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Outlook 2022 Life Insurance Emerging Trends Growth Analysis and Expectations…



Importance of Life Insurance after COVID-19 / Awareness: The Kovid epidemic has had a great impact on our lives and our attitude towards the future. Due to the epidemic, more than 5.3 lakh people died in India. In this way, the pandemic affected the general perception of people regarding financial stability and financial immunity. In a post-pandemic survey, more than 50% of respondents now believe in creating an emergency fund, while around 80% say insurance is important for financial planning. People’s interest in term life coverage increased immediately and there was an increase in the number of people comparing term products on the Internet.

The effect of this change in attitude and the growing interest of the people has been that the insurance penetration in India increased to 3.2% in 2020-21, which was 2.8% in 2019-20, according to the report. regulator’s annual

• Customer expectations and behavior in rural India

1. The need for confidence and awareness of the rural population
2. Emerging market for life insurance in rural areas

Generally, Indians maintain insurance in the amount of 3.5 to 4 times their annual income while individuals are advised to take out insurance in the amount of 10 to 25 times their annual income. Life insurance penetration has increased, but we find that it is mostly seen in urban India and even today the majority of the rural population do not have adequate insurance coverage. In a country like India, where around 65 percent of the population lives in rural areas, this is believed to lead to a life insurance protection gap of up to 80 percent. This figure shows the need to increase awareness and penetration in this segment.

However, the adoption of technology has provided an essential means of reaching such customers even in rural areas. According to one estimate, 50 percent of the Internet-using population in India comes from rural India. Because of this, there is great potential to reach customers in these areas through digital and serve them.

The needs and challenges of rural India are different as the ticket size should be smaller here. Apart from this, there are challenges of their own such as uncertainty in the season and income and the provision of services to people in rural areas.

The focus should be on providing solutions to these customers rather than just distributing insurance products. Shriram Life’s focus has been on the rural and urban population. About 44 percent of the company’s business comes from rural India. The company has been looking for solutions and processes over the years to meet the needs of its customers.

• Use of AI for customer interaction

1. Emerging digital trends for life insurance in 2022 and beyond

2. Increase in customer transactions through digital media

Due to the epidemic, more people are embracing digital and have greater confidence in transactions through digital platforms. According to some reports, 69 million people use the Internet in India, and according to an estimate, 39 million people conduct some form of online transaction.

At the start of the pandemic, insurance companies paid a lot of attention to technology to provide facilities for their sales team and customer service team. It has seen an increase over time as there are many digital platforms available such as website, mobile app and WhatsApp. eKYC and digital payments have made the entire sales process much easier.

AI has helped develop financial processes and products that run on robust analytics. They provide better monitoring, control and flexibility, as well as a better understanding of the results. Advances in natural language processing (NLP) and speech recognition technology have aided in the development of voice bots, which will soon become an integral part of BFSI’s customer service strategy.

It is believed that AI and predictive analytics will continue to be in vogue in the coming years as well. Apart from this, insurance companies will seek to strengthen processes such as claims settlement and underwriting with the help of technology. At Shriram Life, we can resolve untimely death claims in remote rural areas within 12 hours. The focus will remain on improving TATs and developing robust processes throughout the customer journey.

• Product development

1. Customers want better personalization and purpose-built products.

With the change in the insurance landscape and the adoption of technology, customer expectations of insurance products have completely changed. While traditional products will continue to be relevant, there has been a huge increase in demand and focus on solutions based on customer needs. Insurance companies are looking for new categories of customers and there is a growing need to innovate and customize products for these segments. The growing interest in insurance among young people has also led to a change in product development, as young people seek more value when buying insurance products.

• IRDA perspective on recent developments

The regulator has taken some proactive steps to accelerate the growth of the industry. Various regulatory requirements have been simplified, while guidelines have been relaxed to allow for capital appreciation, among other things. Recent moves, such as the expansion of distribution agreements for corporate agents, will allow insurance companies to offer more products, thus giving customers more choice.

• Expectations from the year 2023

There is a lot of potential for growth in insurance in India. The sector is constantly innovating and adopting technology to reach new markets and the prospects for the coming years are very positive. The industry has recovered a good pace after the pandemic and we expect the growth trend to continue. Although some macroeconomic factors have impacted recent growth and cannot be ignored, the overall outlook for the industry looks positive.

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Jammu Kashmir Rajouri Terrorist attack 4 dead 6 injured minorities…




Rajouri terrorist attack: Two armed terrorists fired indiscriminately around 7:00 p.m. this Sunday in the Upper Dangri area of ​​Rajouri, Kashmir, killing four people. Six others were injured in the attack. According to eyewitnesses, both terrorists attacked 3 minority houses near the temple in the Upper Dangri area, 8 km from Rajouri.

