Latest news with #SaurabhGupta
Associated Press
12 hours ago
- Business
- Associated Press
Lunchbox and UrbanPiper Partner to Lead Global Restaurant Tech Expansion
The partnership combines Lunchbox's enterprise ordering and off-premises solutions with UrbanPiper's global infrastructure to deliver unified restaurant tech across 40+ countries. NEW YORK and BENGALURU, India, June 3, 2025 /PRNewswire/ -- Lunchbox, the enterprise tech platform for restaurants, has partnered with UrbanPiper, the most widely adopted restaurant management platform outside the U.S., trusted by brands like McDonald's, Pizza Hut, Subway & Krispy Kreme and many more. The partnership enables Lunchbox to expand its core solutions, including order aggregation, digital ordering, delivery, and catering, to the global delivery market, which is expected to grow from $156.75 billion in 2024 to $173.57 billion in 2025 at a CAGR of 10.7%. Order Aggregation—Lunchbox's solution for connecting third-party marketplaces directly to the POS—gives restaurants a more streamlined way to manage off-premise operations. UrbanPiper, a middleware platform powering over 50,000 restaurant locations in 40+ countries, offers deep integrations across delivery platforms, POS systems, and kitchen operations. Powered by UrbanPiper's international infrastructure and integration network, this strategic alliance gives Lunchbox a turnkey path to support restaurant brands outside the United States—without the friction or complexity of replatforming. At the same time, UrbanPiper will tap into Lunchbox's enterprise expertise and U.S. client base to accelerate its expansion into North America, uniting global and local leaders to drive the next phase of off-premise growth. 'The future of restaurant growth lies beyond the four walls,' said James Walker, CEO of Lunchbox. 'We're not just expanding internationally—We're setting a new standard for global off-premise infrastructure. UrbanPiper is the best partner for that mission.' 'The United States is the most competitive restaurant tech market in the world,' said Saurabh Gupta, Co-founder & CEO of UrbanPiper. 'We see a need for a single global contract for a lot of large enterprise brands globally with a comprehensive, all-in-one platform and so we believe partnering with Lunchbox can help to enable us to be able to do this'. The Fastest-Growing Segment in Restaurants? Off-Premise. The restaurant industry is moving away from fragmented tech stacks and legacy point solutions. Operators are no longer willing to juggle half a dozen disconnected systems to manage off-premise dining. They're calling for one platform to unify it all—ordering, data, guests, and operations. That shift is driven by the rise of off-premise, which now makes up nearly 75% of all restaurant transactions, according to the 2025 Off-Premises Restaurant Trends Report. As this segment grows, so does the demand for centralized, intelligent infrastructure that can scale across regions, brands, and channels. Lunchbox x UrbanPiper: A Single Point of Control, From New York to New Delhi Together, they eliminate the need for fragmented systems, giving restaurants a single point of control across borders. About Lunchbox Lunchbox is the enterprise restaurant platform built to help operators drive digital revenue and own the guest relationship across catering, ordering, loyalty, marketing, and more. Trusted by brands like Firehouse Subs, Paris Baguette, and BRIX Holdings, Lunchbox powers scalable growth through unified digital solutions. To learn more, visit Media Contact: [email protected] [email protected] View original content to download multimedia: SOURCE Lunchbox
Indian Express
6 days ago
- Indian Express
2 die, 3 injured in West Delhi as car hits cyclist, rams into hut
Two individuals died and three others were injured in West Delhi after a speeding car allegedly driven by a 19-year-old hit a cyclist and then crashed into a makeshift hut on the roadside early on Thursday, the police said. The accident occurred on Pankha Road around 3.30 am and was reported via a PCR call to the Janakpuri police station, the police said. The driver has been apprehended, and legal proceedings are underway, said an officer. Emergency services and the local police promptly reached the scene and rushed the injured to a nearby hospital. Despite efforts to save them, two individuals succumbed to injuries, while three others remain under medical treatment and their condition is currently being monitored, said the police. The police are investigating the circumstances of the crash, including whether the driver was under the influence of alcohol or speeding at the time of the incident. In March, a Delhi University student who was delivering newspapers early in the morning was struck by a speeding car and killed in Rohini. Investigations led to the arrest of two suspects — Saurabh Gupta, 26, and his uncle Pankaj Gupta, 41, who allegedly attempted to conceal their involvement by repairing their vehicle in Panipat. CCTV footage played a crucial role in identifying and locating the suspects, said the police. The victim, Rishal Singh, was a resident of Budh Vihar and was pursuing a BA degree through the School of Open Learning. To support his education and family, he worked as a newspaper vendor, earning approximately Rs 12,000 per month.
