Banking | Finance | Insurance & IT in BFSI

Health insurance is a type of protection that assists individuals and families in covering the costs of medical expenses and healthcare services. This industry includes different participants such as insurance companies, individuals, employers, healthcare providers, and government entities. These bodies provide plans according to an individual’s budget, duration, and compatibility. The extent of coverage under a policy can differ based on various factors such as the specific diseases covered, the age group of the insured individuals, government policies, and other relevant considerations.     The health insurance sector is mainly driven by factors such as a rise in the prevalence of chronic diseases, growing awareness about health insurance in rural regions, and improvement in claim management procedures. As per the recent market study by Allied Market Research, the global health insurance market is estimated to portray notable growth throughout the forecast timeframe. The industry

Commercial paper refers to a short-term, unsecured promissory note. This type of debt obligation is issued by high credit ratings holders like financial institutions and large corporations as an alternative to other expensive methods of funding. Although there are several restrictions for small retail investors to purchase commercial paper, it is still possible to some extent. Commercial paper is usually sold at a discount to its face value. It works as the best option for retail fixed-income investors who are seeking a higher rate of return on their money. It is typically issued for the financing of inventories, accounts payable, payroll, and meeting other short-term liabilities. Commercial paper has a fixed maturity of up to 270 days in the global financial market. Commercial paper usually pays a higher rate of interest than guaranteed instruments Most of the commercial paper investors are from the banking sector, corporate and incorporated companies, individuals, and Foreign Instit

Alternative financing methods find applications across various sectors and scenarios, providing alternatives to traditional funding avenues. The following applications showcase the versatility of alternative financing methods in addressing diverse financial needs across different sectors, offering more inclusive and innovative solutions compared to traditional funding channels. Startups and small businesses  — alternative financing, such as crowdfunding , peer to peer lending, and angel investing, offers viable options for startups and small businesses that may face challenges in securing traditional bank loans. It allows them to access funds from a diverse range of individual investors. Real estate  — crowdfunding platforms enable investors to collectively fund real estate projects, offering an alternative to traditional property financing. This approach democratizes real estate investment, allowing individuals to participate with smaller amounts of capital. Venture capital  — alterna

Aircraft   insurance   provides  coverage for physical damage to  an  aircraft  and liability coverage for injuries or property damage caused by the  aircraft . It helps protect owners, oper ators, and passengers from financial losses associated with accidents, theft, or other covered events involving the  aircraft .  The end users of  aircraft   insurance  are airports, airlines,  aircraft  product manufacturers, air taxi operators, leasing compa nies, an d corporate  aircraft  operators.   According to a report published by Allied  Market  Research, the global  aircraft   insurance   market  size is registered to grow significantly from 2023 to 2032. The combination of regulatory, financial, operational, and safety considerations drives the ongoing demand for  aircraft   insurance .    Furthermore, t echnological trends are reshaping the  aircraft   insurance  industry, bringing innovation and efficiency. Blockchain technol o g y   ensures secure and transparent transactions. In  ins

Artificial Intelligence, with outstanding digital assistance, is transforming the banking sector, bringing about improvements in operational efficiency and customer experiences. AI technologies have not only enhanced operational efficiency but have also revolutionized customer experiences. In this article, we’ll delve into how AI is changing banking from a business standpoint, with a focus on notable product launches and success stories from leading companies. AI in Banking: A brief overview AI encompasses a wide range of technologies, including machine learning, natural language processing , and predictive analytics. This, in turn, empowers banks to automate processes, make data-driven decisions, and offer customized services to customers. Product launches and success stories AI-powered virtual assistant by JPMorgan Chase : JPMorgan Chase launched a virtual assistant named “COIN” that utilizes AI and machine learning to assess legal documents. COIN significantly reduced the time requ

  Extended Warranty Industry: Role of Blockchain Technology in Shaping the Future of the Sector   Highlights: Surge in awareness for extended warranty Decline in sales of PCs Expansion of products and services Extended warranties are agreements that prolong the warranty duration of consumer durable goods beyond the manufacturer’s initial offering. They provide coverage for the expenses related to replacing or repairing a product affected by poor workmanship or manufacturing defects. Extended warranties offer customers an added shield against unforeseen repair expenses resulting from product defects or accidental damage. This heightened protection is anticipated to increase awareness of extended warranties. Numerous products typically include a standard manufacturer’s warranty at no extra cost. This warranty commonly covers the initial year or the first few years of the product’s lifespan. Consequently,  extended warranties  often offer redundant coverage that may prove unnecessary due