MUMBAI: Insurance is the art of factoring in the probability of an event and then taking a call on it.
And, when it comes to actor Salman Khan — he was convicted and sentenced to five years rigorous imprisonment in a 2002 hit-and-run case on Wednesday — the industry seems to have stayed ahead of Bollywood.
How Much Is Kim Kardashian's Butt Worth?
Kim Kardashian has allegedly insured her butt for $21million.
The Keeping Up with the Kardashians star is famous for her killer curves, which include a pert bottom that she often shows off in figure hugging clothes.
Prospect of separate Scottish tax regime stokes business alarm
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Directors of Standard Life are preparing to issue a coded warning next week on the dangers of Scotland’s tax regime diverging from the rest of the UK as business leaders fret over the fallout from the Scottish National party’s landslide victory.
While executives and investors in much of the UK cheered the victory of a business-friendly Conservative government, their counterparts in Scotland were warier of the outcome after the left-leaning SNP won 56 out of 59 seats north of the border.
FUNCTIONS AND BENEFITS OF INSURANCE
Insurance has many functions and benefits, some of which we may describe as
primary and others as ancillary or secondary, as follows:
- Primary functions/benefits: Insurance is essentially a risk transfer mechanism, removing, for a premium, the potential financial loss from the individual and placing it upon the insurer. The primary benefit is seen in the financial compensation made available to insured victims of the various insured events. On the commercial side, this enables businesses to survive major fires, liabilities, etc. From a personal point of view, the money is of great help in times of tragedy (life insurance) or other times of need.
Insurance Industry Responds to Heartbleed
What is Heartbleed?
- Heartbleed is not a true ‘virus’, however it exploits a vulnerability in OpenSSL (Secure Socket Layer).
-Used by insurance agents and carriers for TLS email security.
- This affects some websites that display addresses beginning with “https:” – but not all. It allows hackers to more easily steal logins and passwords.
- Most financial institutions don’t use OpenSSL, but many sites like Gmail, Facebook, and Yahoo do.
Insurers See Big Data Replacing Enterprise Warehousing
At our 8th annual Novarica Insurance Technology Research Council Meeting, we had some great conversations about data, both as part of the formal event agenda and also via informal discussions during breaks or meals. Many of the trending or future technologies being discussed (Internet of Things, wearable devices, social media) from an insurer perspective are really just more and bigger channels of data. And just in case you think insurance data is lacking in thrills: my favorite story of the day was about auto insurers looking for fraud or stolen vehicles by integrating data feeds from the license plate scanners used by bounty hunters.
How Allstate Puts Tech Investment in Motion
Savvy listeners to this morning's Allstate earnings call heard a lot more than just financial-performance numbers. The company's executive leadership demonstrated that technology innovation is driving strategy at a high level.
Not only did CEO Tom Wilson cite the opportunity in the "connected consumer" in noting that Allstate has "three-quarters of a million" DriveWise and DriveSense customers (the former is the Allstate-branded telematics offering, while the latter is Esurance's), but he also said: "We continued laying the foundation to reduce low value added tasks by our agencies while increasing their ability to provide trusted advice to customers."
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