Time of India
7 days ago
- Business
- Time of India
Can you depend upon home loan insurance policy, which is often tied up with loan?
The last thing one worries about when they lose a loved one or when their family members are fighting for their life in a hospital is how all the rapidly increasing medical bills will be paid. Those who have an insurance policy believe the insurer will take care of it, and rightfully so. After all, isn't this why they have been paying their health or life insurance policy premiums regularly—to protect themselves financially in the face of a medical emergency or if the sole breadwinner of their family passes away? But imagine their emotional and financial plight when they find their insurance claims rejected, and that too, on arbitrary grounds. Something similar happened with Garima Gupta last year, when she lost her husband, Saurabh Gupta. The insurer, HDFC Life, rejected the claim made on a group life insurance policy taken on a top-up home loan in 2024 worth around Rs 30 lakh (Rs 29,47,368), because the life assured (her husband) had reportedly not disclosed his pre-existing conditions. This is a double whammy for the family of the policyholder, as not only do they have to go through the harrowing experience of claim rejection and scouting for further legal options, but they also have to deal with the home loan lender, who is repeatedly reminding them to pay the outstanding home loan. All the niceties shown at the time of selling home loans and credit insurance are now gone, and what is left is jargonized rejection of claims and cold collection protocols for home loan recovery. Live Events Read on to know more about how insurers in India continue to sidestep established legal precedents that disallow diabetes to be considered as grounds for claim rejection, reject claims based on non-disclosure of facts by policyholders, and how insurers are forcefully bundling insurance policies with home loans, leaving the customer at their mercy. The details of the case A non-linked, non-participating pure risk group life insurance product, the group credit plan claims to 'protect the families from the burden of repaying the outstanding loan to the financial institution upon the death, disability, or illness of the insured member(s),' per the policy's brochure. According to Ms. Gupta, whose late husband had taken a top-up home loan from the HDFC bank and had been issued the Group Credit Protect Plus (life benefit) plan along with it, 'the death certificate highlighted the cause of death as 'AGE with Severe Dehydration, LRTI with Respiratory Failure, Sepsis with Refractory Septic Shock, MOD.' None of these conditions is directly linked to diabetes and fatty liver, the stated ground for claim rejection. However, the insurer (HDFC Life) rejected the claim, citing a pre-existing disease. 'Our investigations have established that Life Assured was suffering from diabetes mellitus, fatty liver and was hospitalized for acute gastroenteritis with dehydration and gallbladder sludge before issuance of the policy. This information was not provided to the company at the time of applying for the insurance policy. With deep regret, we wish to convey that we are unable to accept your claim based on the aforementioned information,' read the claim repudiation letter, which was seen by ET Wealth. ET Wealth reached out to HDFC Life regarding this. In response, HDFC Life states that 'Keeping the privacy of the policyholder/claimant in mind, we will not comment on this specific case.' 'While we make every effort to ensure that we honour the claim requests received, we are also dependent on customers to disclose their full medical history (while purchasing the policy) along with all other requisite information that can impact a fair risk assessment at the time of insurance purchase and claim settlement later. We keep working to create awareness around claims by informing policyholders about the need to truthfully and accurately provide health- and lifestyle-related information or any other details that can impact the death claim settlement,' said their statement. Group plan does not diminish insurer liability; still their responsibility to verify all facts Garima also elaborated that the policy issuance form, which was provided while taking the top-up home loan, had simple yes/no questions for disclosures. No medical tests were demanded of the life assured by HDFC Life before issuing the policy. 'In a group insurance policy, especially for health or credit life cover, the insurer assumes risk based on simplified disclosures—usually a yes/no form—with or without medical tests. However, this does not diminish the insurer's liability,' says Sonal Alagh, Partner, Alagh & Kapoor Law Offices 'The Supreme Court in Satwant Kaur Sandhu v. New India Assurance Co. Ltd. (2009) held that insurers cannot escape liability merely due to technical lapses in disclosure, especially when medical tests were not insisted upon at the time of underwriting. If the insurer chose not to conduct medical tests, it is presumed to have accepted the risk with the disclosures made,' she adds. 