Usage-Based or Telematics Car Insurance in India
THE INSURANCE TIMES|July 2023
"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." 
Usage-Based or Telematics Car Insurance in India

Telematics insurance is an insurance where a device is fixed in the vehicle and the data is taken from the vehicle. The data which is generated contains various elements such as the distance traveled by a car, the pattern or in other words the daily route which is followed, and also driving parameters such as -the driving behaviors of drivers (Rough Driving, Soft Driving, Rash Driving, etc.). Further to these fast acceleration, hard braking, cornering, and airbag deployment are tracked by the device.

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THE INSURANCE TIMES

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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.

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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.

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How various insurtech startups are addressing the challenge of low market penetration in the Indian Life insurance sector
THE INSURANCE TIMES

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.

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Exclusion clauses in Insurance Contract: Enforceability and Interpretation
THE INSURANCE TIMES

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.

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Risk Management 2.0 in the new Gen Z Milieu
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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.

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International News
THE INSURANCE TIMES

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Life Insurance News
THE INSURANCE TIMES

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.

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