Latest news with #Sarkar
Time of India
a day ago
- Business
- Time of India
New-age life insurance firms tap group products to boost business
New-age life insurers Acko, Go Digit and CreditAccess, all of whom received life insurance licences in 2023, are betting on group products to drive premium collection and the business. According to data from industry body Life Insurance Council, Acko Life Insurance 's premium collection almost doubled to Rs 63 crore in fiscal 2025, compared with Rs 36 crore in FY24. Go Digit Life recorded Rs 1,068 crore in FY2025 compared with Rs 426 crore a year back. Credit Access Life Insurance recorded Rs 193 crore in insurance premium compared with Rs 97 crore the previous year. This was the first full year of operations for these new-generation life insurance companies. Both Acko and Go Digit had the general insurance licence prior to that. While Go Digit is a publicly listed company now, Acko is privately held and was last valued at $1.4 billion in a funding round in 2023 . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo 'Most of these new-generation companies have sold group life covers in their first financial year, which has helped them to bulk up premium collection quickly. It also helps set the internal and sales processes quickly,' a senior executive at an insurtech startup said on the condition of anonymity. Under group products, life insurance companies typically sell employer-employee life covers and also club insurance covers to credit customers. Live Events 'Our initial focus was on group products, leveraging the quicker setup of servicing and sales infrastructure. Today, we have a balanced mix of both group and retail products, with plans to expand both segments equally,' Go Digit Life Insurance chief executive officer Sabyasachi Sarkar said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Go Digit Life has four retail products and three group products and is hoping to scale up both businesses in the coming quarters, Sarkar added. The new-generation insurance companies had adopted a retail-first approach for their general insurance business. Both Go Digit and Acko had focused on retail automobile insurance as the key product to scale up their business, but for life business they have gone the group business route. The industry executive cited earlier in the story pointed out that for the life insurance play, it is always easier to disrupt the group market because most of the business there is pricing driven and also is up for renewal every year. 'For products like life, customer trust is the key, building that takes time, hence one way of getting into the market is through employer-employee products where consumers will get to know the brand, experience the claims settlement process and eventually start trusting the brand,' the executive said. In general insurance, these startups had disrupted the business with strong use of technology and also by adding direct sales as a large part of their business, without depending fully on agents and broker networks. 'Employer-employee products are a focus area for us. Digit Life in its first full year of operations (FY25) has clocked over Rs 1,300 crore gross written premium,' Sarkar of Go Digit told ET. But these brands are likely to face much bigger challenges in the life business, according to industry insiders. 'I think new-age life insurance companies will need to invest heavily in customer experience, ensure smooth claim settlement processes to give confidence to customers and also work very closely with the regulator,' said Vivek Ramji Iyer, partner in charge of financial services at Grant Thornton Bharat. To quickly build trust during the purchase process, startups can invest in creating a claims settlement simulation process, Iyer said. 'They should also target rural areas to increase penetration of insurance cover, for that they can look to partner with common service centres in rural India.'
Time of India
a day ago
- Business
- Time of India
New-age life insurers tap group business opportunity in their first year of ops
New-age life insurers Acko, Go Digit and CreditAccess, all of whom received life insurance licences in 2023, are betting on group products to drive premium collection and the business. According to data from industry body Life Insurance Council, Acko Life Insurance 's premium collection almost doubled to Rs 63 crore in fiscal 2025, compared with Rs 36 crore in FY24. Go Digit Life recorded Rs 1,068 crore in FY2025 compared with Rs 426 crore a year back. Credit Access Life Insurance recorded Rs 193 crore in insurance premium compared with Rs 97 crore the previous year. This was the first full year of operations for these new-generation life insurance companies. Both Acko and Go Digit had the general insurance licence prior to that. While Go Digit is a publicly listed company now, Acko is privately held and was last valued at $1.4 billion in a funding round in 2023. 'Most of these new-generation companies have sold group life covers in their first financial year, which has helped them to bulk up premium collection quickly. It also helps set the internal and sales processes quickly,' a senior executive at an insurtech startup said on the condition of anonymity. Under group products, life insurance companies typically sell employer-employee life covers and also club insurance covers to credit customers. Live Events 'Our initial focus was on group products, leveraging the quicker setup of servicing and sales infrastructure. Today, we have a balanced mix of both group and retail products, with plans to expand both segments equally,' Go Digit Life Insurance chief executive officer Sabyasachi Sarkar said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Go Digit Life has four retail products and three group products and is hoping to scale up both businesses in the coming quarters, Sarkar added. The new-generation insurance companies had adopted a retail-first approach for their general insurance business. Both Go Digit and Acko had focused on retail automobile insurance as the key product to scale up their business, but for life business they have gone the group business route. The industry executive cited earlier in the story pointed out that for the life insurance play, it is always easier to disrupt the group market because most of the business there is pricing driven and also is up for renewal every year. 'For products like life, customer trust is the key, building that takes time, hence one way of getting into the market is through employer-employee products where consumers will get to know the brand, experience the claims settlement process and eventually start trusting the brand,' the executive said. In general insurance, these startups had disrupted the business with strong use of technology and also by adding direct sales as a large part of their business, without depending fully on agents and broker networks. 'Employer-employee products are a focus area for us. Digit Life in its first full year of operations (FY25) has clocked over Rs 1,300 crore gross written premium,' Sarkar of Go Digit told ET. But these brands are likely to face much bigger challenges in the life business, according to industry insiders. 'I think new-age life insurance companies will need to invest heavily in customer experience, ensure smooth claim settlement processes to give confidence to customers and also work very closely with the regulator,' said Vivek Ramji Iyer, partner in charge of financial services at Grant Thornton Bharat. To quickly build trust during the purchase process, startups can invest in creating a claims settlement simulation process, Iyer said. 'They should also target rural areas to increase penetration of insurance cover, for that they can look to partner with common service centres in rural India.'
