Based on the insurance platform of the Norwegian insurtech Cloud Insurance, Maiden’s distribution partners can now offer their diverse catalog of insurance products to customers by simply plugging into this cloud-based insurance platform. Modular plug-and-play Maiden and Cloud Insurance have focused on implementing a modular plug-and-play solution for Maiden Life & General. The nimble and adaptable solution allows tailoring of the online proposition to the specific needs of each distribution partner. Utilizing the latest technology, the insurance proposition can be integrated within the distribution partner’s website, completely adopting the branding, look, and feel of the site. The...
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HONG KONG (Reuters) - Hong Kong has awarded Bowtie Life Insurance, a company backed by Sun Life Financial's Hong Kong unit SLF.TO, the first online-only insurance license under the city's "fast-track" scheme. The online platform will operate in a market worth more than $63 billion in insurance premiums, and will compete with players such as AIA Group 1299.HK and the local unit of Prudential Plc PRU.L. Bowtie Life Insurance, which is also supported by Sequoia Capital managing partner Neil Shen’s Hong Kong X Technology Fund, will offer life insurance directly to consumers rather than selling through intermediaries such as agents or banks, as is common in Hong Kong. More than 80 percent of...
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Update Your Insurance Beneficiary Your VA Life Insurance Beneficiary is the person you have designated to receive your insurance proceeds in the event of your death. It is very important to make sure your beneficiary information is always up to date. This will make it much easier on your family members to file a claim and receive the benefit quickly. You should review your beneficiary information at least once a year to make sure everything is current. Even though you may have the same beneficiary, they might have changed addresses. A regular beneficiary review each year will make sure you capture these changes. Certain life events such a marriage or the birth of a child or divorce should...
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Growing up is not easy. Sure, we can all find moments of joy and excitement when we make big steps like landing a new job, buying a new home, and having babies for the first time. While acknowledging and appreciating the beauty in all of these milestone events, it’s also true that they can bring major chaos. Working long office hours, staying up late with a crying newborn, and doing it all while keeping up with mortgage payments is not easy. It’s also tough that when all of this is going on, it’s likely the time that you should start considering life insurance policies. If you’re one of the near quarter of American adults who isn’t covered, it might be because you have heard that securing...
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Only 3% of the population are covered under life insurance The fear of the pandemic may have accelerated purchase of health insurance and life cover among the public, but India still has miles to go in increasing overall insurance penetration and building awareness of its benefits, according to the CEOs of private life insurers and intermediaries. On the occasion of the National Insurance Awareness Day (June 28), most of them felt that there is a need to fast-track insurance penetration, given that only 3 per cent of the population are covered under life insurance. One may have to take a leaf out of India’s vaccination drive and get insurance penetration levels up on a mission mode, they...
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New Delhi: India has put the initial public offering of the country's biggest insurer Life Insurance Corp of India (LIC) on a fast track while the privatisation of two state banks is mired in procedural issues, two government and one industry source said. The listing of LIC is set to be India's biggest ever IPO, with the government aiming to raise Rs 800 billion-900 billion ($11 bln-12.2 bln) from its stake sale. In all, the government plans to raise Rs 1.75 trillion from a privatisation programme in the current fiscal year ending in March, one of the sources said. It has selected 10 investment banks including Goldman Sachs, Citigroup and SBI Capital Market to handle the LIC initial public...
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If you were no longer here, would your family be able to cover your final expenses and any debt you leave behind? Guaranteed-acceptance insurance, such as the Gerber Life Guaranteed Life Plan, can help reduce the financial burden that your loved ones may have to bear. In addition to helping protect your family financially, this whole life insurance also benefits you by building cash value and by not requiring answers to health questions or a medical exam. Guaranteed Acceptance*, No Questions Asked If you’re 50 to 80 years old, the Gerber Life Guaranteed Life Plan may be right for you. It can be an affordable way to help your beneficiaries — your loved ones — pay medical bills that you leave...
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The State Bank of India stated in its Ecowrap report that one in every three life insurance policies in India are sold to women. It also said that recovery in the insurance sector would be fast for both life and non-life insurance going forward. The SBI Ecowrap stated: “It is heartening to note that every 1 in 3 life insurance policies in India are sold to a woman. The number of policies issued to women in FY21 is around 93 lakh policies which is a 33 per cent share as against a share of 32.23 per cent in 2019-20. The proportion of policies on women in case of private life insurers is 27 per cent and that of LIC is 35 per cent. In 19 States/UTs, the share in number of policies bought by...
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JERSEY CITY, N.J., March 17, 2022 (GLOBE NEWSWIRE) -- Verisk’s FAST technology platform for life insurers and annuity providers has received top rankings from Information Services Group Inc. (ISG) for the second consecutive year based on the strength and breadth of its offering. In competitive strength and portfolio attractiveness, FAST was ranked the best of 20 life and retirement (L&R) platforms evaluated in the ISG Provider Lens™ Insurance Platform Solution s 2021 report. Citing its data, analysis and secondary research, ISG noted the capacity for predictable and successful results from the easily upgradable FAST platform, backed by unique software and delivery and supported by the...
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JERSEY CITY, N.J., Dec. 04, 2019 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK ), a leading data analytics provider, announced today it has signed a definitive agreement to acquire FAST, a leading software company for the life insurance and annuity industry. FAST offers a flexible policy administration system that helps insurers accelerate underwriting and claims to enhance the customer experience and support profitable growth. “As customer expectations for a fast and easy insurance experience rapidly increase, life insurers are being pressured to modernize operations across the policy life cycle,” said Neil Spector, president of ISO, a Verisk business. “But transitioning from legacy solutions...
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