Digital Insurance’s Post

🌟 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 𝗦𝗽𝗲𝗮𝗸𝗲𝗿 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁 📣 Dr. Nandagopal P, Founder, Upsure World We are so honored to have Dr. Nandagopal P, Founder, Upsure World to be our distinguished moderator & panelist at Digital Insurance 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 (Dec. 16-17th, Dubai, UAE), which is a top global event for insurers to transform. 𝗦͟𝗽͟𝗲͟𝗮͟𝗸͟𝗲͟𝗿͟ ͟𝗣͟𝗿͟𝗼͟𝗳͟𝗶͟𝗹͟𝗲͟:͟ Dr. P. Nandagopal (Nanda) has an exceptional track record of nurturing ventures from start-up to leadership stage as well as in bringing transformational change in stagnant businesses. He so far founded, nurtured and led 3 Insurance companies in India and has deep expertise in Life, General and Health Insurance domains. His latest engagement is with Upsure ( www.upsure.io), a B2B2C, state of the art, digital core insurance platform designed to meet the needs of all insurance enterprises and discerning customers across APAC, Middle East and USA in retail and institutional segments. Dr. Nandagopal is passionate about bringing disruptive change in the Insurance technology landscape to signi ficantly improve the stakeholder value proposition, without burning capital or compromising on the business growth. Work done before ▪ Founded 3 Life Insurance Companies – Birla Sun Li fe, Reliance Nippon Li fe & IndiaFirst Life. Worked as CEO for 10 years prior to founding Upsure Inc. Credentials & Global Connect ▪ Achieved record setting revenue growth in the companies he has led. ▪ Created enterprise value of over $3 billion ▪ Proficient in the best practices of UK, North American, Asian & MENA Insurance Markets.  Innovation & Awards ▪ Introduced Bancassurance (2001), Online Insurance Platform (2003), Automated Point of Sale systems (2010) for the first time in India ▪ Won over 30 awards at National and International forums Industry Leadership ▪ Worked as the Chairperson of Insurance Council (Life & General ) of industry body, ASSOCHAM ( 2009-2014). Author of the Li fe Insurance Vision Plan 2011-2021, India. Dr. Nandagopal P 𝗮͟͟͟͟͟͟͟𝘁͟͟͟ ͟͟͟𝗗͟͟͟𝗶͟͟͟𝗴͟͟͟𝗶͟͟͟𝘁͟͟͟𝗮͟͟͟𝗹͟͟͟ ͟͟͟𝗜͟͟͟𝗻͟͟͟𝘀͟͟͟𝘂͟͟͟𝗿͟͟͟𝗮͟͟͟𝗻͟͟͟𝗰͟͟͟𝗲͟͟͟ ͟͟͟𝗠͟𝗘͟𝗡͟𝗔͟ ͟͟͟𝟮͟͟͟𝟬͟͟͟𝟮͟͟͟𝟰͟͟͟ ◾ Panelist: Digital Enabled, Future Ready: Building a Digital-Driven and Resilient Life Insurer ◾ Moderator: Accelerating Innovation through Partnerships-Unlocking Collaborative Power for Scalable Insurance Innovation Let us eagerly anticipate the most valuable and cutting-edge insights that will be shared. 🎫𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 📍 Venue: MILLENNIUM PLAZA DOWNTOWN HOTEL, Dubai, UAE 📅 Time: December 16-17th 📝 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿: https://lnkd.in/g23Gb5Ab 💡 Website: https://lnkd.in/gjVjYVm7 #digitalinsurancemena #digitalinsurane #insurtech #insurer #transformation #topevent #insurance #event #MENA #Dubai #digital #data #AI #analytic #bigdata #Artificial #Intelligence

