DIGITAL INSURANCE MARKETPLACE
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.
Better to own a set of stocks from the digital ecosystem rather than betting on one stock? 15 stocks with upside potential of upto 48%
Few day’s back there was an issue with the telecom provider and the services stopped for some time. Now which would be the companies which got impacted the most, the telecom service provider, the answer is no. As a customer one would not get any reduction in the monthly billing because services were down for some time. The companies which may have got impacted would be a platform company on which one orders food, such as a swiggy or zomato. The reason, in the peak time of demand, a customer is not able to order food online due to internet service being down, that demand will not come back when the internet is back. But the other platform company which sells insurance was also not impacted. The reason is, if one was planning to buy an insurance policy and there is no internet, the demand will get postponed not get extinguished. The digital ecosystem is making things simple but it is yet complicated when it comes to investing.
Genesys International set to launch its AI-powered maps
Genesys International is set to launch AI-powered navigation maps for the mobility markets, featuring a navigable road network in India covering 8.3 million kilometers and over 30 million points of interest.
RBI cracks down on payment frauds; layoffs at Simpl
The central bank is setting up a panel headed by former NPCI chief Abhaya Hota to take on payment frauds. This and more in today’s ETtech Top 5.
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.
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RBI, payment industry meet discusses contours of new draft PA guidelines
The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withdrawing from the domestic payments market in India.
Airtel's $100b market capitalisation reflects a stable economy under a solid leader: Sunil Mittal
Sunil Bharti Mittal, Chairman of Bharti Enterprises, emphasized that Airtel's resurgence post the challenges posed by Reliance Jio's entry and the AGR ruling showcased India's stable economy and supportive policies under strong leadership. Reflecting on Airtel's path to the $100-billion milestone, Mittal highlighted the company's resilience amidst industry disruptions. He noted that Airtel's achievement as the first-generation Indian company to reach this milestone was significant, especially considering the competitive landscape.
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.
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.
Atlan’s valuation nearly doubles; decoding PB Fintech’s FY24 financials
Data collaboration software startup Atlan has raised $105 million at nearly double the valuation since its last round. Details on this and more in today’s ETtech Top 5.
Strategy reset under new Tata Digital boss; subscription play for Ola, Uber autos
Handpicked by Tata Sons chairman N Chandrasekaran from their insurance arm, Tata AIA Life, Naveen Tahiliyani is fostering a collaborative spirit at Tata Digital and encouraging participation from other group companies, officials told ET. Meanwhile, Chandrasekaran is keeping a close eye on his progress.
Major changes in insurance regulations — new health insurer Galaxy Health, Bima Sugam, more protection for policyholders
IRDAI has approved eight principle-based regulations at its recently held board meeting. The primary ones include Bima Sugam — an online marketplace for insurance policies, product regulations regarding the surrender charges of the insurance policies, and regulations for the protection of policyholders. All you need to know
Bima Sugam approved: Insurance policies set to be more affordable; buying policies, claim-settlement to be easier
IRDAI has approved the proposal to set up Bima Sugam — an online insurance marketplace. From buying insurance policies to renewals to claim settlement to portability to grievance redressal — Bima Sugam aims to provide an 'end-to-end' digital journey to all policyholders. What is Bima Sugam? How will Bima Sugam benefit insurance policyholders? All you need to know
Galaxy Health gets nod to launch health insurance business, IRDAI also okays setting up of insurance e-marketplace
IRDAI approved Galaxy Health led by V Jagannathan. Star Health had a Rs 618 crore net profit. IRDAI introduced Bima Sugam, likened to ONDC by Debasish Panda, for insurance activities.
IRDAI proposes extended free look in period to enhance policyholders interest
IRDAI proposes extending the free look period for life and health insurance policies. Draft regulations aim to consolidate regulations, relax norms, introduce nomination provisions, and facilitate insurance transactions through a not-for-profit digital marketplace called Bima Sugam.
Irdai proposes to set up online marketplace 'Bima Sugam'
Irdai has invited comments on the draft Insurance Regulatory and Development Authority of India (Bima Sugam -- Insurance Electronic Marketplace) Regulations, 2024. The deadline for submitting comments is March 4. Stakeholders are encouraged to provide feedback on the proposed regulations for the online insurance market place.
Bima Sugam: IRDAI's draft regulations on one-stop online shop for all insurance policies
The Insurance Regulatory and Development Authority of India (IRDAI) has released draft regulations for the electronic insurance marketplace, Bima Sugam, or a digital public infrastructure.
PB Fintech to consider returning capital to shareholders: Yashish Dahiya
A formal decision in this regard, however, will be made only after discussions with the board and consent from shareholders, he added.
December dip in online sales; insurtech firms chart fresh growth paths
After an expected spurt during the festive season, ecommerce sales saw a larger-than-usual dip in December. This and more in today’s ETtech Morning Dispatch.
Digital lending at an inflection point, and other top tech, startup stories this week
The digital lending sector in India is experiencing an inflection point after years of challenges. Industry-level NPAs are decreasing, credit demand is increasing, and investors are showing interest in the sector again. Fintechs have dominated the unsecured lending space, with the market share of fintech lenders in the personal loans sector increasing from 13% in 2018 to 47% in 2023.
Decoding InsuranceDekho’s back-to-back funding rounds amidst a funding winter
Amidst a funding winter, when startups are having to go the extra mile to justify every dollar of their valuation, InsuranceDekho stood out.
Tata group’s B2B digital push; banking agents expand into credit, insurance
Business correspondents (BCs) are being roped into the government’s financial inclusion plans in a big way. Besides providing traditional services such as account opening and payments, these last-mile banking intermediaries have now ventured into more complex areas like credit and insurance. This and more in today’s Morning Dispatch.
ONDC eyes entry into financial services with credit, insurance products
An ecommerce trends report launched by Shiprocket noted that consumer spending in India is expected to exceed $4 trillion, clocking a compound annual growth rate of 10%.
PhonePe taps merchants in big lending push
After its planned acquisition of ZestMoney fell through, PhonePe is focussing on merchant lending. After a pilot with some 20,000 disbursed loans, it is now going live for its entire merchant base.
Walmart takes fintech plunge into Mexico's risky marketplace
Walmart de Mexico (Walmex) in April said it had bought Trafalgar, a payment app, to compete in a market dominated by Grupo Salinas' Baz, Oxxo's Spin and MercadoPago of MercadoLibre.
Digital insurance market Policygenius to be acquired by Eldridge's Zinnia
Backed by Eldridge, the investment firm founded by Todd Boehly, Zinnia uses technology to make the servicing and processing of life insurance and annuity business more efficient.
Edtech firms join forces to set rules; Tata’s new financial marketplace
India’s top edtech firms are joining forces to implement a self-regulatory code on how they do business in the country. Tata Digital has set up a fintech arm to compete better with Amazon and Reliance.
Tata Digital sets up financial marketplace entity
Tata Fintech, which is expected to function as a financial marketplace offering multiple financial products and a new retail payments gateway to its consumers under a single roof.
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