Tag Search Result

  • Industry finds hope in the recommendations!

    It looks like happy days are here again for the reinsurance fraternity in India, as the Reinsurance Expert Committee (REC) has recommended that after GIC Re, insurers should be allowed to obtain the best terms simultaneously from Indian reinsurers, foreign reinsurance branches, Lloyds India and cross-border reinsurers that satisfy eligibility criteria.
     

    Source : AIR | 01 Jan 2018
  • Life industry on a roll

    The life insurance industry in India, consisting of 24 companies, has seen robust growth in 2017, backed by new business models, better products, customer centric technological initiatives along with a growing trend of personal savings in India. The industry is poised for higher growth in the second half of the current financial year and private insurers are expected to lead the charge.  We speak to Mr Amitabh Chaudhry, MD & CEO, HDFC Life, on some of the issues the market is grappling with and what the future holds for the industry.
     

    Source : AIR | 01 Jan 2018
  • General Insurance Company of the Year - 21st Asia Insurance Industry Awards 2017: Apollo Munich Health - This Award inspires us to reach new milestones

    Awards are great! They are a mark of recognition given in honour of an achievement! Awards enhance a company’s brand reputation, instil confidence in customers about the quality and professionalism, and help employees take pride in their work. 
     

    Source : AIR | 01 Jan 2018
  • Cyber gap still prevalent in India

    Mr Saurabh Verma of Reliance Industries Limited says cyber is one of the top 3 concerns for him, while lamenting that there are not many insurers are offering cyber protection.
     

    Source : AIR | 01 Jan 2018
  • RM Vishakha: Balancing gender imbalance

    Gender and diversity is an intricate and nuanced matter for business and HR leaders to be mindful about. Specifically, in the context of the Indian insurance landscape, the key themes centre on creation of organic considerations for women across versatile job profiles, inclusion of the differently-abled, and monitoring synergies across generations.
     

    Source : AIR | 01 Jan 2018
  • GIC Re: Underwriting its future

    2017 was an eventful year for GIC Re. In an interview with Asia Insurance Review, Mrs Alice G Vaidyan, Chairman-cum-Managing Director, GIC Re, assesses their achievements during the year and their plans for the years ahead.
     

    Source : AIR | 01 Jan 2018
  • From India to the world

    J B Boda is India’s oldest reinsurance broker, having started operations in 1943, and has today established itself as a major player around the world. The company’s Chairman, Mr Atul Dhirajlal Boda, speaks on the journey so far and the future goals for the company. 
     

    Source : AIR | 01 Jan 2018
  • Indian non-life insurance industry: Performance and potential

    The Indian insurance industry has been on a roll for the last 17 years. It is now on a threshold to make the big jump into the super league. Mr R Chandrasekaran of General Insurance Council of India outlines what the non-life insurance industry has achieved over the years and what remains to be tapped.
     

    Source : AIR | 01 Jan 2018
  • Which will win, cybercrime or cyber insurance?

    Rapid digitalisation and growth of online culture in India has also brought in sophisticated cybercrime. Asia Insurance Review speaks to Mr Sasikumar Adidamu, Chief Technical Officer, Bajaj Allianz General Insurance, to understand how insurers can play an important role in developing a comprehensive cybersecurity framework, including cyber insurance, to tackle cybercrime.
     

    Source : AIR | 01 Jan 2018
  • Digital transformation in Indian insurance

    Can the online model be a panacea for tapping the untapped insurance potential and eliminating insurance distribution bottlenecks in India? We speak to two new-age insurers to understand more about the digitalisation of the Indian insurance landscape.
     

    Source : AIR | 01 Jan 2018
  • Indian flood: Risk and opportunity

    India is one of the most flood-exposed nations on the planet, and the hazard is increasing year on year. Along with a rise in severity, the frequency of flood events has jumped significantly over the last decade. Mr Vikas Wadhera of RMS discusses this Nat CAT risk in India. 
     

    Source : AIR | 01 Jan 2018
  • India's competitive critical illness sector - It's a Service Game

    Ms Kalpana Sampat of Swiss Reinsurance Company Ltd, India Branch, looks at the under-penetrated critical illness insurance sector and says insurers need to offer new and more services to win consumers and manage the burden of chronic illness in India.
     

