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Business Economy


Bajaj Allianz Life unveils country’s first ever Life Goals Preparedness Survey

Chandigarh, Sep 18 (UNI) Bajaj Allianz Life Insurance Company Limited, one of the leading private life insurance companies in the country, on Wednesday unveiled the first of its kind survey on country's Life Goals Preparedness Survey here which showcased the new age goals of Indian Millennials, as well as provided insights as to how young India is preparing to achieve its unconventional life goals.
Speaking on the occasion Mr. Sameer Joshi, Chief Agency officer, said, “The aim behind doing an in-depth survey was to have a clear understanding what new age India is perceiving as their life goals, and how they are preparing to achieve them. There is no doubt that young India wants to achieve unconventional goals and interestingly for us we have understood that they are keen to achieve early retirement goals, amongst others. We are confident that with our value packed products and strong investment philosophy, we will be able to become a strong partner and life goals enabler for anyone looking at getting their early retirement goals done.”
He said Over 150 life goals of the millennials were mapped in this survey but Indians cited on an average five life goals enterpreneurship, health & fitness, early retirement, travel and giving back to society that they wish to achieve in their lifetime. North India (comprising of three cities, namely Delhi, Ludhiana and Bareilly) reflected a similar trend and interestingly, the survey also highlighted that millennials no longer wanted to play it safe, but were also keen to achieve goals that are unconventional, he added.
Elaborating on the life insurance scenario in the country Mr Joshi said earlier, people used to choose life insurance for tax planning but the perception is now changing however, slowly but steadly as they are now thinking about insurance keeping in view rising cost of life and risks percieved. However the penetration level of life insurance is quite low and merely about four across the public and private sector insurance companies.
Continuing on its growth trajectory, the company clocked an impressive 25 per cent growth in individual rated new business premium in FY2018-19 which was higher than the industry which grew by 9 per cent and the private life insurers’ that grew by 12.5 per cent. The Gross Written Premium (GWP) for Bajaj Allianz Life increased by 17 per cent, at Rs 8,857 crore in FY2018-19 from Rs 7,578 crore in FY2017-18. The insurer’s renewals premium increased to Rs 3,934 crore in FY 2018-19, as compared to Rs 3,287 crore in FY2017-18, a growth of 20 per cent.
In Punjab, the company, achieved a milestone by registering 156 per cent growth in New Business Premium in Punjab region in FY18-19 over the corresponding period last year. The company recorded new business premium of Rs. 130 crore in FY18-19 as compared to Rs 51 crore in FY17-18.
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US, COICA, and EMA team up for Artists United for Amazonia Livestream Global Event

28 May 2020 | 7:20 PM

HOLLYWOOD, California, May 28, 2020 /PRNewswire/ - On May 28, 2020, Sting, Barbra Streisand, Jane Fonda, Morgan Freeman, Carlos Santana, Dave Matthews, Jane Goodall, Jeff Bridges, Peter Gabriel, Herbie Hancock, Trudie Styler, Cara Delevingne, Brazilian Grammy winners Ivan Lins and Luciana Souza, as well as numerous others, will join indigenous leaders, scientists, and a broad coalition of NGOs in hosting Artists United for Amazonia: Protecting the Protectors, a global livestream benefit. The event is being produced by Artists for Amazonia. The two-and-a-half-hour event, to run from 8pm to 10:30pm ET, will be hosted by activist, actress, and "Game of Thrones" and "Avatar" sequel co-star Oona Chaplin, with closing remarks by Barbara Streisand. The livestream will be available via Facebook and artistsforamazonia.org.

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SGS Becomes an Approved Assessment Body for the Quality Council of India

28 May 2020 | 7:20 PM

MUMBAI, May 28, 2020 /PRNewswire/ - SGS is pleased to announce that it has been approved by the Quality Council of India (QCI) as an assessment body for its Workplace Assessment of Safety and Hygiene (WASH) scheme. With this authorization, SGS can undertake assessments of workplaces under the WASH scheme of QCI.

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Trina Solar recognized as a "Top Performer" module manufacturer for sixth consecutive time

28 May 2020 | 7:20 PM

CHANGZHOU, China, May 28, 2020 /PRNewswire/ - Trina Solar Co., Ltd ("Trina Solar" or the "Company"), the world's leading PV and smart energy total solution provider, has been recognized as a "Top Performer" for outstanding product reliability and performance among global PV module manufacturers by PV Evolution Labs (PVEL), the leading independent test laboratory for the global downstream solar industry.

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DERMALOG Temperature Check: Greater Safety for Medical Practices

28 May 2020 | 7:20 PM

FRANKFURT and HAMBURG, Germany, May 28, 2020 /PRNewswire/ - With its Fever Detection Camera, DERMALOG has developed a solution that measures body temperatures fast and accurately when walking by and can significantly reduce the risk of infection spreading in many areas. General practitioner Matin Safi has chosen the Hamburg-based company's system as part of his hygiene concept.

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Frost & Sullivan Reveals Leading Innovators in the Australian Data Center Market

28 May 2020 | 7:14 PM

SANTA CLARA, California, May 28, 2020 /PRNewswire/ -- Frost & Sullivan's Australian Data Center Industry Radar has identified that organizations' strict requirements of data confidentiality and complete management control of their operations will push the demand for data center services in the country for the next five years. This has strongly encouraged hyperscale cloud vendors, large enterprises, and highly regulated verticals (banking, financial services, and insurance) to invest in the Australian data center market.

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