Abhishek Verma

LIC leads as life insurance new business premiums surge on low base in April LIC reported higher APE growth, compared to private players leading to an increase in market share which is likely to reduce as the growth of private players picks up going ahead. #LIC #LifeInsurance #insuranceindustry #businesspremiums https://lnkd.in/eUknDN6T

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🌟We are delighted to welcome Shubham Verma, who recently joined us as - Senior Manager for the Claims Department!🌟 Shubham is all about blending strategic vision with operational excellence to shake things up in the insurance world. He's passionate about using data-driven solutions and putting customers at the heart of everything we do. Here's the scoop on Shubham: he played a pivotal role in revolutionizing claims management systems, making them faster and boosting customer satisfaction. And let's talk savings - he's a wizard with data analytics, sniffing out cost-saving opportunities that will save us a pretty penny. But it's not all about the numbers with Shubham. He's a people person too (typical Delhiite), leading teams with charisma and implementing changes that have made all work smarter, not harder. Certified in Six Sigma, Google Data Analytics, Digital Marketing, and more, Shubham's got the expertise to back up his game-changing ideas. We're thrilled to have him on board and can't wait to see how he's gonna bring to the squad to slash claims and boost performance!🚀✨🎉 Deepanker Mahajan Yogesh Khemani Siddharth Singh Nirvana Mohit Mohan Nimish Mahajan #CoverYou #WelcomeShubham #Leaders

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#AllianceInTheNews Don't miss our latest coverage on the rising cyber threats and the increasing demand for cyber insurance in India. In conversation with Express Computer, Manoj Rane, Sr. Vice President, Practice Head – Liability Vertical at Alliance Insurance Brokers Pvt. Ltd., shares insights on navigating the evolving cyber landscape. Dive into the article for expert analysis and proactive solutions. Read more: https://lnkd.in/dwZwhvV4 #CyberInsurance #AllianceInsuranceBrokers #PavingTheWay

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Insured losses have topped $100 billion for four years straight. Claims litigation is up 50% while jury awards in excess of $10 million have doubled since 2020. Insurance fraud is now a $300 billion-a-year industry. On an engaging episode of InsurTalk, hosted by Guidewire's Chief Evangelist Laura Drabik, the founder and CEO of Guidewire Insurtech Vanguard and 2023 Pitch Day competitor Charlee.ai, Sri Ramaswamy, casts a spotlight on leveraging AI-based predictive analytics to reverse these costly trends and optimize claims outcomes. Listen now! https://lnkd.in/dxG9a7_c #PandCinsurance #predictiveanalytics

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Discover how telematics is revolutionising auto insurance. Dive into the benefits of usage-based pricing, improved risk assessment, and enhanced customer engagement in the article "Telematics in Auto insurance" by Ankush Roy and Sureshkumar Dubagunta. Read it only on The Actuary India 👉  Magazine of the Institute of Actuaries of India https://lnkd.in/dhiMj3AN #Actuaries #Insurance #MotorInsurance #Telematics #TAI Kunj Behari Maheshwari Prakhar Mody Kathan Jain Rajeshwarie VS Anirudh Bansal, FIA, FIAI Ekta Mehta FIA FIAI

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The initial loss from this incident is estimated to be between three to four billion dollars, a staggering amount that highlights the potential financial impact of such unforeseen events. However, it is important to note that these are just initial estimates, and the losses may vary as claims are processed. The #Baltimore #Bridge collapse serves as a wake-up call for individuals and businesses to understand the value of insurance coverage. This #single #incident has triggered claims from multiple parties, including the #carrier, #cargo owners, #cargo #carriers, #bridge owner, #car owners, and other #individuals affected by the collapse. It demonstrates the potential losses that can occur and emphasises the need for #comprehensive #insurance coverage.