    Source : AIR | 01 Jan 2018
  • India: 2nd state-owned general insurer gets regulatory nod for IPO

    The IRDAI has given its in-principle approval to the government-owned National Insurance Company to list its shares, as the insurer has strengthened its balance sheet and improved solvency margins.
     

    Source : AIR | 01 Jan 2018
  • Understanding Insurance of Health

    Source : AIR | 01 Jan 2018
  • Indian Insurers: IPOs and beyond

    With as many as six (re)insurers lined up with IPOs amounting to around US$7.8 billion, the journey ahead for the Indian insurance industry will be quite exciting. 
     

    Source : AIR | 01 Oct 2017
  • Millennials: Get them on board

    The insurance industry does not figure on any list of preferred employers. We speak to different stakeholders on how to win talent, especially the millennials, over. 
     

    Source : AIR | 01 Oct 2017
  • Indian Insurance: Promote prevention

    To tackle the rising threat of natural ‘urban’ catastrophes and ensure that the gains made by the fast developing Indian insurance industry are not wasted, it needs to promote a culture of loss prevention.
     

    Source : AIR | 01 Nov 2017
  • India: Health insurance plan for poor families seen as falling short

    The government-run Rashtriya Swasthya Bima Yojana (RSBY), launched in 2008, is seen to have failed in its mission to protect poor households from financial risks due to health spending.
     

    Source : AIR | 01 Nov 2017
  • India: Mr Atul Boda inducted into FAIR Hall of Fame

    Mr Atul Dhirajlal Boda, Chairman, J B Boda Group of Companies was the recipient of the FAIR Hall of Fame Award at the 25th FAIR Conference held in Bahrain in October 2017. Mr Boda has more than 30 years of experience in the insurance and reinsurance industry around the world.
     

    Source : AIR | 01 Nov 2017
  • Digital transformation: A journey to stay relevant

    This interesting take depicting a conversation between DXC Technology and its client, Mr Anshul Srivastav, CIO, Union Insurance Company P. S. C., highlights the role of cloud, digital transformation and its benefits.
     

    Source : AIR | 01 Nov 2017
  • 114 students conferred PGDM by National Insurance Academy

    114 students of 2014-16 and 2015-17 batches of PGDM programme (Post Graduate Diploma Programme in Management) of National Insurance Academy (NIA), received their diplomas at the convocation held at the NIA campus in Pune on 16 September this year.
     

    Source : AIR | 01 Nov 2017
  • State-owned Russian reinsurer sets sights on Asia

    The Russian National Reinsurance Company (RNRC) was established by Russia’s Central Bank in August 2016 but only started operations in January 2017. However, it has already gained CIRC’s approval to operate in China in the specialty market, and has been granted a licence in Egypt. We caught up with Vice-President of Business Development Igor Karpovich at the SIRC 2017 to learn more about the reinsurer’s hunger for new business in the region.
     

    Source : AIR | 01 Dec 2017
  • Echo Re targeting more Asian business

    Dr Peter F Hugger is the man at the helm of Echo Re since February 2012. Having spent a considerable part of his 30-year professional life in Asia, with some of the top names in the reinsurance business, he is now ready to chart a new course for Echo Re in Asia, where the company already has a big presence and where he believes lies the opportunity for international players like his. He speaks to Asia Insurance Review on his new plans and strategy for the region, and the future ahead for his company.
     

    Source : AIR | 01 Dec 2017
  • Samsung Re: Expanding beyond group business

    Samsung Re has been keeping a low profile since its inception in 2011 but of late, the reinsurer has adopted a new strategy to expand its operations beyond its group business and into newer territories across Asia. We speak to Mr Tae Y Choi, CEO, Samsung Re at the SIRC, to find out the plans and strategies ahead for the company.
     

    Source : AIR | 01 Dec 2017
  • Insurers and InsurTechs - A symbiotic partnership

    Asia Insurance Review speaks to four leading Indian InsurTech companies to find out how they define their role in the Indian insurance ecosystem.
     

    Source : AIR | 01 Dec 2017
  • Institute of Risk Management expands footprint to Asia

    The London-headquartered Institute of Risk Management has appointed its first “ambassadors” in India, as it seeks to expand its international footprint into Asia. It comes on the back of the organisation’s inaugural visit to China last month. 
     

    Source : AIR | 01 Feb 2018
  • India: Unified financial regulator mooted for international financial service centre

    The government is looking into creating a unified financial regulator for India’s only international financial service centre, Gujarat International Finance Tec (GIFT) City, after individual regulators indicated that they have no objection to the idea, according to GIFT Managing Director Ajay Pandey. 
     

