Latest news with #847
Time of India
17-07-2025
- Business
- Time of India
Insurtech funding set to top $1 billion in 12 months
Private funding in the insurance technology or Insurtech sector is forecast to exceed $1 billion in the next 12 months after past few years of moderation, said a report released at India Insurtech Summit 2025 on Thursday. The funding for 2024 stood moderated to $239 million from $497 million a year ago. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Others Operations Management PGDM Leadership Healthcare Design Thinking healthcare MBA Product Management Public Policy Management Cybersecurity Degree Finance others Project Management Data Science MCA Data Analytics CXO Digital Marketing Technology Data Science Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details After peaking at $820 million in 2021 on the back of aggressive expansion and strong investor enthusiasm, the funding has moderated. This is because the sector transitioned to a quality-focused growth and as global economic factors encouraged more disciplined capital allocation, according to a report jointly prepared by Perfios, a global B2B software-as-a-service company working in the BFSI sector and fintech and advisory firm The Digital Fifth. 'There is currently a clear gap in funding for tech stack companies and claims solutions — areas that are essential for driving efficiency and enhancing customer experience, and which should see significant growth in the coming years,' said the report. The report also said that India's insurance penetration , which had got a boost from the COVID pandemic, declined below 4% mainly because of drop in uptake of life insurance, according to the report. Insurance penetration fell to 3.7% in FY24, after staying above 4% for preceding three fiscals. The number for the life insurance segment fell to 2.7% in FY24 from 3% a year ago, while it remained 1% for the non-life segment. This signals an enormous protection gap, especially in health, life, and micro-insurance categories, the report said. While penetration declined, insurance density improved slightly, with per capita premium rising from Rs7,847 in 2022 to Rs8,103 in 2023, led by the non-life segment, said the report. The report said that a slew of regulatory initiatives like National Health Claims Exchange (NHCX) and the upcoming Bima Sugam platform are laying robust digital rails for insurance innovation. In addition, the Digital Personal Data Protection Act (DPDPA) is expected to enhance customer data and consent-based experiences.
TimesLIVE
20-06-2025
- Automotive
- TimesLIVE
Honda-backed Helm.ai unveils vision system for self-driving cars
Honda Motor-backed on Thursday unveiled its camera-based system to interpret urban environments, dubbed Vision, and said it was in talks with other carmakers to deploy its self-driving technology in mass market vehicles. is working with the Japanese carmaker to integrate its technology in the upcoming 2026 Honda Zero electric vehicles, which will allow users to drive hands-free and take their eyes off the road. "We're definitely in talks with many OEMs and we're on track for deploying our technology in production," CEO and founder Vladislav Voroninski told Reuters. "Our business model is essentially licensing this kind of software and also foundation model software to the carmakers." The California-based startup's vision-first approach aligns with Elon Musk's Tesla, which also relies on camera-based systems as alternate sensors such as lidar and radar can increase costs. However, Voroninski said while has foundation models that work with other sensors, its primary offering remains vision-focused. Industry experts said other sensors are critical to safety as they can act as backup for cameras, which are known to underperform in low-visibility conditions. Robotaxi companies such as Alphabet's Waymo and May Mobility use a combination of radar, lidar and cameras to perceive their surroundings. has raised $102m (R1,839,466,847) to date and counts Goodyear Ventures, Korean car parts maker Sungwoo HiTech and Amplo among its investors. Vision combines images from many cameras to create a bird's-eye view map, which helps improve the vehicle's planning and control systems, the company said. The system is optimised for several hardware platforms made by Nvidia and Qualcomm. This enables carmakers to incorporate Vision into their existing vehicle systems, which include their own technologies for predicting and planning vehicle movements.
Business Standard
09-06-2025
- Business
- Business Standard
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
VMPL New Delhi [India], June 9: Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd ("Axis Max Life"/ "Company"), has announced a Participating (PAR) bonus of Rs2,135 Crore for eligible policyholders for FY24-25. This marks the Company's 23rd consecutive annual bonus and takes the cumulative bonus declared over the past 23 years to Rs15,847 Crore*. The declared bonus will enhance the corpus of more than 21 lakh eligible PAR policyholders, beginning July 2025. Axis Max Life continues to drive long-term value through a disciplined investment strategy and prudent fund management--reflected in the PAR Fund** growing from Rs67,722 Cr. in FY24 to Rs74,119 Cr. in FY25, a CAGR of ~19% over the past decade. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "This year's bonus declaration reflects our steady commitment to delivering sustained value for policyholders through prudent and disciplined fund management. In a volatile macro environment, our PAR Fund has continued to demonstrate resilience driven by strong asset quality and consistent performance. With enhanced bonus options and built-in liquidity, we're enabling customers to navigate their evolving financial priorities with confidence and flexibility." Axis Max Life operates one of the largest PAR Fund among Indian private life insurers and remains one of the few companies offering customers the flexibility to choose from multiple bonus options--Cash Bonus, Accumulated Bonus, Paid-Up Additions (PUA), and Premium Offset--along with liquidity through partial withdrawals of bonuses without affecting the Basic Sum Assured. The Axis Max Life PAR Fund has delivered consistent debt returns in the 7.4%-8.4% range over the last five years, backed by the steady performance of its debt assets. Axis Max Life continues to strengthen its PAR product portfolio through innovative offerings like the Smart Wealth Income Plan, Smart Wealth Advantage Growth Par Plan, Whole Life Super, Monthly Income Advantage Plan, and Savings Advantage Plan combining liquidity, protection, and retirement benefits--expanding its reach across customer segments seeking both growth and stability. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
