Latest news with #HDFCERGO
News18
5 days ago
- Business
- News18
HDFC ERGO partners with PhonePe to offer affordable health insurance solution
Agency: New Delhi, Aug 13 (PTI) HDFC ERGO General Insurance Company on Wednesday said it has forged a partnership with PhonePe to launch an affordable health insurance solution designed to serve the 'missing middle'. HDFC ERGO's partnership with PhonePe is a strategic move, as it brings together a trustworthy digital-first insurer and a digital payment platform, a joint statement said. By tapping into the digital infrastructure of PhonePe, the 'missing middle' of India now will have easy access to HDFC ERGO's comprehensive health insurance at an affordable premium, it said. Affordable premiums start at Rs 12 per day (or about Rs 4,380 per year) for Rs 3 lakhs coverage and other benefits, it said, adding, the policy can be purchased and issued through the PhonePe app. The policy primarily caters to individuals aged 18-30 years, many of whom are first-time insurance buyers, it added. PTI DP DRR view comments First Published: August 13, 2025, 13:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
04-08-2025
- Health
- Economic Times
61% young buyers want health insurance, 37% see cashless network as important factor, finds HDFC Ergo report
NEED FOR HEALTH COVER Responses from both Gen Z and millennials indicate that: 61% prefer buying health insurance. prefer buying health insurance. 37% consider network of hospitals connected with insurer. consider network of hospitals connected with insurer. 24% want clear and easy policy terms and conditions. CONSUMER EXPECTATIONS GENDER PREFERENCES Áfter Covid, Gen Z and millennials have shown a growing desire to buy health cover, consider one or more of these factors:Expected size of the Indian health insurance market by 2030, according to a Grand View Research share of Gen Z and millennials in India's total population by 2030 is higher than expected global average of 46%, as per Indeed-Nasscom Future of Work expectations regarding the services offered by insurers vary across cities, but they prioritise one or more of the following:Female respondents choose their insurance provider based on one or more of the 404 respondents who had a health cover, easy policy renewal was a preference for...'HDFC ERGO Exploring the Millennial and Gen Z Mindset' report. The study was conducted by NielsenIQ among 1,400 individuals, including Gen Z and Millennials, of whom 70% were men and the rest women. Figures don't add up to 100% due to multiple responses. *Response from 560 participants
Time of India
31-07-2025
- Business
- Time of India
Ergo to Invest €130 Million in GenAI, Leans on India for Global Tech Push
Mumbai: German insurer Ergo will invest over €130 million over the next five years to build its generative AI (GenAI) infrastructure, with its India operations playing a key role in the group's global technology transformation. The investment will fund the development of core AI capabilities across markets and support the company's ambition to become the leading digital insurer in its core geographies by 2025. 'This is purely a technology investment—building the infrastructure for GenAI. It does not include operating costs or manpower,' said Mark Klein, Chief Digital Officer of Ergo Group. 'We are in the process of scaling AI across all key processes in multiple countries. The time for pilots is over. These systems now have to deliver measurable business value.' Klein added that Ergo has already deployed over 110 AI algorithms across business functions, and is focused on expanding these use cases across seven European markets. 'Scaling is essential. AI doesn't come cheap. If you don't reuse assets and deploy solutions across markets, you will never arrive at a sustainable business case,' he said. India has emerged as a crucial hub for the group's technology operations. Ergo's technology services arm in Mumbai, which employs over 600 professionals, acts as a global capability center for the group. 'We are coming more into a global delivery model, and India offers a clear opportunity,' Klein said. 'India is becoming more and more important for us, not just as a growing market, but as a source of young, tech-savvy talent. The infrastructure here, including the Indian Stack, enables us to implement digital innovations faster than in Europe.' Klein credited HDFC ERGO, Ergo's Indian joint venture, with pioneering several of the group's technology initiatives. 'In 2016, India was the first to implement a robot in our group. I took that back and by 2017 we had deployed robots across our operations. Today, we run over 500 bots globally,' he said. 'We have a Champions League across our markets based on KPIs like digital sales and process automation. India consistently ranks in the top two. ' Parthanil Ghosh, Director at HDFC ERGO, said the company is not only adopting global tech but also driving innovation within the group. 'We have completely overhauled our core systems using Duck Creek, a low-code, modular platform. It allows us to launch new products faster and meet regulatory requirements more efficiently,' he said. Ghosh added that HDFC ERGO has put generative AI into production for several use cases, including underwriting assistance and SME quote generation. 