'If the insurer uses a simplified proposal form with only yes/no questions, the responsibility to seek further clarification or require medical tests lies with the insurer. If the insurer does not request additional information and issues the policy, it is presumed to have accepted the risk on those terms. Insurers cannot later repudiate claims on the grounds of non-disclosure if the information was not specifically sought,' says Sarita Joshi, Head of Health and Life Insurance at Probus. A recent ruling by the Allahabad High Court also highlighted that if an insurance company wants specific details over and above what is being explicitly asked in the policy form, it is their responsibility to insist on relevant follow-ups or medical tests. Once the policy has been issued and the premium taken, it cannot reject the claims made on the grounds of non-disclosure of material facts. 'If specific queries are made in the proposal form, then it is the duty of the insured to answer those specific queries, but if any query or column in a proposal form is left blank, then the insurance company must ask the insured to fill it up. If, despite any column being left, the insurance company accepts the premium and thereafter issues a policy bond, it cannot at a subsequent stage repudiate the claim of the insured,' the judgment explained. Various judgements hold diabetes cannot be grounds for claim rejection Last year, the Delhi State Commission held that outright denial of an insurance claim on the grounds of pre-existing conditions is not justified, especially when the insurer did not seek any medical tests before issuing the policy. On similar lines, both the Delhi State Commission and NCDRC (National Consumer Disputes Redressal Commission) have ruled that common lifestyle diseases such as hypertension and diabetes cannot be grounds for claim rejection. However, it is advisable on the part of the policyholder or insured to disclose the same truthfully to the insurer. 'Some insurers may still attempt to reject claims, citing diabetes as a pre-existing condition. This has led to several consumer forum decisions ruling in favor of policyholders. For instance, in New India Assurance Co. Ltd. v. Smt. Leelavathi, the Karnataka State Consumer Commission observed that mere diabetes could not be a justifiable ground for claim rejection unless there was a clear exclusion or non-disclosure with intent to mislead,' says Alagh. While courts have held that diabetes alone isn't valid grounds for rejection, especially without a direct link to the claim, insurers still commonly use it to investigate or deny claims, particularly where disclosure is incomplete or the waiting period hasn't lapsed, explained Aditya Chopra, Managing Partner, The Victoriam Legalis. 'Rejection letters are typically coated in vague, ambiguous, and non-committal language, referring unclearly to undisclosed pre-existing conditions or stating that the history related to hypertension, diabetes, or other lifestyle-related diseases contributed to the condition, without offering any concrete basis or clinical justification,' he adds. Many state consumer forums have repeatedly ruled that diabetes cannot be a ground for claim repudiation, and even the legal landscape in this situation is bent in favour of the insured individual. However, little of it is taken into consideration by insurers. According to Vishal Gehrana, Advocate on Record and Partner Designate at Karanjawala & Co., 'the mere presence of diabetes cannot be used as a blanket reason to deny claims. If diabetes did not directly cause or materially aggravate the illness or death that led to the claim, insurers are not justified in repudiating the claim on this ground. The law says that unless there is a clear and direct link between diabetes and the cause of hospitalisation or death, the insurer's refusal to honour the claim is not sustainable.' 'Forced to purchase insurance with top-up loan,' says aggrieved M Gupta also stated that her late husband was forced to purchase the insurance from HDFC Life only, since the home loan issuer was a sister concern, i.e., HDFC Bank. This, despite IRDAI (Insurance Regulatory and Development Authority of India) clearly mandating that lenders must offer freedom of choice to the borrower and disclose that the borrower is not bound to purchase insurance from a specific insurer. If coercion is proven, the borrower can file a complaint with the IRDAI or the banking ombudsman. The Reserve Bank of India (RBI) and the IRDAI have repeatedly clarified that financial institutions cannot bundle insurance products or coerce borrowers into buying insurance from a particular company. 'In no case can the bank legally compel the borrower to purchase insurance from a specific insurer; doing so would violate regulatory guidelines on free choice of insurer,' concurs Raadhika Chawla, Advocate, Delhi High Court. People buy life insurance policies so that their loved ones do not face financial difficulties when they are not around. For this, they trust the life insurance company. However, such instances of rejection of the claim dampen the faith of the policyholders. As more courts weigh in on the need for insurers to act responsibly, the line between technicalities and true justice in claim settlements still looks far off, with policyholders suffering their way before they can reach there. This is an area of concern that the insurance regulator should look into to ensure that no rightful claimant is made to go through such an unpleasant experience by any insurance company in an arbitrary manner.
