AND is a significant word here. I’m really not talking about the ‘In Insurance’. If it is “in” we already have Lemonade, you know Lemonade, right? No? okay, here is the article by The Guardian to let you know about how they are using AI to process the claims. 1 claim (more…)
Insurance companies will soon be required to have their new policies examined by a panel of actuaries before they hit the market. This will be in addition to an initial round of screening of the policies which is undertaken by the insurance regulator.
In a circular the Insurance Regulatory and Development Authority (more…)
Insurance regulator Irda has proposed changes in the 16-year old regulations regarding Appointed Actuaries by modifying framework for their appointment and functions.
“Based on the experience gained, since the last amendment effected in the year 2013, the Authority felt that there is a need to amend the IRDA (Appointed Actuary), Regulations, 2000,”
The new standards and guidance are due to take effect from 1 July 2017, and will replace outdated material including Guidance Notes and the current technical actuarial standards (TAS).
These new principles are intended to help actuaries determine what standards to apply to their work wherever they are in the world to (more…)
The U.S. Insurance industry is the world’s largest insurance market where 6,118 companies, employing 2.5 million people, have net annual premiums of $1.1 trillion. Yet, despite its size and overall financial health, the insurance industry is likely to experience profound change driven by a fast growing and ubiquitous force – The (more…)
We launched our Android app some time ago and and found out that yes, it is necessary to go appy! Thou, the downloads aren’t million just 500, but we don’t want only to keep expressing our views and make it a one sided journey.
What if we both get along with each another (more…)
The Summary is completely based on research paper by Martin Eling & Jan Hendrik Wirfs.
I read the paper so I summarized it and you’ll find examples with Youtube videos(wherever possible) so as to make sure the approaches they have used are understandable to everyone. The paper contains total of 24 pages which you (more…)
The infrastructure, the users, and the services offered on computer networks today are all subject to a wide variety of risks posed by threats that include distributed denial of service attacks, intrusions of various kinds, eavesdropping, hacking, phishing, worms, viruses, spams, etc. In order to counter the risk posed by these threats, (more…)
In our previous article titled “What is the reality of the Chief Data Officer role within the insurance sector?”, we were joined by leading Chief Data Officers and Chief Analytics Officers who provided their thoughts on the status of data and analytics leadership and transformation within this industry. In the report, (more…)
The Institute and Faculty of Actuaries (IFoA) has played an active role in informing the EU Referendum debate. Derek Cribb, Chief Executive of the IFoA, comments on the resulting Leave vote.
In a press release the Institute of Faculty of Actuaries (IFoA), CEO Derek Cribb explains how they will be summing up (more…)
A brief intro of Brexit-
British withdrawal from the European Union, often shortened to Brexit (a portmanteau of “British” or “Britain” and “exit”), is a political goal that was pursued by various individuals, advocacy groups, and political parties since the United Kingdom (UK) joined the precursor of the European Union (EU) in 1973. Withdrawal (more…)
People they there is nothing except Insurance. I’ve always dreamt of making it more than that, doing more than insurance and pensions. This is exactly complementary to my article on Insurance & Entrepreneurship. A must watch video to look at different aspects of what “else” you have power to do.
Douglas Hoto, an (more…)
The Insurance Regulatory and Development Authority of India (IRDAI) has tightened norms relating to Appointed Actuaries (AA) in insurance companies.
If there is no appointed actuary, the regulator will not approve new products.
“If there is no appointed actuary for a considerable period of time, say, more than one year, the companies will (more…)
Policyholders are likely to get better returns on their life insurance policies from April as the regulator has asked insurers to bring down their overall expenses.
In its exposure draft, the Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to bring down their overall expenses limit for various categories (more…)