Flipkart ties up with Aegon to sell life insurance policies
Indian E-commerce company Flipkart has tied up with Aegon Life Insurance to sell comprehensive insurance solutions for customers. The tie up targets those customers who are seeking instant digital policies with a sum assured of up to Rs 10 lakh. These life insurance policies do not need medical tests or paperwork as it is an instant life insurance cover, with digital policy as its core value proposition.
The tie-up aims to change the notion of customers regarding life insurance policies as customers think that it is expensive and cumbersome to buy including long and rigid tenures and mis-selling. The tie-up will give a new vision to this by making life insurance available to customers at the click of a button in a convenient and transparent manner.
Digital Solutions Exchange “GOKADDAL” launched in India
The World’s first Digital Solutions Exchange in the cloud “GOKADDAL” has been launched in India. GOKADDAL is a cloud-based solutions exchange platform which focuses on four A’s i.e. Automation, Artificial Intelligence, Analytics and Augmentative Technologies. GOKADDAL brings its customers to the right solutions with right tools and right providers and hence helps them to realize their digital transformation vision. The cloud delivery platform is expected to revolutionize the way digital solutions are sourced, delivered and managed.
The Dubai based emerging technology company “GOKADDAL Technologies” is a part of Merkado group.
Paytm subsidiary gets IRDAI’s brokerage licence to offer insurance products
Indian digital payments platform Paytm’s subsidiary, Paytm Insurance Broking, has received the brokerage licence from the Insurance Regulatory and Authority of India (IRDAI). Paytm will now offer insurance in various categories namely automotive, health and life. In addition to this, Paytm customers can also get policy management and claim settlement at select merchant points.
Paytm Insurance Broking aims to support its 16 Million merchant partners to sell its innovative insurance products all over India. Also, it aims to expand the outreach of its products in a hassle-free manner and empower the merchant by providing an alternate income source. Paytm has already partnered with 20 insurance companies and is now planning to get an additional 30 companies in future.
Bharti AXA General Insurance uses Whatsapp to deliver policy & renewal documents
Bharti AXA General Insurance, a private non-life insurer becomes the 1st company in India to use Whatsapp chatbot. Through this service, the company started delivering policies and renewal premium to its customers. It plans to sell the private car, two-wheeler and travel insurance through a WhatsApp chatbot.
ADB raises $118 million from rupee-linked bonds
The Asian Development Bank (ADB) has raised Rs 850 crore (USD 118 million) from a new issue of offshore Indian rupee-linked 10-year bonds. This represents ADB’s first new maturity raised in Indian rupees since 2017 and contributes to an established yield curve which stretches from 2021 through 2030 with Rs 7,240 crore (USD 1 billion) of outstanding bonds. ADB’s India rupee bonds have been a “game-changer” for local currency operations.
The bonds bear a semi-annual coupon of 6.15 per cent and priced to yield 6.19 per cent. The bonds, which are denominated in Indian rupees, but settled in US dollars, were underwritten by JP Morgan and primarily distributed to investors in the Americas (21 per cent) and Europe (79 per cent).
US becomes India’s top trading partner, surpassing China
The United States has become India’s top trading partner surpassing China, according to 2018-19 data from the Commerce Ministry. The bilateral trade between the US and India amounted to USD 87.95 billion as compared to USD 87.07 billion with China.
Birla Estates has introduced “LIDEA” on WhatsApp for its customers
Birla Estates has launched “LIDEA” for its customers on WhatsApp. “LIDEA” is an interactive AI Powered ChatBot solution launched by Birla Estates for its customers.
Advantages of LIDEA:
The users of “LIDEA” will be able to access authentic information of the projects which can be used for the evaluation of the residential developments of Birla Estates. LIDEA which is powered with artificial intelligence, also answers the queries of the users regarding Birla Estates developments. It will also offer features like viewing location, configurations, amenities, virtual tours and accepting site visit requests. The launch of the ChatBot on WhatsApp adds to the digital experience by providing immersive Virtual Reality experience to potential homebuyers.
SEBI allows the use of regulatory sandbox by market players
Securities and Exchange Board of India (SEBI) has permitted the market players to use regulatory sandbox on select customers. SEBI will grant limited registration for such testing purposes. The decision has been taken to facilitate the use of latest fintech innovations in capital markets. The decision was taken at the board meeting of the market regulator Securities and Exchange Board of India.
JSW Steel allowed by NCLAT to acquire Bhushan Power
The National Company Law Appellate Tribunal has approved the Rs 19,700 crore resolution plan of JSW Steel to take over the bankrupt Bhushan Power and Steel. The approval comes with the immunity sought by the new owner against investigations being carried out against the erstwhile promoters of Bhushan Power and Steel.
Sebi constitutes Municipal bonds development committee
Markets regulator Sebi has constituted a Municipal Bonds Development Committee headed by Sujit Prasad. This committee will suggest on policy matters pertaining to the development of municipal debt securities and facilitate municipalities for issuance of such bonds.
This committee comprises representatives from municipal corporations, lawyers, professionals and market practitioners. The panel will advise Sebi on issues related to regulation and development of the primary and secondary market of municipal debt securities.