Tourism Breaking News
27-05-2025
- Business
- Tourism Breaking News
Dalands Holding to launch W Residences Al Marjan Island Valued at AED 1.5 billion
Post Views: 21 Dalands Holding, in collaboration with Marriott International and with the support of 'Marjan', the master developer of freehold property in Ras Al Khaimah, has announced the signing of W Residences Al Marjan Island, valued at AED 1.5 billion. Set to open in Q4 2027, W Residences Al Marjan Island will be co-located with the W Al Marjan Island hotel, introducing a bold fusion of vibrant hospitality and elevated residential living to one of the UAE's most iconic beachfront milestone marks a new chapter in Dalands Holding's expansion into the UAE, building on its successful track record of developing boutique resorts and high-end residences. Arch. Abdulla Al Abdouli, CEO of Marjan, added: 'W Residences Al Marjan Island is a significant addition to our expanding portfolio of world-class developments on the island. We are pleased to welcome global brands like W Hotels and leading developers like Dalands Holding who have long-standing credibility as a hospitality-focused developer. This project will further enhance our position as a preferred destination for luxury living and investment, while enriching the cultural and economic landscape of Ras Al Khaimah.' Saurabh Gupta, CEO of Dalands Holding, said, 'We are delighted to introduce W Residences to Al Marjan Island; a development that embodies our vision for creating iconic destinations rooted in design, service, and a vibrant sense of place. Co-locating these 201 W Residences with W Al Marjan Island ensures an unmatched lifestyle offering, combining private, luxury living with access to exceptional hospitality services. These fully furnished residences, supported by a world-class hotel experience and direct access to the beach, is what sets this project apart.' The residences will feature a range of exquisitely designed luxury homes, offering sweeping views and direct access to 130-metres-long beachfront. Each element of the development reflects the bold, irreverent spirit of the W Hotels brand, from cutting-edge interiors to the signature Whatever/Whenever© services. A wide array of exclusive amenities is planned to elevate the living experience for the residents. These include an exclusive reception area, WET® infinity pool deck, a plush resident's lounge, the brand's signature FIT® fitness hub including a yoga studio, a beachside lounging zone, a mini 'Screening Room', and dedicated entertainment spaces for private events and parties. With seamless access to select hotel services, residents will also get to enjoy the best of both worlds — privacy and comfort at home, and the vibrant, social energy of W Hotels in the same premise. 'This launch marks an exciting milestone for Marriott International as we continue to grow our luxury residential footprint in the region,' said Sandeep Walia, Chief Operations Officer, Middle East & Luxury, Europe, Middle East & Africa – Marriott International. 'W Residences Al Marjan Island reflects the evolving expectations of today's luxury consumer — seeking more than just a home, but an immersive lifestyle destination. We are proud to continue our collaboration with Dalands Holding and Marjan to bring this bold new residential offering to life alongside W Al Marjan Island.' The residences represent a seamless fusion of upscale beachfront living and contemporary luxury hospitality. Positioned along the island's pristine coastline, this development is poised to become a landmark address and a symbol of refined lifestyle in the Northern Emirates.
