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"IMS Unison University differentiates itself in the Indian higher education landscape through a strong commitment to quality education, a personalized student experience, and a modern, industry-relevant curriculum."
About Dr Anil Subba Rao Paila
IRDAI Corner
Insurance Regulatory and Development Authority of India (Insurance Fraud Monitoring Framework) Guidelines, 2024
Insurance Caselaws
The Himachal Pradesh State Commission orders Oriental Insurance Co. to pay Rs. 7.9 lakhs for repudiating an insurance claim solely because of delayed notification.
New Product Launches
Canara HSBC Life Insurance unveils new plan combining life protection and wealth creation
Gunford: Marine Insurance Fraud or Purely Coincidence!!
Global Maritime trade is affected hugely by the policies of maritime insurance being followed in various nations. An insurance policy is a contract in which an individual or entity (known as an insured) receives monetary reimbursement against losses, emerging from the occurrence of an event, from an insurance company (known as an insurer), generally in exchange for a premium.
How various insurtech startups are addressing the challenge of low market penetration in the Indian Life insurance sector
India's life insurance sector, despite being one of the largest markets in the world by population, faces a significant challenge in terms of market penetration. With a penetration rate hovering around 3% of GDP, it's clear that a vast majority of Indians remain either uninsured or underinsured.
Exclusion clauses in Insurance Contract: Enforceability and Interpretation
The terms of the insurance contract require strict construction without eschewing or adding the words in the contract. However, insurers are exempted from any liability where the loss is attributable to an excluded peril specified in the exclusion clause or not mentioned in the covered causes/perils/risks/loss.
Risk Management 2.0 in the new Gen Z Milieu
I notice that the world has significantly changed over the last five years due to black swan events (like Covid-19), geopolitical upheavals affecting supply chains (like situation in Middle east and Eastern Europe) and tech advances (like Al, robotics) have reshaped the risk landscape. Risk professionals must now adapt faster than ever to navigate these disruptions to ensure business resilience.
International News
Growing demand in Europe: Munich Re remains disciplined while further expanding
Life Insurance News
About 7 crore people have subscribed to the Atal Pension Yojana (APY) whose corpus has swelled to Rs 35,149 crore, Finance Minister Nirmala Sitharaman said.
Health Insurance News
100 Hospitals Achieve Digital Certification from NABH
Insurance Regulator Update
Panda encourages more conglomerates to enter Insurance Sector
General Insurance News
PM's Principal Secretary Advocates for Broader Insurance Coverage Across All sectors
"We concentrate on climate risk and adaptation, climate change mitigation and inclusive insurance which complements Munich Re's sustainability agenda. This has been the case from the beginning and has not changed."
Q1: The Munich Re Foundation was established in 2005 to mark the 125th anniversary of Munich Re. Could you elaborate on the mission of the Foundation and how it has evolved over the years?
IRDAI Corner
The Insurance Regulatory and Development Authority of India (IRDAI) as part of steps towards reinforcing empowerment of policyholders has issued Master Circular on Protection of Policyholdersi¦ Interests under the IRDAI (Protection of Policyholdersi¦ Interests, Operations, and Allied Matters of Insurers) Regulations, 2024 replacing 30 circulars.
Insurance Caselaws
The Supreme Court disagreed with the National Consumer Disputes Redressal Commission's (NCDRC) ruling in an appeal contesting an NCDRC ruling.
Legal Update
J&J told to pay Rs. 35L each as compensation to hip implant victims
New Product Launches
Star Health and Policybazaar Launch 'SUPER STAR': A Modular Long-term Health Insurance Plan
Pension to Elderly Women- A step towards dignified grey years
The problem of old age is more severely felt by the women because of their being financially dependent either on the spouse or on children. Ignoring the issues concerning elderly women poses a major social development challenge for the country.
The Why and How of Hyperpersonalization in Insurance
A case study by McKinsey predicted 5-15% increase in revenue and 10-30% increase in marketingspend efficiency through personalized product recommendations. Another study reported that 78% of insurance executives believe personalized service based on real-time data analytics will be a crucial differentiator in the industry.
Oxygen Mask for Suffocating Patients
The clouds of COVID menace have not yet vanished, Yet there is emergence of several associated diseases. The major loss was due to insufficiency of oxygen to the dying patients despite WHO giving several instructions for prevention of COVID like maintaining social distance and usage of mask.....
Inclusive Insurance Global Landscape: Summary of recent studies -
A report from the Microinsurance Network reveals that inclusive insurance is making strides, but challenges remain in terms of scale and reach. The report finds that 330 million individuals are covered globally by inclusive insurance products, including health, agriculture, and property insurance. However, despite these advancements, there is still an 88.5% protection gap-only 11.5% of the potential market is currently insured.
Inclusive Health Insurance: Ensuring Access to Affordable Healthcare for Low-Income Populations
Access to affordable healthcare remains a critical challenge for low-income and informal sector workers worldwide. With rising healthcare costs and the lack of financial safety nets, millions of people are forced into poverty each year due to medical expenses.
Building Sustainable Microinsurance Models: Lessons from Asia, Africa, and Latin America
Microinsurance plays a crucial role in providing financial security to low-income populations that are often excluded from traditional insurance markets. These underserved communities are highly vulnerable to risks such as health emergencies, natural disasters, and loss of income.
Climate Change and Its Impact on Inclusive Insurance: Safeguarding Vulnerable Communities
As climate change intensifies, its impact on vulnerable communities-particularly those at the bottom of the economic pyramid-has become increasingly apparent. These populations, often residing in developing countries, face heightened risks from climate-related events such as floods, droughts, cyclones, and extreme heat.
The Role of Digital Innovation in Expanding Inclusive Insurance: Leveraging Fintech for Greater Coverage
As the insurance industry continues to evolve, digital innovation is proving to be a powerful force in expanding access to inclusive insurance. This transformation has been particularly impactful for low-income populations that have historically lacked access to traditional insurance products.
Bridging the Protection Gap: Strategies to Reach the Bottom of the Pyramid in Inclusive Insurance
As global attention increasingly shifts towards financial inclusion, insurance coverage for lowincome populations, often referred to as the \"bottom of the pyramid\" (BOP), has become a central issue. Despite strides in inclusive financial services, a significant protection gap still exists for vulnerable communities in developing countries.
International Conference on Inclusive Insurance at Nepal (ICII 2024) Media Partner: The Insurance Times
The International Conference on Inclusive Insurance (ICII 2024), taking place from 21-25 October in Kathmandu, Nepal, will mark the 20th edition of this globally significant event.
International News
Ensuring Safer Skies in Nepal Through Adherence to Standard Operating Procedures
Life Insurance News
LIC Seeks IRDAI Review of Surrender Value Guidelines