DIGIT INSURANCE CEO
Why can your insurance claim get rejected & how to avoid it?
All health insurance policies have a life-long renewal clause which the regulator has mandated. They cannot be rejected and your pricing cannot go up purely because you have a condition right now. So, certain benefits are inbuilt and benefits that the customer can take, says Deepak Yohannan, CEO, MIC Insurance Web Aggregator
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
NIIT appoints Pankaj Jathar as CEO
Jathar has experience in consumer-focused businesses, spanning e-commerce, startups and D2C ventures. He will be responsible for capitalising on new opportunities through the integration of GenAI to drive innovation and growth, the company said in a statement.
BFSI captives hunt for leadership talent
Executive search firms ET spoke to said candidates from product organisations are tapped for technology hiring, and for non-technical roles, domain and functional expertise remain paramount. Compensation ranges at around Rs 1 crore for those with 18-25 years of experience. For CFO roles, packages could be in the range between Rs 2-4 crores.
Have conviction in India story, want to be fully present: Zurich Insurance Group's Tulsi Naidu
Zurich Insurance Group has acquired a 70% stake in Kotak General Insurance, making it the largest foreign investment in the insurance sector and the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% in 2021. The company's CEO, Tulsi Naidu, believes that owning and operating their own business is essential in a significant market like India. The company has considered investing in India for a long time, especially after the liberalisation of FDI rules.
Unpacking Go Digit’s earnings; PEs in IPO-bound firms
Go Digit General Insurance reported its second consecutive full year of profit in fiscal 2024. This and more in today’s ETtech Top 5.
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PNB MetLife names Sameer Bansal new MD and CEO
PNB MetLife India Insurance has appointed Sameer Bansal as the new managing director and chief executive, effective July 1. Bansal, with over 25 years of financial services experience, succeeds Ashish Srivastava. Srivastava will now head New York-based MetLife Inc’s global shared services team in India. The appointment is subject to regulatory approvals.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
G20 Sherpa Amitabh Kant lauds India's digital transformation journey in 9 years
India has made significant strides in digital transformation over the past nine years, with a 96% reduction in data costs and a 1.4 billion people now having a unique digital identity (Aadhar). This has led to greater access and usage of digital services across the country. India's Unified Payments Interface (UPI) has seen exponential growth, contributing 46% of the global share in real-time digital payments.
Health insurance claim rule change: Cashless claims must be cleared in 3 hours; insurer to pay hospital charges for delay in discharge, says IRDAI
Health insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular to streamline health insurance claim process. Previously, delays in claim approvals forced patients to stay in hospitals longer. Now, insurers have three hours to approve cashless discharge requests. Additionally, insurers will be liable for extra hospital charges due to delays.
Global capability centres lease 17% more space in FY24
Global capability centres (GCCs) increased their space usage by 17% in FY 2023-24, reaching 22.5 million sq ft, driven by engineering, BFSI, and technology sectors, according to CBRE. GCCs are a key driver in India's office sector, projected to lease 40-45 million sq ft by 2025, with India hosting over 1,900 GCCs.
How Jocata is helping financial services industry move from legacy systems to AI-powered solutions
Jocata’s low-code platform is driving the future of enterprise lending and embedded finance, says Prashant Muddu, Managing Director & CEO.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
Expect significant growth from insurance income this year: City Union Bank MD
City Union Bank, led by N Kamakodi, aims for significant growth in insurance income to Rs 55 crore in FY'24, with a PAT of Rs 1,016 crore and NIM within guidance levels.
The super app bandwagon; Tata Digital revamped
Happy Tuesday! Traditional financial services firms are the latest to launch so-called super apps. This and more in today’s ETtech Morning Dispatch.
Go Digit IPO opens; quick commerce boost for FMCG firms
Go Digit General Insurance launched its Rs 2,615 crore initial public offering (IPO) on Wednesday. More details on this in today's ETtech Top 5.
Ankush Aggarwal returns to Ola Cabs; declining H-1B visas for IT staff
Happy Tuesday! Ola Cabs founder Bhavish Aggarwal’s brother Ankush is back at the ride-hailing business. More on this in today’s ETtech Morning Dispatch.
Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
Digit IPO coming soon; TCS’ Krithivasan earnings
Bengaluru-based insurtech startup Go Digit General Insurance has announced that its IPO will open on May 15 and close on May 17. This and more in today’s ETtech Top 5.
Happiest Minds makes third acquisition for $8.5 million
This is the third acquisition for the Bengaluru-based IT services firm in FY25 so far with two acquisitions PureSoftware Technologies and Macmillan Learning India announced in April.
Old guard is out as Tata Digital’s new CEO revamps deck
Tata Digital undergoes significant senior management changes under CEO Naveen Tahilyani, impacting the team behind Tata Neu superapp. Several executives from the original team that launched supperapp have now left.
RBI allows Ujjivan Small Finance Bank to rope in former SBI veteran as MD & CEO
The Reserve Bank of India has approved Sanjeev Nautiyal as the Managing Director & CEO at Ujjivan Small Finance Bank for three years, effective from July 1, 2024. Nautiyal, with over three decades of banking experience, will hold the position of President before officially assuming his role, subject to shareholder approval. Ujjivan praised Nautiyal's leadership qualities and strategic retail banking expertise, expressing confidence in his ability to further the bank's mission of financial and digital inclusion.
Fin inclusion, digital growth to drive payments bank momentum in India: Airtel Payments Bank CEO
Airtel Payments Bank CEO Anubrata Biswas is optimistic about the growth prospects of payments banks in India, driven by financial inclusion initiatives and rapid digital growth. Airtel Payments Bank has seen significant growth in users, revenue, and profits in FY24 and has nearly 500,000 banking points nationwide. The bank offers digital banking solutions and financial services targeting urban, rural, and business segments.
PhonePe poured bulk of Rs 800 crore investments into insurance business
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
Tata Digital CEO steps up focus on lowering costs
Naveen Tahilyani, handpicked by Tata Sons chairman N Chandrasekaran from the group's insurance business Tata AIA Life Insurance, has been tightening spends at the digital ecommerce entity and bringing a more data-driven operational strategy to the table. Since his appointment in February, Tahilyani has been guided closely by Chandrasekaran, who is keen to push Tata Neu.
Tata Digital CEO steps up focus on costs, business cohesion
Naveen Tahilyani, handpicked by Tata Sons chairman N Chandrasekaran from the group's insurance business Tata AIA Life Insurance, is also bringing in a collaborative mindset to smoothen operational glitches and boost participation from group companies, company sources said. Since taking up the new role in February, Tahilyani is being guided closely by Chandrasekaran, who is keen to see the consumer app gain a stronger foothold before seeking any external investor interest.
Paytm CEO meets RBI officials; Nykaa doubles Q3 profit
In an attempt to address regulatory concerns, Paytm founder and CEO Vijay Shekhar Sharma, along with the firm's executives, met officials of the Reserve Bank of India (RBI) on Monday. This and more in today’s ETtech Top 5.
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