“The industry has typically operated on the backbone of agents and back-channels. Direct business in insurance contributes less than 10 percent to the overall business. The video-based process leverages these relationships rather than replace it,” said Wriju Ray, cofounder of IDfy. … [Read more...] about EXCLUSIVE: IRDAI to permit video-based KYC system for insurance companies
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Among the listed insurers, ICICI Prudential Life Insurance saw a 14.5 percent YoY decline in new premium to Rs 892.31 crore in August. HDFC Life Insurance saw a 44.7 percent YoY increase in new premium to Rs 1,903.96 crore, while SBI Life saw a 26 percent YoY growth to Rs 1,805.8 crore. … [Read more...] about Signs of normalcy: Life insurers post 15% rise in new premiums in August
Here's all you need to know about the new process:Insurers will send the policy document and a copy of the proposal form through digital means. This will be sent to the registered e-mail id or mobile number provided by the customer only on the specific consent provided by the policyholder.The policyholders will need to be informed through SMS that the policy document or copy of the proposal form have been sent to their e-mail id or any other digital or electronic mode.A proper mechanism must be put in place by insurers in order to ensure that the documents are sent to the right email address and phone number. This could include an acknowledgment that is appropriately obtained or auto-collected on delivery.When documents are forwarded by electronic means, the mechanism of policyholder having received the document or the electronic platform having delivered the documents shall be maintained. It shall be clearly informed to the policyholder that the date of delivery of the … [Read more...] about COVID-19 impact | Now buy health, auto insurance online: Check out the process and documents needed
Because France’s election silence laws also ban campaign news in the 48 hours before people vote, most French news outlets did not cover the hacked emails. While Facebook removed attempts by Russian hackers to post the emails, blogs picked up other articles about the emails and then published posts about them on the social network. Many people also posted about what they had read. … [Read more...] about Why Facebook’s blocking of new political ads may fall short
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine. … [Read more...] about COVID-19 | Manhattan’s office buildings are empty. But for how long?