Navigating the Future: An In-Depth Analysis of the MRD Dynamic Monitoring Technology Market https://lnkd.in/dVe8WiCY Introduction The Life and Non-Life Insurance Market comprises two primary segments: life insurance, which provides financial protection to beneficiaries upon the policyholder's death, and non-life insurance (or general insurance), which covers a range of risks such as property, liability, health, and travel. This market plays a critical role in financial security and risk management for individuals and businesses alike. It is characterized by a dynamic landscape influenced by technological advancements, regulatory changes, economic conditions, and evolving consumer needs. Market Overview Market Size and Growth: The global insurance market is expected to witness steady growth, driven by increasing awareness about the importance of insurance, rising disposable incomes, and the expanding middle class in emerging markets. Market Segmentation: The market can be segmented into life insurance products (e.g., term life, whole life, universal life) and non-life insurance products (e.g., property insurance, health insurance, auto insurance). Geographical Insights: North America holds a significant share of the market, followed by Europe and Asia-Pacific, with emerging markets showing rapid growth potential. Market Trends Digital Transformation: The adoption of digital platforms for policy sales, claims processing, and customer service is increasing, enhancing customer engagement and operational efficiency. Usage-Based Insurance: The rise of usage-based insurance models, especially in auto insurance, allows premiums to be based on individual driving behavior. Insurtech Growth: The emergence of insurtech companies is disrupting traditional models, offering innovative solutions and improving customer experience. Health and Wellness Integration: Insurers are increasingly integrating health and wellness initiatives into their offerings, promoting preventive care and healthy lifestyles. Sustainability Focus: There is a growing emphasis on sustainable insurance practices, including investment in green initiatives and products. Market Drivers Increasing Risk Awareness: Growing awareness of financial risks and the importance of insurance for safeguarding assets is driving demand. Regulatory Support: Favorable regulatory environments in various regions are promoting the growth of the insurance sector. Economic Growth: Rising disposable incomes and economic stability contribute to increased insurance penetration and premium collections. Technological Advancements: Innovations in technology enhance underwriting, claims processing, and customer engagement, improving efficiency and profitability. Insights Customer Preferences: Consumers are increasingly seeking personalized insurance solutions that cater to their specific needs and preferences. Risin

Navigating the Future: An In-Depth Analysis of the MRD Dynamic Monitoring Technology Market https://lnkd.in/dVe8WiCY Introduction The Life and Non-Life Insurance Market comprises two primary segments: life insurance, which provides financial protection to beneficiaries upon the policyholder's death, and non-life insurance (or general insurance), which covers a range of risks such as property, liability, health, and travel. This market plays a critical role in financial security and risk management for individuals and businesses alike. It is characterized by a dynamic landscape influenced by technological advancements, regulatory changes, economic conditions, and evolving consumer needs. Market Overview Market Size and Growth: The global insurance market is expected to witness steady growth, driven by increasing awareness about the importance of insurance, rising disposable incomes, and the expanding middle class in emerging markets. Market Segmentation: The market can be segmented into life insurance products (e.g., term life, whole life, universal life) and non-life insurance products (e.g., property insurance, health insurance, auto insurance). Geographical Insights: North America holds a significant share of the market, followed by Europe and Asia-Pacific, with emerging markets showing rapid growth potential. Market Trends Digital Transformation: The adoption of digital platforms for policy sales, claims processing, and customer service is increasing, enhancing customer engagement and operational efficiency. Usage-Based Insurance: The rise of usage-based insurance models, especially in auto insurance, allows premiums to be based on individual driving behavior. Insurtech Growth: The emergence of insurtech companies is disrupting traditional models, offering innovative solutions and improving customer experience. Health and Wellness Integration: Insurers are increasingly integrating health and wellness initiatives into their offerings, promoting preventive care and healthy lifestyles. Sustainability Focus: There is a growing emphasis on sustainable insurance practices, including investment in green initiatives and products. Market Drivers Increasing Risk Awareness: Growing awareness of financial risks and the importance of insurance for safeguarding assets is driving demand. Regulatory Support: Favorable regulatory environments in various regions are promoting the growth of the insurance sector. Economic Growth: Rising disposable incomes and economic stability contribute to increased insurance penetration and premium collections. Technological Advancements: Innovations in technology enhance underwriting, claims processing, and customer engagement, improving efficiency and profitability. Insights Customer Preferences: Consumers are increasingly seeking personalized insurance solutions that cater to their specific needs and preferences. Risin

