisco (US), UpGuard (US), Microsoft (US), Check Point (US), AttackIQ (US), SentinelOne (US), Broadcom (US ), Accenture (Ireland), Cylance (US), FireEye (US), CyberArk (US), CYE (Israel), SecurIT360 (US) and Founder Shield (US). Insurance vendors covered in the Cyber ​​Security Insurance market are Allianz (Germany)AIG (USA), Aon (UK), Arthur J. Gallagher & Co (United States), Travelers Insurance (United States), AXA XL (United States), AXIS Capital (Bermuda), Beazley (UK), Chubb (Swiss), CNA Financial (USA), Fairfax Financial (Canada), Liberty Mutual (USA), Lloyd’s of London (UK), Lockton (USA), Munich Re Group (Germany) and Sompo International (Bermuda). The startup vendors covered in the cybersecurity insurance market are At-Bay (US), Cybernance (US), CyberCube (US), Coalition (US), Arceo.ai (US) United), Kovrr (Israel), Sayata Laboratories (Israel), Zeguro (US), RiskSense (US), Cyence (US), SafeBreach (US) and Cronus Cyber ​​Technologies (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their footprint in the cybersecurity insurance market.

Browse adjacent markets: Information Security Market Research Reports & Advice

cyber security Market by Component (Software, Hardware, and Services), Software (IAM, Encryption, APT, Firewall), Security Type, Deployment Mode, Organization Size, Vertical, and Region (2022-2026)

Insurance analysis Market by Component (Tools & Services), Application (Claims Management, Risk Management, Customer Management & Personalization, Process Optimization), Deployment Mode, Organization Size, End User, and Region (2022-2026)

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If inflation continues, it will also start to impact savings products: CEO and CEO, HDFC Life https://investingnewswire.club/if-inflation-continues-it-will-also-start-to-impact-savings-products-ceo-and-ceo-hdfc-life/ Sun, 19 Jun 2022 22:46:06 +0000 https://investingnewswire.club/if-inflation-continues-it-will-also-start-to-impact-savings-products-ceo-and-ceo-hdfc-life/ Rising inflation has become a major concern in all countries as it eats away at people’s disposable income. Vibha Padalkar, MD and CEO, HDFC Life, told Sandeep Singh that if inflation continues, it will also start to hurt demand for savings products. Stating that premiums should stabilize now, she also called on the regulator to […]]]>

Rising inflation has become a major concern in all countries as it eats away at people’s disposable income. Vibha Padalkar, MD and CEO, HDFC Life, told Sandeep Singh that if inflation continues, it will also start to hurt demand for savings products. Stating that premiums should stabilize now, she also called on the regulator to allow life insurance companies to sell health claims as this will allow them to offer innovative solutions to customers. Edited excerpts:

How does inflation hurt industry and what is the impact of interest rates?

Inflation remains a big concern as it has a greater impact as it eats away at savings and reduces disposable income. As disposable income decreases, customers respond by opting for slightly less coverage or not covering all family members, etc. If you see the industry numbers, the impact is not significant at this time. While there has been some impact on duration, it’s not so much on savings. However, if inflation continues, it will also start to affect savings products.

As for the rise in interest rates, it is reasonably positive for us. Our transmission is faster and we can spend higher annuity rates. However, stock market volatility is a downside. I think among the other options for saving, insurance continues to do well. The quantum of saving itself decreases however.

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The industry has seen an increase in premiums. Do you see it stabilizing now?

Premiums have increased mainly for term policies and this increase is due to the pandemic. Even though there is a lot of talk around premium increases, I want to say that the increase in premiums over the last 10 years is less than inflation. Reinsurers have suffered huge losses due to the pandemic and if they increase the load, it is difficult not to increase it. I think it should stabilize now.

How have the Covid death claims been for you?

We settled claims amounting to over Rs 6,000 crore in FY22 but this has now subsided. We have settled almost 4 lakh of claims with gross claims of around Rs 6,000 crore and net claims of Rs 4,300 crore. As an industry, I would say that even though it was much higher, we paid so many claims without looking at the clause too much. I think money is important if it is timely. For almost all of our unanticipated claims (if the policy has completed 3 years) we have paid within 24 hours or 48 hours maximum.

Although these are savings plans, it took about 3 months for the term insurance policies as we need to check pre-existing etc. and physical checks must be carried out by a local investigator in the field.

Do life insurers get permission to sell sick pay?

We have asked the regulator to allow us to sell health allowances, but this has not yet been authorized. Our point is that health in the world is closer to life than to motor. However, for some reason general insurers in India sell health while life insurers are not allowed to sell it. It is not logical. We used to have the right to sell health, but that was taken away from us.

My limited argument is that life insurers have the most important touchpoints with their branches and network, but you’re not allowing us to sell. I think the focus should be on insurance penetration and expansion.

