VP @orfonline | Grand Strategy, Economics, Mahabharata New Books: India’s Grand Strategy | Reform Nation | Reading Sri Aurobindo
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Gautam Chikermane 🇮🇳 retweeted
When the personal attacks and name calling comes as a flood, you know that change is imminent in the insurance industry!
An industry and distribution system that has ripped people off for decades.
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“Chinese leaders keep optics separate from outcomes, never allowing protocol to bleed into substance. They understand this US administration reneges on deals, makes additional demands, and imposes new conditions.”
Do read this insightful analysis by @VGokhale59.
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Gautam Chikermane 🇮🇳 retweeted
Cyberfraud presses the buttons of fear and green often by creating a sense of urgency.
Listen on how to put distance between decision and action in episode 130 0f #LetsTalkMoneywithMonikaHalan
Spotify - open.spotify.com/show/5D0oX4…
Apple Podcast - podcasts.apple.com/in/podcas…
Amazon Music - music.amazon.in/podcasts/f75…
Jiosaavan -
jiosaavn.com/shows/lets-talk…
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Gautam Chikermane 🇮🇳 retweeted
In this 2016 peer reviewed and published paper, @resanering and I show how banks mis-sell through a mystery shopping exercise.
The proof has been in public domain for decades that banks mis-sell.
papers.ssrn.com/sol3/papers.…
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Gautam Chikermane 🇮🇳 retweeted
The first farewell lunch — by the old Mint Money team, the gold standard in personal finance journalism (and some plus-ones).
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On our journey to a Viksit Bharat, you cannot have millions of people who have been cheated out of their money in a regulated product: @monikahalan on insurance reforms.
#WATCH | Delhi: On IRDAI's proposal on changes to insurance distribution rules, author and financial educator Monika Halan says, "The entire industry is based on the policyholders' money. For 27 years, the policyholder has been last in the mind of the insurance regulator. IRDA has been more of an industry association till this consultation paper, where the new chairman, Ajay Seth, has put policyholders at the heart of the insurance industry, which is the way it should have been...the number of complaints on mis-selling and the complaints on claims in health insurance have been rising over the years...it is to serve the policyholder. The policyholder is not there to serve the firms. So this industry has been upside down...profits that are built on the tears of policyholders are just bad for the country. On our journey to a Viksit Bharat, you cannot have millions of people who have been cheated out of their money..."
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Gautam Chikermane 🇮🇳 retweeted
The 2023 IRDA regulation reversed the downward curve of total expenses.
Cost of doing business is as much as 39% for life and 48% for general insurance.
Other expenses, like your claim amount, come after that.
Is it a wonder that less is left over for claims and hence the reluctance to pay fair claims?
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Gautam Chikermane 🇮🇳 retweeted
I sell no products or service.
This is a lie and unless you can prove it, you are lying and will face the consequences.
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Gautam Chikermane 🇮🇳 retweeted
Recent highlight that the Houthis used AI to try and build weapons sent ripples in the tech sphere. However, use of tech by militant groups is not new. From aircraft hijackings in th 70s to social media and now AI, tech has always been used by bad actors. My colleague Siddharth Yadav and I look at how social media era had already highlighted the perils today being magnified by the power of AI. @orfmiddleeast. orfme.org/expert-speak/click…
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Gautam Chikermane 🇮🇳 retweeted
"Those Who Oppose UN Reform Don’t Care For It!" - Minister @DrSJaishankar piped.video/a9Et3WOGE_I?si=2KkS… via @YouTube
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The IRDAI paper addresses 3 layers of asymmetry stacked against consumers:
1 Information asymmetry (policies designed to confuse)
2 Corporate asymmetry (disclosures that hide more than they reveal)
3 Noise asymmetry (distributors lobbying loudly to protect commissions)
Thread...
IRDAI just did something it hasn’t really done in 27 years: regulate in favour of policyholders.
To rephrase Neil Armstrong, its consultation paper is one small step for the insurance sector, one giant leap for consumers.
My essay in @firstpost.
firstpost.com/opinion/insura…
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Going forward, there will be loud noises and lobbying around why this is bad for agents, for their livelihoods, for banks, for insurers...
As consumers, it is time for you to engage, lend your voice and power this reform—be the change you need and deserve.
iib.gov.in/pir
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To rephrase Neil Armstrong, this is one small step for the sector, one giant leap for consumers.
Read the detailed analysis here
firstpost.com/opinion/insura…
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