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Insurance just got a millennial-friendly makeover with new regulations shaking things up and making coverage a must-have. Buckle up for these exciting changes in the insurance landscape! #GameOn: Enter UBI! Usage-Based Insurance (UBI) is revolutionizing traditional car insurance premiums in India. Millennials, known for their tech-savvy habits, can now get rewarded for safe driving, leading to lower costs; a win-win situation for all. #Goodbye #OneSizeFitsAll: Customization is key! With insurers now encouraged to offer more flexible insurance products, millennials can tailor coverage amounts, payout options, and add-ons to fit their unique needs and lifestyle, making insurance more personalized and relevant. #Future #Focused? Annuities Get a Boost! New regulations incentivizing annuity plans could spark millennials' interest in retirement planning. These plans offer market-linked income streams during retirement, echoing the popular 401K plans in the US and appealing to millennials as they plan for their golden years. #TechSavvySolutions: Streamlined and digital-friendly processes are the new norm. With a push for a more user-friendly experience in the insurance industry, millennials can now obtain quotes, apply for policies, and manage coverage entirely online, aligning perfectly with their expectation for tech-driven solutions. In conclusion, these new regulations are reshaping the insurance industry to cater to millennial preferences: customization, innovation, and a tech-savvy experience. This shift could unlock a new era of policyholders, ushering in a dynamic and customer-centric approach to insurance. Exciting times ahead! #RenewBuy #insurance #IRDAI #Regulations

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Life insurance APE growth moderated to 10.5% y-o-y in August 2024 compared to 16.3% in July 2024. CareEdge analyzes. Full Report: https://lnkd.in/dEwA4qNZ Gaurav Dixit | Saurabh Bhalerao #CareEdgeInsights #CareEdgeRatings #Lifeinsurance #Healthcare #LIC

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The draft Insurance Laws Amendment Bill, pending Cabinet approval, promises to reshape India's insurance landscape. Discover the top 10 key changes aimed at modernizing regulations, enhancing competition, and expanding coverage, all geared towards achieving IRDAI's 'Insurance for All by 2047' vision. This bill is a game-changer for policyholders, insurers, and the Indian economy as a whole. Stay tuned for updates, and get ready for an exciting future of insurance #InsuranceForAll #InsuranceReform #IRDAI #CompositeLicense #FinancialInclusion #DigitalInsurance #EaseOfDoingBusiness #PolicyholderEmpowerment #EconomicGrowth

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#meetthespeaker #leadershipinsights  #expertinsights #speakerspotlight We are delighted to announce that Prasad Krishnamorthy, Vice President - Products, Perfios, will be speaking at the 2nd Annual Insurance Claims & Fraud Detection India Summit 2024 on 23-24 October at the Radisson Blu Mumbai International Airport. Don't miss this opportunity to learn from the best and brightest in the industry!   As part of the core team in Perfios for the past 13 years, he has been an active part of its growth story. He has been working closely with the industry experts and developing multiple solutions across the BFSI space, bringing in his data and technology expertise to usher in true transformation to the business processes. In his current role as the head of Perfios' InsureTech Solutions, he is bringing the core capabilities of Perfios to provide solutions across the Insurance industry. He is a technologist at heart. An Engineering graduate from Madras University, Prasad has spent the last 26 years creating technology solutions to solve real world inefficiencies.   To download conference brochure, click here - bit.ly/3qF33Ec For conference registration, click here - bit.ly/3QGvHiW #InsuranceInnovation #grc #claimsfraud #claimmanagement #claims #claimsprocessing #cyberinsurance #digitalinsurance #FraudPreventionStrategies #futureofinsurance #healthcarefraud #insurance #insuranceanalytics #insuranceclaims #InsuranceCommunity #InsuranceConference #insuranceconsultant #insuranceexperts #insurancefraud #insuranceindustry #insuranceinnovation #insuranceleadership #insurancemarket #insurancemarketing #insurancenews #insuranceprofessionals #insuranceregulation #insurancesolutions #InsuranceSummit #insurancetech #insurancetechnology #insurancetrends #underwriting #insuretech #InsureTechInnovation #lifeinsurance #NonLifeInsurance #PostPandemicInsurance

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**Panel Announcement!** Prasad Krishnamorthy, VP - Products at Perfios, will be joining a panel discussion on the topic 'Embracing Technology: Impact on Claims Processes and Customer Centricity'' at the 2nd Annual Insurance Claims & Fraud Detection India Summit 2024. Alongside industry leaders from HDFC ERGO General Insurance, ICICI Lombard, Zuno General Insurance, and Max Life Insurance Company Limited. Topics to be explored:   🔹 The role of next-gen technology in transforming claims   🔹 Factors shaping the future of claims   🔹 Addressing changing customer demands in a tech-driven world  #Insurance2024 #ClaimsTech #CustomerCentricity #FraudDetection

