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Category: BFSI

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    Why Digital Transformation is essential for Business growth

    Digital Transformation refers to the adoption of digital operations and tools to reach strategic business goals. It encompasses everything that is involved in the business of an IT company right from internal processes to customer interactions. Whether it is a small business or a large enterprise, digital transformation is an absolute necessity in the modern technological era.

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    Role of AI and ML in Insurance Fraud Detection

    Insurance frauds have been in existence ever since the inception of the concept of insurance. False claims and incorrect statements in subscriptions cause the insurance companies to lose several millions of dollars every year. An FBI report states that the total value of insurance fraud is approximated to be more than $40 billion per year. The loss on fraudulent insurance claims last year reached $34 billion in the U.S alone.

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    Estimating Unpaid claims using Expected claims Technique in Insurance

    The expected claim method is usually used by Insurers when entering new lines of business or new territories. This method is more commonly used in lines of business with longer emergency patterns ad settlements like Medical Negligence, Workmen compensations, Product liability, etc.

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    Diving into Dynamic Financial Analysis

    DFA is a manner of viewing the world; it is not a specific model or procedure rather it is a perspective. Stochastic simulation, scenario testing, financial modeling, risk covariance, sensitivity estimation- all the terms that are associated with dynamic financial analysis - are handmaidens to the central perspective.

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    Significance of Insurance Product Design using Competent Technologies

    When it comes to designing an insurance product, the insurer has to keep in mind the customer need, preferences, appropriate delivery mechanism, regulatory requirements, and knowledge of local and global conditions even though there is no “one size fits all“ solution.

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    Insights into Risk Management in the Insurance Industry

    A preexistence of a proper risk management culture underpins a risk management framework. Risk management-related communications and taking strict actions for violations, including disciplinary actions send the right signals across the organization. On the positive side, good risk management communication acts as an educative tool to assist the functional heads to build a solid risk management framework.

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    Personal Financial Management: Financial Planning II

    With great financial planning, one can achieve their goals. All it takes is research, time, and dedication. Here’s some pointers on getting there.

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    Personal Financial Management: Golden Rules of Investing

    With a bit of smart planning and investing you can easily cushion any crisis such as covid 19 or any future events. Get to know how, here.

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    Scale Up your Business with the Planet’s most active Personal Messaging Platform — Whatsapp Business API

    Whatsapp could be used effectively for our Business Development, Quality & Personalised Customer Service, Product endorsement at a lower cost. Read more.

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    Takaful Insurance — a simplified approach

    Takaful Insurance is quite a vague phenomenon not known to many. Keeping this in mind, this blog is an effort to give a broad idea of the concepts, operations, and processes involved in Takaful Insurance.