THE INSURANCE TIMES - September 2024

In this issue

In this issue we have covered articles on - Curing Insurance Phobia - Vazir Ahmed Khan; Effect of Electric Vehicles on Motor Claims - Shashi Bhushan; Pension to Elderly Women- A step towards dignified grey years - Dr. Seema Arora; How Health Insurance Works: Key Terms and Concepts - Deepika Guleria; Mary Celeste: Salvage Insurance Fraud or Real Mystery - Historical Maritime Fraud - Dr. Soumi Mukherjee; Revolutionizing Insurance - The Impact of InsurTech on the Future of Risk Management - Piyush Kumar Jha; What is next for Insurance Distribution? - Sumanas Kar & Venkat Malladi; Retirement Planning: How insurance can contribute towards building a robust retirement fund - Piyush Trivedi.
Interview with Interview with Syed Meraj Naqvi, CEO & Principal Officer, Riskbirbal Insurance Brokers.
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.

Curing Insurance Phobia

In my last article, \"Insurance Phobia\" published in the \"Insurance Times\", I enumerated various aspects of why people are afraid of insuring as they feel that insurance is not a transaction worth spending money on for reimbursement of unfortunate loss. They say that they go on insuring but no claims are made.

8 mins

Effect of Electric Vehicles on Motor Claims

Electric vehicles (EVs) differ from combustion engine vehicles, particularly in terms of torque. The torque of an electric vehicle is more linear, providing instant maximum torque, whereas in a combustion engine, maximum torque is reached gradually after the vehicle achieves a certain speed and engages in regenerative braking.

4 mins

Pension to Elderly Women- A step towards dignified grey years

In India, joint family system was the basis to meet all the social security needs of the joint family members, whether it was poor health, old age, financial or emotional support to the widow and children of any deceased member of the family. With urbanization, industrialization and migration, India witnessed a gradual disintegration of this system, which necessitated the need of a formal social security system.

7 mins

Mary Celeste: Salvage Insurance Fraud or Real Mystery - Historical Maritime Fraud

BRIG: Two-masted square-rigged ship, typically having an additional lower fore-and-aft sail on the gaff and a boom to the mainmast. Till the beginning of 20th Century it was using for sea trading.

10+ mins

Revolutionizing Insurance - The Impact of InsurTech on the Future of Risk Management

InsurTech, short for Insurance Technology, involves using technological innovations to improve efficiency and reduce costs in the insurance industry. The innovations harnessed in InsurTech typically come from fields such as big data, artificial intelligence, machine learning, IoT (Internet of Things), and blockchain.

4 mins

What is next for Insurance Distribution?

In today's fast-paced world, the only constant is rapid change. While change has been a buzzword across all industries, insurance was often perceived as slow and unyielding due to its complex regulatory environment and the nature of its products. However, the last decade has turned this perception around.

4 mins

Retirement Planning: How insurance can contribute towards building a robust retirement fund

\"Retirement phase of our life is a milestone where we bid adieu to a traditional work routine and set out to begin a new chapter. It's a wonderful phase where we seek to fulfil many of our dreams and aspirations that may have been on hold during the working years.\"

3 mins

"With over 15 years in the insurance industry, I've focused on steering our company toward profitability and market leadership. Recognizing gaps in policy understanding and time-consuming processes, we founded Riskbirbal Insurance Brokers to offer quick, Al-driven solutions."

Syed Meraj Naqvi is a visionary leader known for his astute business sense and a proven history of propelling overall growth. With over a 15-year career in the insurance industry, he has consistently guided the company towards profitability and carving a prominent position in the market. Today, Naqvi has plans to integrate cutting-edge technology in the insurance and risk management industry and provide seamless experience to small & medium businesses. Thus, he aims to create insurance products and risk management services that involve a mixed model of POS and direct engagement, facilitated by robust software solutions.

5 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.