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SBI General Insurance revises premium rates

SBI General Insurance has announced a revision in premium rates for select health insurance products, effective February 1, 2025. The revised rates respond to evolving healthcare needs and regulatory shifts aimed at improving access to health insurance benefits, the company said.

Automation: Changing the shape of the insurance sector

As per the McKinsey Global Institute report 2017, there is 43% of automation potential for insurance and finance industries. It is also estimated that by the year 2025, up to 25% of the task force in the insurance industry may be merged or replaced, especially in operations and administrative support. Currently, the insurance industry is looking at use cases for intelligent automation that will uplift the efficiency of the current processes and reduce the operational costs at the same time.