INNOVATIVE INSURANCE IDEAS
The small town startups driving innovation, backed by STPI
Government IT promotion agency Software Technology Parks of India (STPI), originally started to boost India's private software industry, is now taking on a new challenge - democratising tech innovation and entrepreneurship in tier-2 and tier-3 cities. It's initiatives are boosting startups from these locations to scale new heights and solve Indian challenges.
Irdai proposes to amend regulatory sandbox norms
The Insurance Regulatory and Development Authority of India (Irdai) has proposed changes to its regulatory sandbox, aiming to shift from a rule-based to a principle-based approach. This move seeks to encourage innovation and the introduction of new ideas within the insurance sector. Public comments on the proposed amendments are being sought until November 25th.
TCS signs 10-year partnership with Brazil¡¯s institution Insper; to invest $8.6 million
TCS in a filing with BSE, said, the proposed research initiatives include satellite-based geo-sensing to enhance crop yields, reduce the down time in offshore oil rigs, and using AI to accelerate new drug development.
Women prudent borrowers, aspirational younger generation displays bolder risk appetite: Fintech soonicorns on financial inclusion at ET Soonicorns Summit 2024
India¡¯s data expansion has been phenomenal and instrumental in the financial inclusion of the underserved to a great extent. There, however, remain roadblocks for an integration of the underserved segments. Read what these fintech soonicorn founders had to say about India¡¯s road to financial inclusion¡ªits catalysts and impediments. The discussion was held at a closed-door roundtable on the sidelines of ET Soonicorns Summit 2024.
Increase in surrender value to reinforce customers' faith in life insurance industry: Kotak Life Insurance MD & CEO
People are now buying life insurance for protection, and the increase in surrender value is unlikely to impact the persistency ratio, Mahesh Balasubramanian tells Riju Mehta.
ETSA 2024: ClaimBuddy wins by easing insurance claims pain for all
ClaimBuddy won this year¡¯s Best on Campus category at The Economic Times Startup Awards, for aiming to solve the major issue of making the health insurance claim process more transparent and efficient. ¡°ClaimBuddy is a commitment to ensure that patients receive the care they need without the added stress of navigating complex insurance processes," said Khet Singh Rajpurohit, cofounder of the company.
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Infosys to invest Rs 17 crore in IIT M-incubated spacetech startup GalaxEye
The cash investment will involve Infosys picking up a minority stake, less than 20%, as part of the series A round to pick up equity and compulsory convertible preference shares.
ET 50 Future Unicorns of Karnataka to be unveiled in Bengaluru at the Soonicorns Summit 2024
he Economic Times, in collaboration with research partner Tracxn¡ªa data intelligence platform¡ªis proud to present the ¡®ET 50 Future Unicorns of Karnataka¡¯ report. BV Naidu, the keynote speaker for the ET Soonicorns Summit 2024¡ªIndia¡¯s largest congregation of soonicorns¡ªis set to unveil this report on September 20th, 2024. Book your ticket now to witness this unveiling at India¡¯s largest congregation of soonicorns.
Emerging business leaders of India: 2024
Emerging business leaders in India are making significant strides in 2024, driving growth and innovation across various industries. This article highlights the achievements of Sanket Shah of Deuex Solutions, Anil Bhandari of ARCON, Mohar V of Techved Consulting, and Ani Gopinath of Testhouse, showcasing their impact on the business landscape.
To India with love: boAt founder Aman Gupta to delve deep into product innovation, building a household brand, challenges, and lessons at the ET Soonicorns Summit 2024
Aman Gupta has successfully created a product-driven brand, boAt, with consumer-specific and data-driven strategies. Join us at the ET Soonicorns Summit 2024, on September 20, where Gupta will share his experiences, lessons in resilience, and an overview of the Indian startup ecosystem in a Fireside chat. Do not miss this opportunity to learn from the best in the business and to use these insights for your own brand. Do not forget to register!
ET Soonicorns Summit 2024: From Prayank Swaroop to Umakant Soni, Anand Lunia, Hari Menon, Aman Gupta, and Sangeeta Bavi¡ªregister now to meet veteran investors, innovators, and industry leaders set to forge the future
Unveiling our esteemed panellists as they are set to take the stage at ET Soonicorns Summit 2024, the third edition of a repurposed and revamped summit to be held in Bengaluru on September 20, 2024. Meet the stakeholders who are busy reshaping the startup-innovation economy. Register now!
ET Startup Awards 2024 | Top Innovator: BrainSight AI forces a rethink
Founded in 2020, when the entire health sector was focused on fighting the pandemic, the startup had a tough time convincing hospitals to let it test its hypothesis and explaining the potential upsides of the software to top neurologists in the country.
ET Startup Awards 2024 | Best on Campus: ClaimBuddy stays on pulse to take home campus star prize
The startup that provides digital infrastructure to hospitals for processing insurance claims and assists patients in getting faster pay-outs was praised for its mission to improve a massive pain point for users.
ET Startup Awards 2024: Nominees for Top Innovator
The award will recognise innovations that launch a business or give it a big boost. It should be an original idea that is core to the business or one that provides the differentiation that sets it apart from competition.