Business Insider
2 days ago
- Business
- Business Insider
A Michelin-starred chef shares the menu-building strategies he uses to navigate rising food costs
Behind the plush seats and pastel-pink interior of Chicago's first Michelin-starred Indian restaurant — and one of the rare Indian fine-dining tasting menus in the US — was a risk. While restaurants continued to shutter or pivot in 2022 because of COVID-19, Indienne opened its doors. "That was, I think, the biggest risk I've taken," said Sujan Sarkar, Indienne's chef and co-owner, who has more than 22 years of experience opening and managing restaurants around the world. Sarkar told Business Insider that throughout the pandemic, the restaurant's vision — to spread a new Indian-food movement backed by high-end, flavorful dishes — stayed the same. "It can be profitable," he said. "We can build a successful business if we are consistent." But today's turbulent market, while different from the pandemic's, presents fresh challenges. The Economic Research Service's Food Price Outlook predicts that food costs will increase by 3.5% in 2025, and supply chains show no sign of easing up anytime soon. As inflation continues to grip the US and tariff negotiations remain in flux, causing companies to hike their prices, restaurant owners are preparing to face the brunt of the economic pressures. And while the industry has been battle-tested in the past, fine-dining leaders are perhaps at a crossroads: Shut down, pivot, or stay the course? For Sarkar, it's all about sticking to what's worked in the past. "We have to be sensible about everything, because the diners who are coming to dine in our restaurant are coming for something that we are known for," Sarkar said. "We are seeing that people are really appreciating what we do, and that's why the business is also sustainable, even though the cost is rising." BI spoke with Sarkar about his plans for navigating economic pressures and how fine dining could adapt to stay ahead. Sujan Sarkar: We run four different tasting menus. We have nonvegetatian, vegetarian, vegan, and pescatarian. With the vegan menu, my cost is lower than the nonvegetarian menu because of no protein. Our vegetarian and vegan menus do not include caviar, scallops, or lamb. When diners choose these menus, the price is only a $10 or $15 difference from the nonvegetarian menu. But when they opt for this, my profitability goes up because the food costs are lower. We also always offer a supplement course that people can add to their tasting for $15 to $24 extra. I don't do last-minute makeshift dishes. So if you read a menu before you come, it's much easier for you and for me as a business. When we have the planning in place, we can control the cost. If my restaurant is full, I can manage because I know how much business we'll do, and my forecasting is much easier. I also have four other restaurants in the city. We share a lot of resources, and that also helps us cut costs. How does simplicity and seasonality play into how adaptable you've been as a restaurant? An example is how we work with farmers to get baby corn. I purchase a guaranteed minimum quantity of baby corn every week so I can get better pricing and farmers can have secure revenue. It's local and seasonal, which keeps my costs down and also gives the farmers business. We don't grow a lot of vegetables here in the winter, so I have to rely on people from California who can get them. But I can't only give them business in the winter — there isn't a written contract, but there's an understanding that I will give them yearlong business. So they are also doing things for us, like sourcing baby vegetables, micro herbs, and edible flowers. That way, the menu can be consistent, and we can set its cost. Restaurants are going from highly priced menus to something affordable. We did just the opposite. We used to do a tasting and an à la carte menu when we started, but now we are only a tasting restaurant. We are not creating a lower-priced menu to attract more diners. But almost a month ago, I opened a new restaurant called Nadu, where you can get food that is only à la carte. We just took a different route at Indienne, but the people going appreciate that more because they know exactly what they're coming and paying for. We're getting an overwhelming response. It's still Indian food, but a much simpler version. Still, everything is cooked in-house, everything is flavorful, but now it's as close to our traditional Indian dishes as possible. What advice would you give to emerging chefs or restaurateurs trying to build something ambitious in a time when margins may be tighter than ever? I've waited almost 21 years to open Indienne. I could have opened before — I opened restaurants in so many different countries and all over America — but you have to be sure about what you're doing. It's not only about you when you open a restaurant. There are a lot of people who are going to trust you. If you fail, they fail as well. You may be good at cooking, but that's only 30% of any restaurant. You have to learn so many other things. Your people-management skills, your accounting skills, your interpersonal skills, your PR — everything comes into play. The restaurant business is very volatile, and the profit margin is getting limited every day. It's not easy, but just wait for the right time and get the right people by your side: investors, teammates, your mentor — everyone.
