Insurance 101

Running a financial protection agency like insurance can be a daunting task. There are a lot of variables involved. What helps is tracking them. Numbers always rule the game, right? They can also work in your favour. Quantitative analysis helps you be aware of your current standing in the market as well as the big […]

Key Takeaways Digital engagement is an indefinite term for connecting with the audience using technical aids such as websites, apps, social media, email, etc. It enables operational efficiency by reducing operational costs and amplifying retention rates.  Recognizing the pain points of the customers, grossing customer data, offering personalised products, digitalisation, etc. are a few utilities

Key Takeaways  Fraud detection has evolved over the branches of transparent detection and interactive challenge (aka CAPTCHA). Botnets that formerly included only a few bots are now controlling thousands of bots and use digital techniques and advanced header signatures to surpass protections Defenders have migrated to PoW and headless signatures to suppress the reach of

Key Takeaways Risk management aids businesses to evaluate and forecast potential risks. Identification, analysis, ranking, treatment and monitoring are the five steps of risk management. The faster a business identifies risks, the more time it has to mitigate the risk.  Risk assessment helps narrow down the risks that need instant attention. To attain a holistic

To understand the impact of APIs on insurance, let’s first familiarise ourselves with the concept of API and how it has become a universal tool in its short lifespan.  In today’s segment, we will obtain a brief insight into the functioning of APIs and explore the many phases of evolution that it has undergone. This

Insurance in India is a legacy of the British. With the establishment of Oriental Life Insurance in 1818, India was familiarised with the concept of insurance. By the 1950s, Indian insurance gradually turned into a major service sector with about 154 Indian and 16 non-Indian companies. This naturally led to cut-throat competition for power and

Key Takeaways Insurance premium amount is subject to increment with an increase in the risk factor. Customers can reduce such eventual increases by maintaining a low claims history, a good driving record and by avoiding lapses in insurance coverage. It is beneficial to adopt an insurance plan at a young age to attract lower premium

Key Takeaways Once you’ve decided to buy a particular insurance policy from an insurance company, the company will agree to insure you upon filling up the proposal form and all details as requested. This is known as offer and acceptance. Legal consideration refers to the value of the premium or future premiums that the buyer

Key Takeaways The IRDAI or the Insurance Regulatory Authority of India was established in 1999 and it is an autonomous, statutory body responsible for regulating the insurance sector in India. You might wonder, that though the IRDAI is there to protect the policyholders, who keeps an eye on IRDAI? That’s where the Insurance Advisory Committee