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In a recent update, our President Vikas Magoo highlighted the expectations, priorities and challenges insurers face in this digitally developed landscape. To have deeper insights, read here: https://lnkd.in/gZJs5yaV #Insurance #Challenges #Priorities #ServiceNow #DigitalTransformation

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#General #Insurance #Council discussed a comprehensive array of initiatives, such as the 'Cashless Everywhere' program, the upcoming 'Bima Trinity', and efforts to simplify policy wordings. These initiatives are aimed at reshaping the critical role of health insurance in ensuring nationwide financial security. 💥Health insurance sector witnessed a commendable premium intake, nearing Rs 1 lakh crores in the fiscal year 2024, reflecting an impressive compound annual growth rate (CAGR) of 20%. 💥Over 50 crore citizens are now benefiting from health insurance coverage, aligning with the ambitious target of "Insurance for All by 2047" set forth by the IRDAI 💥 'Cashless Everywhere' initiative has revolutionized access to healthcare by enabling policyholders to avail cashless treatment at any hospital nationwide. Presently, over 40,000 hospitals are integrated into various insurance networks, enhancing accessibility and convenience for all citizens. 💥Industry settled claims exceeding Rs 75,000 crores, catering to over 2.5 crore claims. With more than 60% of claims settled on a cashless basis and streamlined processes in place, the GI Council is steadfast in its commitment to ensuring friction-free claim settlements for policyholders.

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**Importance of Life Insurance for a Family** **திருக்குறள்:** **"தன்னுயிர் தற்காத்தல் சார்ந்தது பிறருயிர் பொறுத்தல் அதுவே மிகும்."** - திருக்குறள் 312 **Thirukural Explanation:** Securing your own life is essential, but even more important is caring for the lives of others. In the context of modern life, this Thirukural emphasizes the significance of life insurance. Life insurance is a crucial safety net that ensures the financial stability of a family in the event of the unexpected. It provides peace of mind, knowing that your loved ones will be taken care of, covering expenses such as education, mortgage, and daily living costs. Investing in life insurance is an act of love and responsibility, safeguarding your family's future and ensuring their well-being. It allows your family to maintain their standard of living, even in your absence, demonstrating the highest form of care and protection. #LifeInsurance #FamilyFirst #FinancialSecurity #PeaceOfMind #Thirukkural #LoveAndResponsibility 💖🏠👨‍👩‍👧‍👦Bharti AXA Life Insurance

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Unlocking the Power of Technology 🌟 Bharti AXA Life Insurance அறிவு தொழில் இசையறிந்து செய்யும் நன்மைகளை கொண்டு அதிக வேலைசெய்வார்கள் அனைத்தும் திறனால் தாழ்மை பெறுகின்றனர். Understanding the Power of Technology is key in today's corporate landscape. It's not just about gadgets; it's about leveraging knowledge and innovation to drive meaningful change. Technology empowers businesses to streamline processes, enhance productivity, and adapt to evolving market demands swiftly. From AI-driven analytics to cloud computing, it's reshaping industries and opening doors to new possibilities. Embrace Technology to stay competitive, foster growth, and deliver value to stakeholders. Let's harness its potential to innovate, collaborate, and create a brighter future for businesses and society alike. #Technology #Innovation #DigitalTransformation #BusinessStrategy 💻🚀🌐

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Revolutionize Your Coverage: Journey into the Future of Insurance with IFSA SRCC's Innovation Spotlight! Explore the dynamic landscape of Usage-Based Insurance (UBI) in India, from its inception to its burgeoning evolution. Discover the pressing needs met, the myriad benefits unlocked, and the diverse types of UBI offerings reshaping the industry. Delve into cutting-edge monitoring approaches, leveraging UPI technology, and stay ahead of the curve as we illuminate the transformative potential of UBI in the Indian market. Stay tuned for insights that redefine the insurance experience.

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