New Indian Express
7 days ago
- New Indian Express
Class 8 dropout posing as doctor, running clinic arrested in Odisha
BERHAMPUR: Aryapalli Marine police in Ganjam district on Tuesday arrested a 40-year-old man for posing as a doctor and providing medical diagnosis to gullible patients without necessary qualification. The accused is Prasannajeet Sarkar, a Class VIII dropout of Bishnupur village in 24 Parganas of West Bengal. Police seized medical equipment and certificates, believed to be forged, from Sarkar's clinic at Gandhi chowk in Sana Aryapalli village. Sources said police were informed that Sarkar was pretending to be a doctor and treating patients at the clinic. He was reportedly performing minor operations and collecting hefty fees from patients. He was also selling medicines at his clinic. To verify the claims, a police team led by Marine IIC Bidya Bharati Nayak reached the clinic and found the fake doctor examining a patient with stethoscope. When the IIC asked Sarkar to show his credentials, he failed to produce any document. Police said during interrogation, Sarkar broke down and admitted that he had no licence to practice medicine and was posing as a doctor since many years and treating patients. Sarkar revealed that after failing in Class VIII, he left home and reached Madhya Pradesh where he worked in a clinic owned by a Bengali doctor. In 2021, he came to Aryapalli and opened his own clinic. Police seized the unlawfully stored medicines worth of over Rs 1 lakh and medical equipment from the clinic in presence of witnesses. A case was registered in this connection. Sarkar was arrested and produced in the court in the evening. The IIC said investigation is underway to ascertain for how long the accused was operating as a fake doctor. Besides, police are verifying the genuineness of Sarkar's Aadhaar and voter cards which he had prepared during his stay in Aryapalli. All such clinics operating the jurisdiction of Marine police station would be verified, she added.
Time of India
27-05-2025
- Entertainment
- Time of India
Summer releases vacation more fun for kids
1 2 3 4 5 6 Kolkata: This May, children's cinema has become a talking point in Bengal. The latest instalment in the 'Eken' franchise — Joydeep Mukherjee 's 'The Eken: Benaras e Bibhishika' — has seen back-to-back houseful shows at both single screens and multiplexes with families queuing up in large numbers. Meanwhile, Saurav Palodhi's 'Onko Ki Kothin', another Bengali film featuring child protagonists, made headlines due to piracy. The producer has approached the Kolkata Police commissioner to digitally trace those responsible for this violation of the film, which was screened as part of the Indian Panorama at the latest edition of IFFI. City's exhibitors are delighted with the response. Suranjan Paul, owner of Minar and Bijoli, described this 'Eken' film as a 'shooting star'. "It came and quietly became a big sensation with a barrage of queries from film lovers about show timings. We had one show each at each theatre. In the first week, the shows were houseful within minutes of opening the booking counter," Paul said. The film's director told TOI that this is the first instance of a book being adapted into a series and then being adapted into a feature film. "Even Sujan-da (author Sujan Dasgupta) used to say that most started reading his books after the series became a hit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Stoke-on-trent: If You Were Born Between 1940-1975 You Could Be Eligible For This Life Cover Reassured Get Quote Undo During summer holidays, a lot of kids came to watch the film. Added to that was the surprise footfall of teenagers who are otherwise hooked on Marvel comics and 'Mission Impossible' kind of movies," Mukherjee said. Interestingly, the Eken franchise has slowly been tailored to appeal to children. "The original book was not written for kids. We tailored it into child-friendly content when kids started liking it. Eken Babu used to smoke earlier, but now he doesn't. This film doesn't have any gory depiction of violence or use of slang, leading to its acceptance among children, teenagers, and the elderly as well," said actor Anirban Chakrabarti who plays Eken Babu in the film. "The film's release has reignited enthusiasm in single screens across Bengal — many of which are seeing houseful shows after a long time," said Soumya Mukherjee, COO of hoichoi that co-produced the film. Producer Rana Sarkar acknowledged that the huge success of the Eken film has prompted him to shift the release of 'OKK' by a week. "Two franchises — Eken and Sonada — are perhaps bigger draws in Tollywood now than even Feluda and Byomkesh. Parents wait for the next instalment of these franchises so that they can take their kids to watch them. Our film is not a competitor to the Eken release. We released it on May 23 at 14 theatres including INOX-PVR, Nandan, Radha and Nazrul Tirtha, among others," Sarkar said. On Monday, when most movies see a dip in footfall, Sarkar was shocked to see that pirated links were available on telegram. "This is a serious copyright infringement and severely impacts the business prospects of the film. I have met the commissioner of police to investigate the matter to find who did it, initiate steps to block down and take down the infringed content from sites and prevent further unauthorised distribution of the film across online platforms," Sarkar added.