    Source : AIR | 01 Feb 2018
  • Satellite data offers new hope for flood-stricken farmers in India

    Dr Giriraj Amarnath and Dr Alok Sikka of International Water Management Institute (IWMI), explain how satellite images and flood modelling tools can help farmers in India.
     

    Source : AIR | 01 Mar 2018
  • Rajesh Sud: 17 going on 18!

    Mr Rajesh Sud, Executive Vice Chairman & MD of Max Life Insurance Company, is among the rare breed of CEOs to have survived in the top management space for over 17 years in one of India’s leading life insurance companies. He has seen the development of the life industry from close quarters since its liberalisation in 2000 and gives us his perspective of the industry.
     

    Source : AIR | 01 Mar 2018
  • Asia: InsurTech investments surging strong

    InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.
     

    Source : AIR | 01 Mar 2018
  • India: Insurance mart could expand by 230% to US$280 bln in 3 years

    India’s Vice President M Venkaiah Naidu has said that the domestic insurance industry is expected to grow to US$280 billion by 2020 from $84.72 billion in 2017 as the country is poised for higher economic growth.
     

    Source : AIR | 01 Mar 2018
  • Cybercrimes make healthcare sick

    Modern healthcare industry is highly evolved. However, with petabytes of sensitive and vital data, it has become vulnerable to cyber-crime prowlers. Employees have emerged as the weakest link in the chain. Continuous training and reskilling of human resource, at all levels can thwart at least 95% of cyber-attacks.
     

    Source : AIR | 01 Mar 2018
  • New reinsurers are the flavour of the season!

    Market participants in India have now transcended from finding the ideal reinsurance partner globally to having them in India itself! It is indeed ‘The New World of Reinsurance in India’.
     

    Source : AIR | 01 Mar 2018
  • Insurers have a role in road safety

    If a jumbo jet with 400 passengers crashes, it makes breaking news. 400 deaths on Indian roads every day however, go unnoticed. Two insurance companies are doing their bit to improve road safety, a much neglected public health issue which is largely preventable.
     

    Source : AIR | 01 Mar 2018
  • IFoA on UN sustainability goals

    Asia Insurance Review speaks to Ms Marjorie Ngwenya, President of Institute and Faculty of Actuaries, UK, as she shares her views on IFoA’s new initiatives, her vision for the future of the profession, pricing and affordability of insurance, India and emerging risks. 
     

    Source : AIR | 01 Mar 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.
     

    Source : AIR | 01 Mar 2018
  • India's budget conundrum - Insuring 500 million

    The world’s largest government funded healthcare programme which is expected to benefit 500 million beneficiaries was announced by the Indian Finance Minister Arun Jaitley in his Budget proposal presented in February for the 2018-19 fiscal year (FY2019). We look at the challenges before the government in getting this programme off the ground and running.
     

    Source : AIR | 01 Mar 2018
  • J B Boda: Building relationships for 75 years

    The J B Boda Group pioneered reinsurance broking in India and is celebrating its 75th Anniversary this year. We speak to Mr Atul Dhirajlal Boda, Chairman of the Group on the journey so far and the road ahead.
     

    Source : AIR | 01 Mar 2018
  • Lloyd's: Seeking sustainable pricing for all

    On the sidelines of the 11th India Rendezvous 2018 in Mumbai, Ms Inga Beale, CEO of Lloyd’s of London, shared with us her thoughts on the global (re)insurance markets, especially in emerging Asia, and their focus on achieving a sustainable pricing for all. 
     

    Source : AIR | 01 Mar 2018
  • India: Insurers ask for premium increase to cover govt accident plan

    Insurance companies, mainly government-run insurers, are losing money on the Prime Minister’s accident insurance scheme, Pradhan Mantri Suraksha Bima Yojana (PMSBY), with losses of 80-100%.
     

    Source : AIR | 01 Apr 2018
  • India's actuarial pioneers

    K A Pandit Consultants & Actuaries is India’s oldest actuarial firm and it is celebrating its 75th Anniversary this year. The firm is today a major player in the Indian market where it operates in the life insurance, non-life insurance and employee benefits space, and is also a member of Abelica Global, a global consortium of actuaries. We speak to Mr Dharmendra K Pandit, partner, on the journey so far and the role of actuaries in today’s highly automated industry.
     

