DIGITAL INSURANCE
![Rise in cyber threats make companies go for unified security command](https://img.etimg.com/thumb/msid-111396990,width-100,height-75,resizemode-4/jobs/hr-policies-trends/rise-in-cyber-threats-make-companies-go-for-unified-security-command.jpg)
Rise in cyber threats make companies go for unified security command
As the digital world expands, demand for cybersecurity leaders grows. Organizations recognize cyber risks can lead to financial losses, reputational damage, and threaten public safety. This surge drives demand for cyber insurance across sectors like finance, healthcare, and technology. Senior cybersecurity roles are crucial, requiring deep technical knowledge, business acumen, and skills in regulatory compliance.
![Only 3% of India’s 62 million business owners have SME insurance: ICICI Lombard’s Anand Singhi](https://img.etimg.com/thumb/msid-111333380,width-100,height-75,resizemode-4/small-biz/sme-sector/only-3-of-indias-62-million-business-owners-have-sme-insurance-icici-lombards-anand-singhi.jpg)
Only 3% of India’s 62 million business owners have SME insurance: ICICI Lombard’s Anand Singhi
Our focus on end-to-end risk management for MSMEs through various tailored digital solutions makes us different, says Anand Singhi, Chief of Retail and Government Business at ICICI Lombard.
![Truecaller, HDFC ERGO tie up for insurance product to safeguard subscribers from digital frauds](https://img.etimg.com/thumb/msid-111314153,width-100,height-75,resizemode-4/industry/banking/finance/insure/truecaller-hdfc-ergo-tie-up-for-insurance-product-to-safeguard-subscribers-from-digital-frauds.jpg)
Truecaller, HDFC ERGO tie up for insurance product to safeguard subscribers from digital frauds
Caller identification app Truecaller on Thursday said it has collaborated with general insurance company HDFC ERGO for an offering that aims to safeguard subscribers against digital communication frauds in India. Truecaller in a release said that amid rising cases of cyber fraud, the insurance offering underscores its commitment to combating fraud and ensuring user protection through advanced app features - before, during and after mobile communication.
![Have conviction in India story, want to be fully present: Zurich Insurance Group's Tulsi Naidu](https://img.etimg.com/thumb/msid-111212589,width-100,height-75,resizemode-4/industry/banking/finance/insure/have-conviction-in-india-story-want-to-be-fully-present-zurich-insurance-groups-tulsi-naidu.jpg)
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.
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Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
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DICGC needs more resources
The Deposit Insurance and Credit Guarantee Corporation (DICGC) needs to increase its reserve ratio, manage treasury proactively, and upgrade its digital infrastructure to meet future payment obligations, as per a research paper in the RBI bulletin.
Go Digit hits second year of profit in FY24, shares surge
The company's shares were up nearly 10% in the early trade on Wednesday, the stock closed at Rs 341,75, up 1% from the previous day. In the last quarter of FY24, Go Digit reported Rs 2,336 crore worth of gross premium collected, up 19.4% from Rs 1,955 crore in the prior quarter. For the full year, the company collected Rs 9,016 crore in premiums, marking a 24% rise from Rs 7,243 crore in FY23.
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.
Motor insurance rule change: No arbitrary claim rejection, quicker claim settlement, pay as you drive option must, says IRDAI
Motor Insurance New Rules by IRDAI: The Insurance Regulatory and Development Authority of India (IRDAI) has updated the master circular clarifying important rules for motor insurance policyholders. The regulator has proposed the implementation of strict timelines for claim settlements of auto insurance policyholders. It is a crucial step towards improving efficiency and customer satisfaction. Another key change is the introduction of a customer information sheet (CIS) for auto insurance policies to enhance customer awareness.
Go Digit shares rally 10% after reporting Q4 PAT soars 104% YoY
Go Digit General Insurance shares surged 10% to a record high of Rs 372.35 after reporting robust Q4 results. PAT soared 104% YoY to Rs 53 crore. Q4 gross written premium rose nearly 19% YoY to Rs 2,336 crore. FY net profit jumped 405% to Rs 182 crore, with gross written premium up 24.5% YoY to Rs 9,016 crore.
