The insurance industry is undergoing a remarkable transformation worldwide with the adoption of newer technologies like artificial intelligence and machine learning. The Indian insurance industry is also going through an exceptional revolution driven by changing customer demands, tech advancements, and evolving regulations. Integrating advanced technologies like artificial intelligence is addressing some of the common challenges […]
General Insurance
How Does Inflation Impact Your Insurance Premiums?
Overview Inflation directly influences insurance premiums by increasing the cost of claims settlement, repair expenses, healthcare, and replacement of insured items. As the value of money decreases, insurers adjust premiums upward to maintain adequate coverage and ensure financial sustainability. This applies to health, motor, property, and life insurance policies. Inflation has a wide-reaching impact on […]
The Easy Way to Compare Insurance Policies Online
Digitalisation in the insurance sector has transformed the way insurance policies are purchased, empowering the buyer to make an informed decision with minimal effort. The process of buying insurance online is efficient, and streamlined. Comparing policies online offers several advantages such as convenience, effortlessness, cost-effectiveness, greater transparency, comprehensive and customised coverage, flexibility, and access to […]
What is Offshore/Energy insurance?
Energy insurance is a type of insurance that helps protect against potential financial losses and liabilities associated with working in the energy industry. This can include coverage for property damage, personal injury, environmental contamination, and other things. Introduction The 2005 hurricane season was particularly devastating for the offshore energy sector in the Gulf of Mexico. […]
Difference Between Insurance Policy and Consequential Loss Policy
Overview Difference Between Insurance Policy and Consequential Loss Policy An insurance policy typically covers direct losses or damages to physical assets such as buildings, machinery, or inventory. In contrast, a consequential loss policy, also known as a business interruption policy, protects against financial losses arising indirectly due to an insured event — such as loss […]
Solar Module Performance Warranty (SMPW) Insurance
Installing solar panels is an excellent way to eliminate power bills and use clean energy to power the space. Thus, it is crucial to protect your investment through a solar panel insurance policy so that you can get the most value from solar panels. Like all warranties, solar module warranty, and panel warranties protect the […]
Key Differences between Life, Marine and Fire Insurance
Life insurance, fire insurance, and marine insurance are three different types of insurance policies that provide protection against different types of risks. Life insurance is a contract between an insurer and the insured party that provides financial support to the insured party’s beneficiaries in the event of their death. The policyholder pays a premium to […]
How to compare insurance quotes? Things to remember
Whatever insurance policy that you buy, you have to pay a premium for the same. Premium is the consideration that is paid for the insurance contract. It is like the cost of securing the coverage. The premium for insurance policies is not the same across insurance companies. Every company has its own pricing policy determined […]
Why are the Insurtechs making Rapid Inroads?
The traditional insurance operating model is an extraordinarily robust one that operated for a long period of time. However, it is starting to experience the digital impact as well. It is altering the delivery of services and products, as well as the structure of those services and products, and even the operating model itself. In […]
Augmenting role of Social Insurance
Guest Contributor: Himanshu Kalra E-mail: himanshukalra@outlook.in Disclaimer : Views expressed in the article are solely of the author. Unemployment in America rose higher in three months of COVID-19 than it did in two years of the Great Recession. It recorded 14.7% unemployment rate in April 2020 which is highest in the country in post – […]