So far, nothing has changed. We even asked the regulator to authorize us to distribute, if you do not authorize us to manufacture. Today, banks can distribute insurance, but life insurers cannot distribute health. It does not mean anything.

We submitted it almost 18 months ago and the regulator said they would review it. I keep hope.

When you say innovations are possible, if you are allowed to, what could they be?

Innovation cannot occur if a key element is missing. For example: When someone is young, they need more life insurance. Supposing a person pays Rs 60,000 as a premium, I would say until the age of 55 (closer to retirement) we would give him maximum life cover. Afterwards, as he would also have built up savings, we will reduce the life cover and increase the health cover. However, for the individual, the premium of Rs 60,000 will remain constant.

As of now, we are not allowed to bundle various products and sell to the customer unless we partner with a single insurer. But even that is not homogeneous.

What are the areas of growth for life insurance?

Growth will come with product innovation. Pension products are another big growth area. As a nation, pension funds as a percentage of GDP are less than 5% compared to over 100% in the developed world. Although it is increasing, it is not at the desired rate.
People need to understand that the risk of an individual running out of money is very real due to increased longevity.

How will the merger of HDFC Bank and HDFC limited benefit you?

It can only improve significantly. The way I see it is that today HDFC Bank is my biggest distributor, but it’s not my parent company, so once that happens there will be a full alignment. HDFC Bank will become a financial conglomerate and not just a bank. It will have everything to do with all financial services products and will be the parent company of them all. They will be able to tell the client that they know them – if they have a mortgage but no insurance etc., so the advice will be better.

If customers consent to be served as one customer, they will be treated as one customer for all HDFC Group products.

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BRIDGE JUMP STUNT GETS THE GREEN LIGHT FROM THE MARATHON CITY COUNCIL https://investingnewswire.club/bridge-jump-stunt-gets-the-green-light-from-the-marathon-city-council/ Fri, 17 Jun 2022 03:17:38 +0000 https://investingnewswire.club/bridge-jump-stunt-gets-the-green-light-from-the-marathon-city-council/ Concerns about the structural integrity of the south side of the Boot Key Bridge dominated a discussion about the viability of a stunt jump over the open span of the bridge. ALEX RICKERT / Weekly Keys If his team can satisfy a long but reasonable to-do list, famed stuntman Travis Pastrana will return to Marathon […]]]>
Concerns about the structural integrity of the south side of the Boot Key Bridge dominated a discussion about the viability of a stunt jump over the open span of the bridge. ALEX RICKERT / Weekly Keys

If his team can satisfy a long but reasonable to-do list, famed stuntman Travis Pastrana will return to Marathon next month.

At its June 14 regular meeting, Marathon City Council gave conditional approval for an event permit that would send Pastrana over the open span of the Boot Key Harbor Bridge in a heavily customized car while a helicopter hovers in the space below.

The talking point was brought up by Mayor John Bartus after a request by Hoonigan Industries to perform the stunt in January was denied by city staff, citing liability issues and doubts about the state of the bridge.

With a presentation to the board highlighting the vast experience of Hoonigan’s crew and their safety record accomplishing similar feats, Hoonigan producer David Wells noted the stunt’s potential to provide increased global exposure for the city of Marathon.

“The Gymkhana series is the most-watched motorsport movie on the internet,” Wells said. “The latest film recently surpassed 50 million views since its 2020 release. … The real hero is the location and its community. … The film is a postcard of the city, a map that will be seen by millions of people.

Wells also offered a $30,000 donation from production company People First Media to be used by the city for youth programming.

While city attorney Steve Williams said he would personally like to see the one-off stunt performed, questions about Marathon’s ability to protect against risk kept him from officially recommending the filming. One of Williams’ main concerns was the possibility of rendering ships with deeper drafts unable to leave Boot Key Harbor if debris from a crumbling bridge blocked the western entrance to the harbor.

“The short version is, we asked (our insurance company) in anticipation of this meeting, ‘What would we need to get these people covered if they accidentally hit the bridge or something went wrong? ?'” Williams said. “Our insurance company wouldn’t even give us a number. Without proper insurance, my answer is 100% no, the city shouldn’t be doing this. »

Public Works and Engineering Manager Carlos Solis echoed Williams’ sentiments, adding that the bridge’s last FDOT inspection in 2008 found 100 percent loss in some columns.

“That was 14 years ago, so we have no idea what’s out there now,” Solis said. “My biggest concern, even if something doesn’t happen now, is that if you have an accident, is that going to further degrade this bridge? And then we end up with this bill because it’s been a year and a half and everyone’s long gone.

Claiming that the structural elements of the bridge responsible for absorbing the impact of the car landing are in good condition and that the stress of the 3,000-pound car is a tiny fraction of what the bridge was built to withstand , team engineer Eric Helt said the jump was very unlikely to cause significant damage.