    Source : AIR | 01 Apr 2018
  • Bajaj Allianz General: Human touch is still important despite digitisation

    As India progresses economically and the country’s insurance penetration rises, what does the Indian customer expect from their insurers? Can technology and digitalisation be a “cure-all” solution for customers’ expectations? How to fulfil all these expectations and still be profitable? Mr Tapan Singhel, Managing Director & CEO, Bajaj Allianz General Insurance Company, shares his views on these crucial issues with Asia Insurance Review. 
     

    Source : AIR | 01 Apr 2018
  • Indian Insurance Brokers: Future is promising, only if!

    The Indian insurance broking business has been a substantial contributor to the growth of the country’s insurance industry. With artificial intelligence, digitalisation and web-aggregators likely to pose a tough competition to the brokers, the new IRDAI (Insurance Brokers) Regulations 2018 does attempt to create a level playing field. 
     

    Source : AIR | 01 Apr 2018
  • Bancassurance blockbuster partnership

    Bancassurance is one of the main distribution channels for insurers in South Asian markets. We speak to some major players to get their perspective on the state of the market and the future for bancassurance.
     

    Source : AIR | 01 May 2018
  • India: Complaints mount at 'headless' Insurance Ombudsman offices

    About 6,000-7,000 complaints have piled up at all 17 Insurance Ombudsman offices in India because the post of Ombudsman has been vacant in these offices for months.
     

    Source : AIR | 01 May 2018
  • Indian insurance: Going on 18

    View from India. As Indian general insurance turns 18 and acquires the adulthood tag, a look at what it achieved in 2017-18 and what it looks forward to.
     

    Source : AIR | 01 May 2018
  • Banc-ing on life growth

    Bancassurance attracts some of the biggest insurers and banks with its allure of a strategic win-win, faster growth and scale economies – we look at the state of bancassurance in some Asian markets.
     

    Source : AIR | 01 May 2018
  • India: Govt urged to resolve uncertainty over regulation of pension products

    The Pension Fund Regulatory and Development Authority (PFRDA) is seeking clarification from the government on several questions related to the regulation of pension products. The move is seen as an attempt to bring all pension products under the purview of a single regulator.
     

    Source : AIR | 01 Jun 2017
  • Swiss Re India: Think big, get innovative and go digital

    Indian insurers want numbers! Both literally and figuratively! Expectations of the Indian customer are ever-evolving. She wants simple, one-click innovative customised solutions. Insurers can offer these, the digitalisation way. We speak with Ms Kalpana Sampat, CEO, Swiss Re India branch, and Mr Jonathan Anchen, Senior Vice President, Swiss Re Institute, to elicit their views on how to exploit the vast potential that the Indian insurance market has to offer but is untapped as yet.
     

    Source : AIR | 01 Jun 2017
  • "Disciplined softening"

    Mr Jong-Gyu Won of Korean Re gives an overview of the April 2017 renewals in Japan, North America and India, highlighting the pressures on prices as reinsurance capacity remains affordable.
     

    Source : AIR | 01 Jun 2017
  • A simpler world of insurance

    Asia Insurance Review speaks with Digit Insurance appointed actuary Adarsh Agarwal on its mission to create a new experience for neo consumers – a simpler world of insurance.
     

    Source : AIR | 01 Jun 2018
  • India holds great potential for travel insurers

    India offers great potential for travel insurers. As India emerges as a net exporter of tourists, the business of insuring them is set to grow substantially and this could be a significant growth business.
     

    Source : AIR | 01 Jun 2018
  • A new paradigm in CAT Modelling for Indian crops

    JBA Risk Management’s Iain Willis explains how modellers can overcome the challenge of developing probabilistic solutions for Indian crops.
     

    Source : AIR | 01 Jun 2018
  • Insurance investments - Ethics or profits?

    Profit is usually the sole purpose of investment. However, should investment instead be ethical and socially responsible? Should insurance companies, especially public sector companies, keep away from investing in tobacco companies, even at the cost of substantial profits?
     

    Source : AIR | 01 Jul 2017
  • India: GIC Re achieves record growth of 82% in FYE17

    GIC Re, India’s national reinsurer, is on a growth trajectory, having achieved an impressive growth of 82.2% during the fiscal year ended 31 March 2017 (FYE17).
     