Eyewitnesses say that the terrorists allegedly attacked three houses here after seeing the Aadhaar card. Those killed in the attack have been identified as Pritam Sharma, his son Ashish Kumar, Deepak Kumar and Sheetal Kumar.

2 wounded were airlifted

Of the 6 people injured in this terrorist attack, 2 have been airlifted to Jammu. Several political and social organizations have called a bandh on Monday in Rajouri to protest against the attack. On the other hand, the security forces have carried out an exhaustive search operation in the area since Sunday night to arrest the terrorists.

condemned political parties

Where the Bharatiya Janata Party has resolved to eliminate terrorism from the Union Territory. At the same time, Congress called the incident “very serious” and exposed the government’s claims to improve the security situation in the Union Territory.

Congressional goal of government

The Congress spokesman said: “Congress strongly condemns the terrorist attack in Rajouri. The incident is very serious and shocking. It exposes the government’s claims to improve the security situation in the Union Territory.” The spokesman further said that the government has failed to protect minorities, first in Kashmir and now in Jammu.

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Farmers can earn thousands of rupees by growing poplars




poplarsAgriculture is the economic backbone of the country. A large population is associated with this profession to carry out their daily lives. Wheat, corn, rice, oilseeds, legumes are the traditional crops. Farmers earn by planting them. Farmers also earn lakhs of rupees from horticultural crops. Experts say that in addition to traditional crops, farmers can earn thousands of rupees in profit. Today we are going to talk about such a crop. The cultivation of popular trees has increased in the country. People are demanding this not only in the country but in the world. The wood of this tree is sold at a high price in the market.

Popular needs that land

It is necessary to have a fertile soil for poplar plants. Planting trees in agriculture with organic elements improves agriculture. Poplar plants should not be planted in soil that is alkaline in nature. The pH value of the soil should be between 5.8 and 8.5. The temperature should be 18 to 20 degrees for planting. Popular trees grow well at a maximum temperature of 45 degrees and a minimum of 10 degrees. Tree development is best in a minimum temperature of 10 degrees and a maximum temperature of 45 degrees.

Plant a popular tree like this

Poplars have deep roots. Deep plowing is fine for this. Leaving water in the field after plowing. After getting out of the water, plow the field two or three times with a rotavator. After this, level the field with the machine. There must be a distance of 5 meters while preparing the line on the field. Transplant the plants in rows 5-6 meters apart into prepared 1-meter-deep holes. Popular trees are good from January to February. The period between February 15 and March 10 is best for transplanting poplars.

You can earn 10 lakh rupees on one hectare

Poplar saplings are not very expensive. But when it comes to selling, its price is very high. Experts say that the price of wood from popular trees is 700 to 800 rupees per quintal. 250 trees can be planted on one hectare. The average height of a tree is about 80 feet. One can earn up to Rs 8-10 lakh from a popular tree in 1 hectare. In the country, a large number of farmers from Bijnor of Uttar Pradesh are involved in the cultivation of folk. Popular countries and abroad can be shipped from here.

Disclaimer: Some of the information provided in the news is based on media reports. Brother farmers, before implementing any suggestion, consult the expert in question.

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The first match of the series of 3 T20 Match between India and Sri Lanka with…




IND vs SL 1st T20 Playing XI & Pitch Report: 3 series of T20 matches will be played between India and Sri Lanka. After this T20 series, an ODI series will be played between the two teams. However, the first match of the 3 T20 series will be played on Tuesday at the Wankhede Stadium in Mumbai. The captain of the Indian team in this series will be the versatile Hardik Pandya. Earlier, the India team had to face defeat in the semi-final match of the T20 World Cup. Apart from this, Sri Lanka’s performance in this tournament was also disappointing.

Will Wankhede’s wicket be friendly?

The first T20 match of the series between India and Sri Lanka will be played at Wankhede Stadium in Mumbai. Speaking of the Wankhede wicket, it’s a great wicket to bat at. After landing on this pitch, the ball comes to bat fast. Because of this, he is easy to hit. Apart from this though, there is help for the bowlers at the Wankhede wicket. Especially, fast bowlers get help at the wicket from Wankhede. Apart from this, fast bowlers get swing and good movement.

Possible XI of Team India for the first match of T20-

Ishan Kishan (week), Shubman Gill, Suryakumar Yadav, Deepak Hooda, Hardik Pandya (c), Sanju Samson, Washington Sundar, Harshal Patel, Yuzvendra Chahal, Arshdeep Singh and Umran Malik

Sri Lanka’s possible XI for the first match of T20-

Pathum Nissanka, Kusal Mendis (week), Avishka Fernando, Charit Aslanka, Bhanuka Rajapaksa, Dasun Shanaka (c), Wanindu Hasaranga, Chamika Karunaratne, Mahesh Theekshana, Lahiru Kumara and Dilshan Madushanka

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