GIC News

In a country as diverse and vibrant as India, festivals and events are more than just gatherings. From grand weddings to corporate extravaganzas, India hosts millions of events each year. Over 10 million weddings occur in India annually, with some estimates suggesting that a typical Indian family spends up to one-fifth of its wealth on weddings. But amidst the excitement, have you considered what could go wrong? That’s where Event Insurance becomes your safety net, ensuring your celebration stays on track, no matter what.

As we enter the International Fraud Awareness Week 2024, its an opportune moment to reflect on the critical issue of insurance fraud along with the collective efforts required to combat it. The general insurance sector is intricately linked to most of the industries, such as infrastructure, automotive, healthcare, agriculture, and society as a whole.

In todays fast-paced, digital-first world, customer expectations are shifting rapidly, and insurance companies are under pressure to meet these demands. Conversational AI, often seen as a tool for the future, is already here, redefining how insurers interact with customers, particularly in customer support and claims servicing. With AI-powered chatbots and voice assistants leading the charge, call centres are no longer seen as cost centres but as strategic hubs for delivering superior customer experience.

The Malaysian government has proposed increasing the individual income tax relief for medical expenses up to MYR10,000 ($2,318), which also covers medical and health insurance plans with co-payment features. The government has also proposed an increase in individual income tax relief on education insurance and medical and health insurance