The Economic Times Startup Awards 2024: Jury to pick winners on September 11
The ETtech team has been neck-deep preparing for the past few months to bring to you the 10th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the elite jury and nominees for the Bootstrap Champ and Top Innovator categories.
Tech startups innovate to snuff out wildfires
Kodama has raised $6.6 million for a business that is driven by the reality that much of our forestland these days is stuffed with fuel just waiting to ignite. A few hundred miles from Stanislaus, a man drove a flaming car into a ditch in early August and started the Park fire, which burned an area larger than Los Angeles.
Can Bengaluru's traffic problem be solved? Local CEO proposes creative solution borrowed from China
Bengaluru-based CEO Paras Chopra has proposed an innovative solution to the city's notorious traffic congestion, inspired by a service in Beijing. The idea involves a 'rescue' service where, for a fee, a motorbike picks up stranded commuters while another person drives their car to the destination. Chopra shared this idea on social media, prompting a mix of amusement and skepticism
Forget additional 2.5% LTCG, finally it is economy and earnings: 4 midcap stocks from different sectors with an upside potential of up to 37%
The reaction of the street to the increase in both short and long capital gains tax is stronger because it was not expected by any section of the market. Specially, mid caps segment which has been sitting on big gains is the one which is facing more cuts. Today and for may be for some more time this increase would impact the sentiment, but in the long term it is the economy and earning which matters to the street. Now the question is whether the budget is a step in the right direction when it comes to the economy. Forget economists, even anyone on the street has any doubt about it. So while investing, ignore the short term noise and focus on the fundamentals of the company and track record of the promoters.
Major insurance changes in Budget 2024: Combi products offering life, health insurance soon; will insurers sell mutual funds?
Budget 2024 insurance changes: The government is set to introduce a Bill proposing significant changes to the Insurance Act. This could include of composite licenses for the insurance companies that allows life insurers to offer health and general insurance policies, simplifying investment rules, and facilitating easier registration for intermediaries and allowing insurers to distribute other financial products. This would create a more holistic insurance market with insurers offering bundled products catering to diverse customer needs.
Budget 2024: Is a Rs 10 lakh insurance the vitamin India's healthcare system needs?
The Centre is considering doubling the beneficiary base of the Ayushman Bharat health insurance scheme over the next three years, starting with those aged above 70, alongside raising annual coverage to Rs 10 lakh. These proposals are anticipated in the upcoming Union Budget. The interim Budget increased Ayushman Bharat's allocation to Rs 7,200 crore for secondary and tertiary care, with Rs 646 crore for health infrastructure.
The startup story's just starting
For India to ascend to the summit of the world's leading startup ecosystems by 2030, it demands dynamic policies from the incoming government, nurturing a vibrant culture of innovation, and concerted collaboration among all stakeholders. With the requisite elements already in place, including the impressive growth and resilience shown by current startups, valuable lessons abound for budding entrepreneurs. By adopting a progressive outlook centered on enduring, sustainable, and conscientious advancement, our startup ecosystem has the potential to evolve into a remarkably innovative, inclusive, and globally sustainable entity.
Insurance cos to curate policies with flexibility in wordings
Insurance companies in India are adjusting their policy terms, conditions, clauses, and wordings to provide customers with more flexibility in tailoring coverage. This change is expected to be visible in July or October renewals, as it will take time for insurers to implement these changes and develop new policies. The Indian insurance market is now catching up with global standards, allowing more flexibility in pricing and policy design.
Future Generali India Life Insurance appoints Alok Rungta as managing director & CEO
Rungta, currently serving as the Deputy CEO and CFO, will succeed Bruce De Broize, who is the MD & CEO until March 31, 2024.
Very few people think of life insurance as pure protection: Casparus Kromhout, Shriram Life Insurance
"Everybody in India is used to the fact that life insurance is a savings vehicle, or an alternative savings, or an investment vehicle, and very few people think of it as pure protection," says Casparus Kromhout, MD & CEO, Shriram Life Insurance.
Why NFOs by insurance companies should be on NRIs¡¯ investment portfolio
Investing in India is a smart financial move for Non-Resident Indians (NRIs) due to cultural connections and attractive opportunities. New Fund Offers (NFOs) are gaining popularity, providing ground-floor investment opportunities and diversification benefits. Insurance companies' NFOs offer risk-adjusted returns and align with India's economic growth trajectory, making them a wise choice for NRIs.
Bengaluru Tech Summit | Karnataka conducive to India's first agritech sandbox: state govt official
Regulatory sandboxes, which allow for testing of new products or services in a controlled environment where certain relaxations are put in place, currently exist in domains of fintech (Reserve Bank of India-run) and Web3 (Telangana government-run) in the country.
Q4 results this week: LIC, Shree Cements, Vodafone Idea, Sun Pharma, M&M, Nykaa and others
Several popular companies such as ONGC, M&M, Vodafone Idea, HUDCO, Shree Cements, BPCL, LIC, Nykaa, and Hindalco among others, are expected to release their quarterly earnings report later this week. The list of companies to report their results on each day include names such as Ashok Leyland, Sun Pharma, Aditya Birla Fashion and Retail, Grasim Industries, Radico Khaitan, Finolex Industries, and Hindustan Tin Works amongst others, during the period of May 22-27.
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