🌟 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 𝗔𝗱𝘃𝗶𝘀𝗼𝗿 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁 Great honour and excited to welcome Mr. Mohamed Seghir, Chief Executive Officer, HAYAH Insurance Company to join in our 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗖𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗲 for the Digital Insurance 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 (Dec. 16-17th, Dubai, UAE), which is a top global event for insurers to transform. 𝗔͟𝗱͟𝘃͟𝗶͟𝘀͟𝗼͟𝗿͟ ͟𝗣͟𝗿͟𝗼͟𝗳͟𝗶͟𝗹͟𝗲͟ Mohamed is a fully qualified actuary from the French (IA), German (DAV) and Swiss institute of actuaries (SAV). He studied at ISFA (Institut des Sciences Financières et des Assurances) and holds a MSc in Finance and Actuarial Sciences and a BSc in Finance from Université Claude Bernard (Lyon, France). Mohamed started his career in 2007 as an Actuary at FWU AG in Munich, where he was responsible for Western Europe and the Middle East, developing conventional and Takaful solutions for banks and insurance companies. In 2010, he took up the role of Manager Actuarial Services for Munich Re in charge of the Middle East before joining Swiss Re in Zurich in 2013, initially as a Senior Marketing Actuary in charge of pricing of the life & health business in MENA, Turkey and Pakistan before becoming the Head of North Africa (P&C and L&H) and Middle East (L&H). Mohamed was appointed CEO of AXA Green Crescent in the UAE in April 2018, turning around the company’s results in a record time. Following the exit of AXA from the Middle East, Mohamed spearheaded the company’s transformation and rebranded it as HAYAH with a renewed corporate identity and a new strategic direction. Beyond his executive responsibilities, Mohamed is a fervent advocate for the insurance industry. He is a regular contributor at seminars, conferences, and in publications, sharing his knowledge and insights on a range of topics including digital, artificial intelligence, bancassurance, life insurance, Takaful solutions, pensions, and wealth management. Among his notable achievements, he created Nadwa by Swiss Re, a yearly gathering of insurance experts, and Rihla by HAYAH, a comprehensive report recognized as the most advanced on Life & Health insurance in the MENA region. Mr. Mohamed’s contribution will be a key factor for us to build platforms as well as communities around the world to connect, inspire and promote digital transformation in insurance industry. 🎫𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗘𝗡𝗔 𝟮𝟬𝟮𝟰 📍 Location: Dubai, UAE 📅 Time: December 16-17th 📝 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿: https://lnkd.in/g23Gb5Ab 💡 Website: https://lnkd.in/gjVjYVm7 #digitalinsurancemena #digitalinsurane #insurtech #insurer #transformation #topevent #insurance #event #MENA #Dubai #digital #data #AI #analytic #bigdata #Artificial #Intelligence

🚀 We're pleased to announce our Q2 2024 #earnings, showcasing a resilient quarter with notable achievements.! Here are the key financial and operational highlights: 🔘 Gross Written Premiums: RMB1,336.9 million 🔘 Gross Profit Margin: 31.3% (+2.3% QoQ) 🔘 Renewal Premiums: RMB685.4 million (+ 42.8% YoY) 🔘 Cumulative Insurance Clients: 9.8 million 🔘 Number of Insurer Partners: 125 🔘 International Business Contribution: 11% of total revenue Reflecting on these impressive results, Huize’s Founder and CEO, Mr. Cunjun Ma, shared: "Our business demonstrated resilience amidst a challenging economic and operating environment, with total GWP reaching RMB1.34 billion in the second quarter of 2024. These results reflect our strategic vision and core competencies in attracting high-quality customers, innovating customized products, developing sophisticated AI solutions, and diversifying into international markets." “Our long-term insurance products maintained a GWP contribution above 90% for the nineteenth consecutive quarter, underscoring our commitment to sustainable growth. The overall quality of our customers continued to improve, as evidenced by our record-high average first year premiums ("FYP”) ticket size of RMB78,000 for savings products and a sustainably high repeat purchase rate for long-term insurance products of 40.5%. Moreover, our high-quality customer base also helped sustain our persistency ratio for long-term life and health insurance products at the industry’s highest levels. As of the end of June 2024, the 13th and 25th-month persistency ratios stood at above 95%.” “Our expansion into the international market is gaining traction, with revenue contribution from our international business increasing to 11% in the second quarter. We are also pleased to have completed the acquisition of a controlling stake in Global Care, a leading Vietnam-based Insurtech company specializing in digital transformation solutions for the insurance industry through our international arm Poni Insurtech in September. These strategic initiatives will further diversify our revenue streams and solidify our presence globally.” “Looking ahead, we remain committed to enhancing the customer experience by leveraging cutting-edge technology, further solidifying our position as a leading pan-Asian digital insurance platform. We are focused on diversifying our revenue streams by expanding into high-growth markets in Southeast Asia, reinforcing our strategy for sustainable, long-term growth.” Check out the link here: https://lnkd.in/gMrbTamt #Q2Results #Huize

