Individually and Collectively, we need to work towards making “Excellence” as a Way of our life, in our organisation. And for this to happen, the most important requirement is that we sustain, the “best version of ourselves” at all times, at work ..!! Remember, excellence is always linked to being the best
Insurers operate in an increasingly data-rich and algorithm-oriented world, where growing computational power allows machines to collect, transform and analyse data with even more efficiency. Data science and machine learning present an opportunity for actuaries to innovate traditional actuarial fields
Automating the underwriting process holds great potential, but to realise that potential you need the right product or products. There are plenty of software suppliers and plenty of decision engines out there but there is a big range of capabilities too.
Carbon Neutral in Insurance is a subject where volumes can be written since it is a Programme that is yet to emerge in the Industry. Insurance, as an industry is conservative with plenty of regulatory and statutory controls, this would logically mean that progress on an area like “Transformational Thinking“ and related Reengineering, will be gradual.
COVID 19, a global pandemic, will go down in history as one of the deadliest disasters of the modern era. As of December 2021, 280 million people have been victims of this notorious virus, out of which more than 5 million have died so far....
A news item in a leading newspaper on 29.2.22 must have shocked many readers. Knowing that the fraud really occurs is one thing; but knowing the magnitude is another thing! This Rs 100 crore a day amounts to 36,500 crore in a year with virtually every Indian having an account or two in a bank; and this is for last seven years.
Recently according to a news reported in the ‘The Economic Times’ “Health insurance online sale spurts up to 30%, offline sales fall due to coronavirus impact”, which is a proof of both online sales scaling up and the main reason of the same.
Is Underwriting as a stressful job? This question has been doing rounds for quite some time & we thought it’s the right time to take a deep dive into this subject. In Indian Context, the best way to look at this is to understand the way the Life Insurance Industry has evolved from a product perspective.
Stress is any demand (physical or mental) that is placed on our body. Stress is a state of anxiety produced when events and responsibilities threaten to exceed one’s coping abilities. Both Major life changes as well as daily hassles lead to the development of stress.
We have survived two years of the COVID 19 pandemic. In the last two years, we all have made drastic changes to our everyday lifestyles and how we go about doing things. As soon as we feel the pandemic is about to end, a new variant of coronavirus emerges. No one knows when the uncertainties of the pandemic will cease.
A survey conducted by Kroll and Internal Audit Foundation, concluded “80% of Internal Auditors face barriers while getting Involved in Fraud Risks Management”; this applies as much to health insurance segment as well.
Insurance companies are facing challenges- high pending cases, high claim ratios and paying crores of rupees just because doctor(s) won’t answer the query raised or the insurer does...
Policy structures seldom change but when it changes, it results in a pool of challenges for the insurers- satisfy the regulator on one hand as well as ensure self-protection via a medical, legal...
Why should rising health claim be a surprise? Some or more of the factors are in play; some affect all insurers and others are insurer specific....