“The dead load of the bridge itself, compared to the car, is peanuts,” he said. “We put 3,000 pounds, so you’re talking about 1% of the load. If that bridge is there now, adding 1% isn’t going to make or break that thing.

Although Hoonigan’s crew members said they expected a full partnership with FWC, Marathon Fire Rescue, the Monroe County Sheriff, and the U.S. Coast Guard to ensure safety throughout the process, several organizations told the council and Keys Weekly that they had not yet been contacted about the delay.

“I would definitely like that to happen, and I think the way we do that is to try to make sure our collective conditions are met,” Bartus said. “People putting this stuff on have an incredibly good reputation. … You hear it from a lot of people who are part of this business.

“I grew up with Evil Knievel and I love watching jumps. But I think we’d be fools not to listen to our city attorney and our city professional engineer,” Councilman Dan Zieg said.

With Zieg and Councilman Luis Gonzalez voting against the stunt, the council granted conditional approval for the jump, scheduled for July 11. In order to receive the green light, the production company must name the city on its $10 million insurance policy and provide the city with a written operational plan.

The production company must also coordinate with, have commitments, and pay necessary expenses for the services of Marathon Fire Rescue, FWC, Coast Guard, and MCSO personnel. He must enter into a written contract with Marathon Seawalls and Docks to be ready if debris falls into the channel after the jump. Before the stunt, the company will also pay for a five-ton load test on the landing side of the bridge to ensure its ability to absorb the car landing.

IN OTHER NEWS:

  • The board unanimously approved a $30,000 donation to Keys AHEC to support medical and dental care for vulnerable young Keys.
  • The council directed City Manager George Garrett and Chief Financial Officer Jennifer Johnson to enter negotiations with Key Colony Beach officials regarding the balance of the two cities’ contributions to fire relief and EMS expenses. Noting that the assessed values ​​of Marathon and KCB properties are roughly in a 4:1 ratio, but Key Colony’s contributions to fire and EMS expenses are less than that same ratio, Zieg said. that KCB Administrator David Turner was “very reasonable that Marathon subsidized KCB residents.
  • Code Director Ted Lozier informed council that the city has contracted with Deckard Technologies to help identify and possibly cite illegal vacation rentals in the city that are advertised online. The service should be operational at the end of June. Lozier also pointed out that the city’s new traffic sign ordinance passed in March has undergone state-level review and is now in effect.
  • The council voted unanimously to reject a settlement sent by the state Department of Economic Opportunity (DEO) regarding its February issuance of a Notice of Violation (NOV) to the city. The NOV was issued when the city issued building permits for limited units of a development known as the 39th Street “Boatworks Project” while other units of the same development were subject to approval. a call from the state. Garrett said city staff will travel to Tallahassee on Monday, June 20 to resolve remaining issues with the DEO surrounding the NOV. City staff will also work with the DEO to resolve lingering questions regarding the city’s new permits, Memorandum of Understanding (MOU) signed in May.
  • In the interest of reducing wait times for resident permits, council voted unanimously to pass an ordinance shortening the city’s permit application review period from 30 days to five. .
  • Council voted unanimously to pass an ordinance establishing a tow zone along both sides of Sombrero Beach Road from the beach to Spoonbill Drive, as well as a second zone along the golf course side of the boulevard. Sombrero.
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Mission Management Systems Market 2022 Overview, Analysis and Forecast to 2030 – Instant Interview https://investingnewswire.club/mission-management-systems-market-2022-overview-analysis-and-forecast-to-2030-instant-interview/ Sun, 12 Jun 2022 21:29:24 +0000 https://investingnewswire.club/mission-management-systems-market-2022-overview-analysis-and-forecast-to-2030-instant-interview/ 2022-2030 Mission Management Systems Industry Overview: This has brought about several changes, this report also covers the impact of COVID-19 on the global Mission Management Systems market. The Mission Management Systems Market analysis summary by Market Strides is an in-depth study of the current trends leading to this vertical trend in various regions. The […]]]>

2022-2030 Mission Management Systems Industry Overview:

This has brought about several changes, this report also covers the impact of COVID-19 on the global Mission Management Systems market.

The Mission Management Systems Market analysis summary by Market Strides is an in-depth study of the current trends leading to this vertical trend in various regions. The research summarizes important details related to market share, market size, applications, statistics and sales. In addition, this study emphasizes an in-depth competitive analysis on the market outlook, especially the growth strategies claimed by market experts.