For over 200 years, the core of PZU Group is insurance activity, which aims to ensure a sense of peace and security for our clients through the offered comprehensive insurance protection in all crucial areas of private, public, and economic life. The PZU Group is the largest financial institution in Central and Eastern Europe (CEE). The company is trusted by over 22 million customers in five countries. Operating in the areas of insurance, banking, investments, and healthcare, PZU manages nearly PLN 470 billion in assets. Implementing innovations is a crucial aspect of the PZU Ready for Startups program. We are happy to announce that they became a partner of StartSmart CEE Spring 2024 acceleration program! 🎉 The company aims not only to respond to developments in insurtech but also to stay ahead of these trends. PZU is looking for startups operating in areas of: 🤖 Big Data and Artificial Intelligence How to improve business management and prediction by exploiting the potential of Data Science? How to manage the waste from garages more effectively - parts of PZUs customers' vehicles qualified for replacement or disposal? How to recognize, verify various forms of deep fakes (text, photos, voice, video, etc.), insurance fraud? How to implement new business models resulting from the introduction of the Data Act and FIDA? How to support employee upskilling and to take care of employee welfare and build good working habits? 👥 Customer Engagement  How to simplify the insurance sales process? How PZUs partner dealers and multiagencies can sell and work more easily, and loyalise? How to support dealers to do their job more effectively, more easily? What AI solutions can support customer advisors working in call centers? How to make the interaction with the insurer faster for the customer and build a positive experience, while complying with regulations? How to support drivers in all aspects of taking care of safety (including: sobriety verification, readiness to drive)? What innovative services (Value Added Services) can PZU offer to customers to support them in their daily lives? ⚕️ Health Tech and ⛑️ Insurech How to respond to the needs of older people? How to simplify and speed up the process of remote diagnosis? How to support independent daily health care? How to support insurance prevention in the life/health area. How to proactively prevent insurance incidents? How to develop new or improve existing actuarial solutions for risk assessment and pricing excellence in motor insurance? Bring them the answers by participating in StartSmart CEE Spring 2024 acceleration program! Submit your start-up by clicking on the link in the comments section below. ⬇️ https://lnkd.in/d7Sm9-p2 https://lnkd.in/drV95X-x #EuropeanFunds

New trends in the life insurance industry: Towards a more innovative, customer-centric, and technology-driven operations. The life insurance industry is evolving very rapidly. It’s not the industry that our parents use to know. It’s now a much more sophisticated financial industry that answers to people and company needs of protection. This are the key trends expected to shape the landscape: 1. Increased Digitalization and Use of Technology: The adoption of digital processes for sales, claims processing, and customer service is expected to rise. Insurers may rely more on artificial intelligence (AI) and machine learning for underwriting, risk assessment, and personalized product offerings. 2. Greater Focus on Customer Experience: Insurers are likely to enhance the customer experience through streamlined processes, more transparent policies, and tailored products. 3. Demand for Personalized Insurance Products: There’s a growing demand for customizable life insurance products that cater to specific customer needs and lifestyles. This could lead to an increase in flexible policies where policyholders can adjust coverage and premiums. 4. Health and Wellness Integration: Insurers might offer more policies that integrate health and wellness benefits, rewarding policyholders for healthy behaviors with premium discounts. . 5. Expansion of Telematics in Underwriting: Similar to its use in auto insurance, telematics technology could play a bigger role in life insurance for assessing lifestyle and health risk factors, leading to more accurate pricing. 6. Growth in Usage-based Insurance (UBI): Following the personalized product trend, there could be a rise in usage-based life insurance products that adjust premiums based on behavior or lifestyle changes. 7. Impact of Regulatory Changes: Changes in regulation, both locally and globally, may influence product offerings, capital requirements, and how insurance companies operate. Insurers will need to stay agile to adapt to these changes. 8. Cybersecurity and Data Protection: As digitalization increases, so does the risk of cyber threats. Insurers will likely invest more in cybersecurity measures and data protection to safeguard sensitive customer information. 9. Increased Adoption of Advanced Analytics: The use of big data and predictive analytics is expected to grow, allowing insurers to gain deeper insights into customer behavior, improve risk assessment, and drive product innovation. 10. Sustainability and ESG Considerations: Environmental, social, and governance (ESG) factors are becoming more important in the insurance industry. Companies might introduce more ESG-compliant products and strategies to address climate change and sustainability concerns. Stay tuned on this always growing industry. #LifeInsuranceTrends #DigitalTransformation #CustomerExperience #PersonalizedInsurance #HealthWellness #Insurtech #TelematicsInsurance #UsageBasedInsurance #RegulatoryChange #insuranceInnovation