    Source : AIR | 01 Jul 2017
  • India: At least 6 insurance IPOs by early next year

    India will see at least six (re)insurance companies in both the private and public sectors float their shares on the stock exchange this year or next.
     

    Source : AIR | 01 Jul 2017
  • View from India: Prevention is better than cure

    Any step by the Indian insurance industry to support government efforts to reduce the carnage on Indian roads due to mounting road accidents would only add to their profitability.
     

    Source : AIR | 01 Jul 2018
  • India: Underinsured offers huge growth potential to life insurers

    The growth opportunity in India’s life sector lies in catering to the underinsured, says global financial services company Jefferies in a report on life insurance.
     

    Source : AIR | 01 Jul 2018
  • Asia Pacific: Regional giants to drive global life market

    The giant emerging markets of China and India will drive global life premium growth in the coming years, forecasts Swiss Re Institute in its sigma report titled “World insurance in 2016: the China growth engine steams ahead”.
     

    Source : AIR | 01 Aug 2017
  • India: Regulator takes big step to protect policyholders

    The IRDAI has effected a new regulation, which is seen as a big move towards protecting policyholders’ interests.
     

    Source : AIR | 01 Aug 2017
  • Home insurance: Indians are not at home with it!

    In India, many are still ignoring issues pertaining to safety and security of their homes. Could the new Real Estate Regulatory Authority Act (RERA Act) be a game-changer? 
     

    Source : AIR | 01 Aug 2017
  • CSR gives insurers a community connect

    Insurers around Asia now see CSR as an opportunity to build bridges with communities which not only creates goodwill for their business but also helps them make a meaningful contribution to society. 
     

    Source : AIR | 01 Aug 2018
  • View from India: Hotspots will be hot to handle

    Eight hundred million people in South Asia are at risk since the areas in which they live are projected to become ‘moderate’ to ‘severe’ hotspots by 2050 according to a World Bank study ‘South Asia’s Hotspots’. Six hundred million of these live in India.
     

    Source : AIR | 01 Aug 2018
  • India: Future Generali delivers policies via WhatsApp

    Future Generali India Insurance (FGII) said that it has begun to deliver insurance policies via WhatsApp, becoming the first general insurer in India to adopt this channel.
     

    Source : AIR | 01 Aug 2018
  • India: RI market to grow at CAGR of 11-14% for next 5 years

    Reinsurance premiums in India are projected to increase at 11-14% CAGR over the next five fiscal years to hit INR700 billion (US$11 billion) by 31 March 2022, says state-owned GIC Re in its draft red-herring prospectus.
     

    Source : AIR | 01 Sep 2017
  • Loss of Indian science was a gain for the Indian insurance industry

    Asia Insurance Review caught up with Mr Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance Company, who was recognised as a LinkedIn Power Profile for the third consecutive year – a hat trick!  In this exclusive, the insurance stalwart shares his thoughts on a variety of issues including digitalisation and building good corporate culture.
     

    Source : AIR | 01 Sep 2017
  • Asian Insurers: Greater Expectations!

    Reinsurers play an increasingly important role in most insurance markets in Asia and each year the expectations grow. So this year, in our coverage to kick start the renewal season with Monte Carlo, we polled a team of “seven wise” insurers around the region from big and small markets to gauge their expectations. Reinsurers have big shoes to fill. The market awaits.
     

    Source : AIR | 01 Sep 2017
  • Reinsurance gets a push

    We bring you a quick round-up of the experience of some of the foreign reinsurers with approved branch offices in India in the 1 April renewals this year, and highlight their vision for the market.
     

    Source : AIR | 01 Sep 2017
  • View from India: To be simpler and to cover more

    Health insurance policies in India are set to become simpler with minimal exclusions. Also, with greater use of technology by insurers, policyholders can look forward to better services.
     
     

    Source : AIR | 01 Sep 2018
  • India: Picture-based loss assessment need of hour for crop insurance

    The way forward to making crop insurance more of a success in India may lie in advanced methods such as picture-based loss assessment accurately to determine beneficiaries International Food Policy Research Institute (IFPRI) economist Dr Berber Kramer has said.
     

    Source : AIR | 01 Sep 2018
  • Nepal Re: Readying for the long haul

    Nepal Re CEO Chirayu Bhandari provides a perspective on the challenges and strategies before the company.
     

    Source : AIR | 01 Sep 2018