'We built a platform called HEIQ, which takes unstructured data from brokers and generates quotes in under three minutes. This is a live solution, not a proof-of-concept,' he said. The company has also partnered with IIT Bombay to build secure small language models (SLMs) tailored to its business. 'We can't risk exposing our customer data to public models. So we built proprietary SLMs over foundational models like ChatGPT or Gemini in a fully secure environment,' Ghosh said. Klein said these innovations are being closely watched by the group. 'We regularly benchmark our markets, and HDFC ERGO's implementation of core system upgrades and GenAI is being tracked across the group. What they are doing is not just best practice for India—it's becoming best practice for Ergo globally.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
26-06-2025
- Business
- Time of India
Inside Bezos-Sánchez wedding: Billionaire romance anchored by $500M Superyacht Koru
As billionaire entrepreneur and Amazon founder Jeff Bezos readies to tie the knot with fiancée Lauren Sánchez in a star-studded ceremony in Venice, attention has once again turned to one of the world's most extravagant personal vessels—the superyacht Koru . Arriving in Italy aboard the grand sailing yacht, Bezos was seen alongside Sánchez at the historic Aman Hotel, heightening anticipation for what is being described as one of the most glamorous weddings of the year, as mentioned in a report by USA Today. Largest Sailing Yacht in the World Koru, built by Dutch shipyard Oceanco, holds the distinction of being the largest sailing yacht globally, measuring an estimated 417 feet in length. The three-masted schooner is painted in a signature midnight blue, featuring three jacuzzis, an expansive pool on the upper deck, and multiple viewing levels. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tap into health protection with just a click! Buy HDFC ERGO Get Quote Undo The masts, towering at around 230 feet, are comparable in height to the Great Pyramid of Giza. Originally mired in controversy due to plans to dismantle a historic Rotterdam bridge to facilitate its transfer, the vessel was ultimately delivered to Mallorca in 2023 after its masts were transported separately to avoid public backlash. The Meaning Behind 'Koru' The yacht's name, Koru, derives from the Māori word symbolizing a spiral, referencing new beginnings, renewal, and personal growth. Bezos, 61, reportedly selected the name to reflect a fresh chapter in life, now marked by his relationship with Sánchez, a 55-year-old former TV journalist. Live Events A support vessel accompanies Koru , aptly named Abeona, after the Roman goddess associated with departures and safe travels. Artistry and Design The yacht's design is a product of Dykstra Naval Architecture, while the interior has been curated by Mlinaric Henry & Zervudachi. The décor blends natural wood tones with warm neutral palettes and bespoke textiles, lending a sense of timeless elegance, Oceanco confirmed. There was speculation about the yacht's figurehead resembling Sánchez. However, she clarified in a 2023 Vogue interview that it actually depicts Freyja, the Norse goddess of love and war—one of Bezos's favorite mythological figures. Proposal Aboard the Koru Bezos proposed to Sánchez on board Koru during a romantic voyage at the 2023 Cannes Film Festival, where he hid a pink diamond engagement ring under her pillow. The intimate moment, as described by Sánchez, left her momentarily overwhelmed. Wedding of the Season in Venice While the couple remains discreet about the exact date, reports indicate the three-day wedding celebration will take place between June 26 and 28, attended by nearly 200 guests. High-profile figures such as Oprah Winfrey, Diane von Furstenberg, Salma Hayek, Mick Jagger, Ivanka Trump, and Kim Kardashian are expected to join the festivities. The Bezos-Sánchez nuptials follow a trend of elite weddings in Venice, joining the likes of George and Amal Clooney and Salma Hayek and François-Henri Pinault. FAQs What is the occasion involving Jeff Bezos and Lauren Sánchez? Jeff Bezos, Amazon founder and billionaire entrepreneur, is preparing to marry his fiancée Lauren Sánchez, in a star-studded, three-day wedding ceremony in Venice, Italy. When is the wedding scheduled to take place? While the exact date has not been officially confirmed, reports suggest the wedding celebrations will span from June 26 to June 28, 2025.
Time of India
26-06-2025
- Business
- Time of India
Pound hits 2021 high against dollar as Trump eyes new Fed boss
The dollar deepened losses against the pound Thursday after President Donald Trump lined up candidates to succeed Federal Reserve boss Jerome Powell , fuelling bets of cuts to US interest rates. The British currency climbed to $1.3765, the highest level since October 2021, while the greenback fell also against the euro. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Search Ends Here for Better Health Insurance Plans. Buy Now. Buy HDFC ERGO Get Quote Undo