Mission Management Systems Market competition by Top Manufacturers as Follows:
Bird Aerosystem, Dharma Magna, Piaggio Aero Industries, Aerocomputers, Honeywell International, Quinetiq Group, Neya Systems, Thales Group, Northrop Grumman, Curtiss-Wright, Saab Group, Lockheed Martin

Get a sample PDF copy of the report
Get a sample PDF copy of the report @ https://marketstrides.com/request-sample/mission-management-systems-market

The global mission management systems market has been segmented on the basis of technology, product type, application, distribution channel, end-user, and industry vertical, along with geography, providing valuable information.

The type coverage in the market is:
Air-Based, Navy-Based, Land-Based, Unmanned Systems-Based

Market Segment by Applications, covers:
Defense, Commercial

Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia-Pacific
Central and South America
Middle East and Africa

Mission Management Systems Market Scope:

ATTRIBUTES DETAILS
YEAR OF REFERENCE 2022
FORECAST YEAR 2022-2030
UNITY Value (million USD/billion)
SECTORS COVERED Types, applications, end users, etc.
REPORT COVER Total Revenue Forecast, Company Ranking & Market Share, Regional Competitive Landscape, Growth Factors, Emerging Trends, Business Strategies, etc.
REGIONAL ANALYSIS North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Key Factors Covered in the Report:

  • Global Mission Management Systems Market Summary
  • Economic impact on industry
  • Market competition in terms of manufacturers
  • Production, Revenue (Value) by Geographic Segmentation
  • Production, Revenue (Value), Price Trend by Type
  • Market analysis by application
  • Cost survey
  • Industrial chain, raw material sourcing strategy and downstream buyers
  • Understanding of Marketing Strategy, Distributors and Traders
  • Market Research Factors Study
  • Global Mission Management Systems Market Forecast
  • The analysis objectives of the report are as follows:

    To know the global Mission Management Systems market size by identifying its subsegments.
    -Study important players and analyze their growth plans.
    To analyze the global Mission Management Systems market amount and value, based on key regions
    To analyze the global Mission Management Systems market regarding growth trends, prospects as well as their participation in the overall industry.
    To examine the global Mission Management Systems Market size (volume & value) by company, essential regions/countries, products and application, background information.
    – Key worldwide Global Mission Management Systems Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis and plans development for the future.
    -To review competitive progress such as expansions, arrangements, new product launches and acquisitions in the market.

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    Travelers seek to pin electrocution claim on CM Vantage https://investingnewswire.club/travelers-seek-to-pin-electrocution-claim-on-cm-vantage/ Sat, 11 Jun 2022 01:03:00 +0000 https://investingnewswire.club/travelers-seek-to-pin-electrocution-claim-on-cm-vantage/ By Eric Heisig (June 10, 2022, 9:03 p.m. EDT) – The Travelers Indemnity Co. of America says a Wisconsin-based insurer should defend a New Jersey homeowner and ultimately cover any payments for a company employee plumber who said he was electrocuted while repairing a boiler in the basement of an office building. The Hartford, Connecticut-based […]]]>
    By Eric Heisig (June 10, 2022, 9:03 p.m. EDT) – The Travelers Indemnity Co. of America says a Wisconsin-based insurer should defend a New Jersey homeowner and ultimately cover any payments for a company employee plumber who said he was electrocuted while repairing a boiler in the basement of an office building.

    The Hartford, Connecticut-based insurer, in a lawsuit filed Thursday, said it only agreed to provide excess coverage for 1655 Valley RD LLC to Wayne, owner of the Wayne Solar Center located at the same address as the company name. Injuries should be covered by a policy that the contractor Quality Facility Solutions Corp. had with CM…

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    The city tells 9th Circ. The polluter’s insurer must cover the cleanup case https://investingnewswire.club/the-city-tells-9th-circ-the-polluters-insurer-must-cover-the-cleanup-case/ Wed, 08 Jun 2022 22:55:00 +0000 https://investingnewswire.club/the-city-tells-9th-circ-the-polluters-insurer-must-cover-the-cleanup-case/ By Morgan Conley (June 8, 2022, 6:55 p.m. EDT) — A California city told the Ninth Circuit on Wednesday that a lower court erroneously ruled that a former metal plating company’s insurance policies did not cover $1.4 million settlement reached to end environmental contamination litigation. The Ninth Circuit heard arguments from a California city that […]]]>
    By Morgan Conley (June 8, 2022, 6:55 p.m. EDT) — A California city told the Ninth Circuit on Wednesday that a lower court erroneously ruled that a former metal plating company’s insurance policies did not cover $1.4 million settlement reached to end environmental contamination litigation.

    The Ninth Circuit heard arguments from a California city that an insurer is liable for $1.4 million in legal fees and cleanup expenses in an environmental contamination lawsuit. (AP Photo/Jeff Chiu)

    In its opening brief, the City of West Sacramento told the Ninth Circuit that Arrowood Indemnity Co. was to pay it $1.4 million in legal fees and cleanup expenses after its policyholders entered a stipulated judgment approved by the court….

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