A health insurance brokerage achieved a 50% faster year-end close with Dynamics 365 Finance and Power BI. By automating workflows and gaining real-time insights, they’ve transformed their financial reporting process. Learn how your business can benefit too! 🔗: https://lnkd.in/eNpHuvC3 #Dynamics365 #PowerBI #FinanceTransformation #Velosio #DigitalTransformation

🚀 Excited to share that I’ll be joining Digital Insurance MENA 2024 as a panelist in Dubai this December 16-17. This event is a premier gathering of global leaders in the insurance industry, focusing on the transformative power of digital innovation. I look forward to engaging in a deep and insightful conversation about how we can effectively manage change to foster digital transformation within the industry. I hope to see you there! #DigitalInsurance #MENASummit #CignaHealthcare #Leadership #Innovation #DigitalTransformation #InsuranceIndustry #MENA2024 #DubaiEvent

#Outsourced Insurance Verification for Healthcare Providers Insurance verification is a vital step in the healthcare revenue cycle. It ensures that healthcare providers receive timely and accurate payment for the services they offer. However, the insurance verification process can often be complex and time-consuming, diverting valuable resources away from patient care. Outsourcing insurance verification services can help healthcare providers streamline their operations and optimize revenue cycles. By partnering with a specialized outsourcing provider, healthcare practices can benefit from skilled professionals who are well-versed in insurance verification processes and protocols, leading to more efficient operations and improved cash flow. One key advantage of outsourcing insurance verification is the expertise and experience that comes with it. Outsourcing providers have dedicated teams of professionals who are trained in navigating the complexities of insurance verification. They have a deep understanding of the insurance industry, including different types of plans, eligibility criteria, and coverage limitations. This expertise enables them to handle verification tasks swiftly and accurately, minimizing errors and rejections. Moreover, outsourcing insurance verification can significantly reduce administrative burdens on healthcare providers. Dedicated teams can handle the entire verification process, from gathering patient information to contacting insurance companies and obtaining pre-authorization, if necessary. This allows healthcare staff to focus on delivering quality care to patients, rather than spending precious time on paperwork and phone calls. Outsourcing insurance verification also offers scalability and flexibility. Whether a healthcare practice experiences fluctuations in patient volume or needs to expand its operations, outsourcing providers can quickly adapt to meet the changing demands. This allows healthcare providers to effectively manage their resources while ensuring that verification tasks are completed without delays. In addition, outsourcing insurance verification can help mitigate compliance risks. HIPAA regulations are a crucial consideration in handling patient information, and outsourcing providers specialize in maintaining strict data security and confidentiality standards. With robust systems and protocols in place, they ensure that personal health information is protected at all times while adhering to regulatory requirements. By outsourcing insurance verification, healthcare providers can achieve optimized revenue cycles, reduced administrative burdens, scalability, and enhanced compliance. The benefits are numerous, allowing providers to focus on delivering exceptional patient care without compromising on financial stability. Have you considered outsourcing insurance verification for your practice? Share your thoughts and experiences in the comments below!