Yahoo
21-05-2025
- Business
- Yahoo
AI Revolutionizes Non-Bank Mortgage Lending: Insights from HFS Research and Cognizant
New study highlights how 2025 will be a turning point as technology redefines experience, operations, and value across the mortgage lifecycle. Key Findings: 74% of non-bank lenders are betting on innovation to drive differentiation, while only 21% believe they are leading the pack—revealing a significant gap and opportunity to innovate. Agentic AI is becoming the next big play, merging GenAI's cognitive reasoning with automation's precision—ushering in task-fulfilling "agents" that scale beyond efficiency into execution. Only 51% of lenders feel fully prepared for compliance risk, with some receiving up to 1,700 regulatory alerts in 2024—25% with direct business impact. Demonstrating ROI is critical. Intelligent Document Processing (IDP) is winning over lenders for its fast returns—especially where paper still rules. Outsourcing is being redefined. Full-service partnerships are expected to rise from 30% to 42% by 2026, measured by growth outcomes instead of simply on cost. Automation will reach 68% of mortgage operations by 2026, signaling a shift from task-level wins to blending technology, human expertise, and continuous improvement into an intuitive tech-to-ops cycle in mortgage operations. NEW YORK, May 21, 2025 /PRNewswire/ -- In a rapidly evolving housing economy, non-bank mortgage lenders are facing a wake-up call. A new joint study by HFS Research and Cognizant, "Reinventing the Non-Bank Mortgage Lending Journey in the Age of AI," reveals an industry grappling with operational fatigue, regulatory pressure, and fast-moving tech disruptions—while a small but bold segment rewrites the mortgage playbook. Drawing insights from 257 non-bank lenders and ecosystem partners, the report delivers a sobering yet hopeful look at the next chapter for mortgage lending. From the emergence of Agentic AI to the reconfiguration of outsourcing strategies, lenders are being challenged to trade reactive cost-cutting for purposeful innovation. "The fundamentals of lending haven't changed—the loan is still a loan. What's changed is the speed, intelligence, and precision with which it's delivered. This is no longer just about access to capital—it's about how seamlessly, securely, and smartly capital flows through digital channels," says Saurabh Gupta, President, Research and Advisory Services, HFS Research. "The ones who go all-in—building digital-first, modular, and intelligent operations—will define the next era of mortgage lending. The rest? They risk being left behind." Powerful Data-Driven Insights: The research reveals that although 2025 is being eyed as a rebuild year, many lenders are stuck playing defense. As lending platforms modernize, access to mortgage capital is becoming faster, smarter, and more modular. Yet, only 21% of lenders consider themselves true innovators. The rest? They're either chasing parity or struggling to catch up. Compliance is also hitting a breaking point. One executive shared they received over 1,700 regulatory alerts last year—nearly one in four with direct business consequences. The result: compliance is now a 24/7 operation, and tech investment is the only scalable solution. Divya Iyer, Practice Leader, BFSI, HFS Research, adds, "We're seeing real momentum around Agentic AI—where GenAI meets the execution muscle of automation. But it's not the only force driving change. Technologies like IDP are bridging the gap in paper-heavy workflows, proving that meaningful transformation doesn't have to wait for full digital maturity." What Lenders Need to Do Next: Move beyond legacy constraints. 58% of lenders still can't support real-time integration—limiting data agility and delaying decision-making. Prioritize technology with measurable outcomes. Tools like IDP, AI underwriting, and cybersecurity are driving rapid ROI, while GenAI is expanding into core operations. Redefine outsourcing partnerships. Lenders must move beyond tactical cost-cutting to leverage partners for platform modernization, AI deployment, and full-service scalability. Focus on value creation—not just efficiency. The winners will blend automation, data platforms, and talent into a cohesive tech-to-ops cycle. "In the rapidly evolving landscape of non-bank mortgage lending, there is a critical need for innovation and agility," said Ajay Pandita, Senior Vice President and Financial Services, Fintech and Insurance Business Unit Leader, of Cognizant. "As we navigate through operational fatigue, regulatory pressures, and technological disruptions, it is imperative that we embrace purposeful innovation and redefine our strategies. The emergence of Agentic AI and IDP are just the beginning. By prioritizing technology with measurable outcomes and leveraging full-service partnerships, we can transform the mortgage lending journey and lead the industry into a new era of efficiency and value creation." Download the full report: Reinventing the Non-Bank Mortgage Lending Journey in the Age of AIReinventing non-bank mortgage lending journey in the age of AI - HFS Research About HFS ResearchHFS Research is a leading global research and advisory firm that helps Fortune 500 companies navigate IT and business transformation with fearless insights and actionable strategies. With unrivaled access to Global 2000 executives, HFS empowers organizations to make confident technology and service decisions that drive competitive advantage. For more information, visit About CognizantCognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at or @cognizant. Forward-Looking Statements This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the adoption of generative and/or agentic artificial intelligence, the effects of such artificial intelligence on the mortgage lending industry and the competitive opportunities in the marketplace. These statements are neither promises nor guarantees but are the findings of the study discussed above and remain subject to a variety of risks and uncertainties, many of which are beyond Cognizant's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause outcomes to differ materially from those expressed or implied include general economic conditions, the impact of technological development and competition, the competitive and rapidly changing nature of the markets Cognizant and its clients compete in, and the other factors discussed in Cognizant's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. 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