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Tata AIA Life Insurance launches service for claim payouts within four hours -

Private life insurance firm Tata AIA Life has launched ‘Express Claims’, a service where claims will be paid out within four hours of it being registered. In case of death claims, the nominee, as per the process, needs to file the claim by filling the form with the death certificate and the nominee’s KYC details like Aadhaar Card, PAN card and bank account number. Yusuf Pachmariwala, Executive Vice President and Head of Operations, Tata AIA Life said policyholder families will have immediate access, even within four hours, to the claims amount. For availing the express claim, the beneficiary has to visit the nearest branch with the necessary documents like the death certificate and nominee...

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AM Best Affirms Credit Ratings of Oxford Life Insurance Company and Its Subsidiaries, Business Wire

OLDWICK, N.J.--( BUSINESS WIRE )--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), which are collectively referred to as Oxford Group. The outlook of these Credit Ratings (ratings) is positive. Concurrently, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” of North American Insurance Company (Madison, WI). The outlook of these ratings is stable. These companies are owned by the group’s ultimate parent, AMERCO [NASDAQ: UHAL], which is also the...

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Craig DeSanto Elected New York Life President by Board of Directors, Business Wire

NEW YORK--( BUSINESS WIRE )--New York Life announced today that Co-Chief Operating Officer Craig DeSanto, 43, has been elected president of America’s largest mutual life insurance company by New York Life’s Board of Directors, effective immediately. The role of president has been held by Chairman and CEO Ted Mathas, who assumed the role when former President John Y. Kim retired in 2018. Mr. DeSanto continues to report to Mr. Mathas. With his promotion to president, Mr. DeSanto will oversee all businesses of the company, including the Individual Life Insurance and Agency Distribution units, as well as Retail Annuities, New York Life Investment Management, and the company’s portfolio of...

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Global Life Insurance Market Expected to Reach Highest CAGR by 2025 Top Players: ACE Insurance, Achmea, AEGON, AIA Group, AlfaStrakhovanie, Allianz Cole of Duty

A new market intelligence report documentation has been added with extensive research elements, evaluating the diverse growth propellants in the Global Life Insurance Market. The report is a mindful representation of robust research activities undertaken by in-house research experts who have critically imbibed the output of various primary and secondary research endeavors in a bid to comprehend the impact of COVID-19 reflected upon the growth trajectory of the Life Insurance market. Owing to the sudden onset of dynamic macro-economic factors such as the outrage of COVID-19, the Life Insurance market has been thoroughly affected by the current developments, thus manifesting in a myriad...

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Verisk Launches Life Risk Navigator Software Platform Nasdaq:VRSK

Verisk Launches Life Risk Navigator Software Platform Leading-edge life risk modeling suite now available in Life Risk Navigator Jersey City, NJ, July 20, 2020 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK ), a leading data analytics provider, today announced the release of Life Risk Navigator , an innovative, cloud-based stochastic risk modeling platform that offers in-depth portfolio analytics which can enhance risk selection, quantify changes in mortality rate, improve hedging strategies, and drive better financial decision-making. The cutting-edge analytics provided by Life Risk Navigator are driven by Verisk’s Life Risk Models, a comprehensive set of probabilistic risk models that...

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Omniscience Technology Chosen by Major Japanese Life Insurance Company, PICANTE Today - Hot News Today

Sompo Himawari Uses Omniscience Artificial Intelligence as Part of new Consumer Service PALO ALTO, Calif.–(BUSINESS WIRE)– #Insurance –Omniscience today disclosed that Sompo Himawari Life Insurance Company has adopted Omniscience artificial intelligence (AI) technology as part of a new consumer service. This Omniscience technology is an important onramp for Computational Insurance™. “An entirely new business model is needed for the insurance industry which faces challenges and stresses from more directions than ever before,” said Pallavi Ramnarain, Omniscience Vice President of Business Development & Strategy. “The ability to use, verify, and manipulate every...

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Omniscience selected by Sompo Himawari Life Insurance

The Omniscience technology is expected to offer the insurer the ability to retrieve Japanese language health screening data from images, helping it to understand its customers in a much better way Sompo Himawari selects Omniscience’s AI technology. (Credit: Pixabay/Lawrence Monk) Omniscience, a US-based company to enable Computational Insurance business, announced that its artificial intelligence (AI) technology has been selected by Sompo Himawari Life Insurance, a Japanese insurance company. Omniscience AI technology was selected by the Japanese insurer as part of new consumer service and it is an important onramp for Computational Insurance. Sompo Himawari deploys Omniscience AI...

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IDBI to sell 27% stake in IDBI Federal Life Insurance to JV partners

Ageas will acquire an additional stake of 23% while Indian private sector bank Federal Bank will add another 4% in IDBI Federal Life Insurance IDBI Bank to reduce stake in IDBI Federal Life Insurance. Arunvrparavur/Wikimedia Commons. India-based IDBI Bank said that its board of directors has approved the sale of a 27% stake in IDBI Federal Life Insurance to its joint venture (JV) partners Ageas and Federal Bank for INR5.95bn ($79m). Belgian insurance company Ageas will acquire an additional stake of 23% while Indian private sector bank Federal Bank will add another 4% in the life insurance joint venture. The deal will see Ageas increase its stake in IDBI Federal Life Insurance to 49% and...

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Online Life Insurance Market is Set for A Potential Growth Global Excellent Technology Trends with Business Opportunities by 2020-2027 Cole Reports

Market Research Inc recently announced its statistical study on Online Life Insurance Market to promote and scale up the growth of the industries. The report comes with the analysis of the risk factors which helps in tracking the ups and downs that are an obstacle for the businesses. The report has been made using primary and secondary research methodologies to discover the current and future statistics. Request a Sample Online Life Insurance Market Research Report at @ https://www.marketresearchinc.com/request-sample.php?id=30055 This global Online Life Insurance Market is very highly inflamed in the regions such as North America, Latin America, Asia, China, Japan, Europe, and India....

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Govt invites bids for preparing IPO of Life Insurance Corporation, VCCircle

The government has invited bids for two pre-IPO transaction advisors for India’s biggest insurer Life Insurance Corporation of India (LIC). The last date for bids is July 13. Government-owned LIC’s public offer is expected to be the largest ever in India. The criterion for applying is that the bidder should have advised, handled, and completed at least one transaction of IPO of a size of Rs 5,000 crore or more between April 1, 2017 and March 31, 2020. Or it should have managed a capital market transaction of Rs 15,000 crore or more during the period. The government is looking at listing the country's largest life insurer on domestic bourses in the January-March quarter of current...

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