Stocks in news: IndiGo, Go Digit, Castrol India, IOL Chemicals, Wipro
Domestic markets stabilize post-elections. IndiGo stake sold. Go Digit reports profit. Wipro rolls out Lab45 AI Platform. Icra receives demand order. NHPTL approves share transfer. TCS launches IoT lab. IOL Chemicals gets CEP certificate. Castrol MD change. TVS signs contract.
Go Digit Q4 Results: PAT jumps 104% YoY to Rs 53 crore; gross written premium up 19%
The net profit stood at Rs 182 crore for the full financial year as against Rs 36 crore in FY23, recording a 405% jump. The gross written premium for the full financial year stood at 9,016 crore versus Rs 7,243 crore in FY23.
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore through a block deal. Blackstone holds 55.45% in Mphasis. Mphasis specializes in cloud and digital solutions.
SAS India business to grow faster than other markets, top executive says
The company aims to upgrade its 400-odd customers to its generative AI platform SAS Viya over the next one year, Riad Gydien, executive VP and chief sales officer at SAS, told ET.
IRDAI cracks down on fraudulent tele-callers; Check list of TRAI-assigned phone numbers insurers must use for customer calls
The IRDAI has instructed insurance companies and insurance intermediaries not to call customers from a standard 10-digit mobile number in an effort to take harsh measures against fraudulent telecallers.
AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
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.
Go Digit to debut at the bourses today; here's what GMP signals ahead of listing
The Go Digit IPO garnered a robust reception, with the company's shares commanding a premium of Rs 25 in the unlisted market. Demand for the issue surged nearly 10 times by the close, fueled by strong interest from both retail and institutional investors.
Go Digit Insurance lists at 5.15% premium over issue price
Shares touched a high of ₹314 during the day, before closing at ₹305.65. The company's market capitalization on Tuesday was ₹28,034.29 crore at close. The ₹2,614-crore IPO been subscribed over 9 times on its final day of bidding.
Go Digit sees moderate listing, but analysts project optimism. What investors should do
Analysts said Go Digit's position as the fastest-growing private non-life insurer by GWP in India positions it for continued success in the insurance market. The company's advanced technology platform and focus on innovation bode well for its future.
Go Digit share price jumps 9% after muted listing
Following its listing on Thursday with a modest premium of 3.35% at Rs 281 over its issue price of Rs 272, shares of Go Digit General Insurance continued to rally, surging another 9% to reach the day's high of Rs 305.85.
Virat Kohli-backed Go Digit debuts at 5% premium over IPO price
Go Digit's shares listed on NSE and BSE at a premium. The stock debuted at Rs 286 on NSE and Rs 281.1 on BSE, with strong interest from buyers.
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.
Go Digit General Insurance IPO subscribed 9.6 times
The Bengaluru based insurtech startup saw the retail portion subscribed 4.3 times, non institutional investors subscribed 7.2 times while qualified institutional buyers subscribed to the IPO 12.5 times. The Fairfax backed startup is looking to go public at a valuation of $3 to $3.2 billion
Go Digit Insurance IPO: Retail portion fully booked even as overall demand remains steady on Day 1
Virat Kohli bought 2.66 lakh shares of the company for Rs 2 crore in 2020, while Anushka Sharma invested 50 lakh through a private placement. Currently, Go Digit IPO GMP is Rs 45, slightly lower than the previous week.
Go Digit Insurance IPO subscribed 79% on Day 2, retail portion booked 254%. Check GMP, other details
Go Digit Insurance's IPO was subscribed 79% on the second day of the bidding process. The retail portion was fully subscribed at 2.54 times, while the non-institutional investors' portion reached 0.73 times. Qualified institutional buyers' quota was subscribed 0.24 times.
Go Digit Insurance Rs 2,615 crore IPO retail portion fully subscribed
The IPO, priced between Rs 258 to Rs 272 per share, will close on Friday. The company had reserved 9.6 million shares for retail investors.
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