The impact of climate change and sustainability standards on the insurance market

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Başlık:

Yazar:

Sood, Kiran (Professor of business), editor.

ISBN:

9781394167944

9781394167937

9781394167920

Fiziksel Tanımlama:

1 online resource (486 p.)

Genel Not:

Description based upon print version of record.

İçerik:

Cover -- Title Page -- Copyright Page -- Contents -- Foreword -- Preface -- Part I: The Impact of Digitalisation and Lines of Insurance on Sustainable Development -- Chapter 1 Sustainability Through Digital Insurance -- 1.1 Introduction -- 1.2 Theoretical Background -- 1.2.1 Origin and Concept of Digital Insurance -- 1.2.2 The Internet of Things -- 1.2.3 Digital Ecosystem for Insurers -- 1.2.4 Digital Disruption in the Insurance Industry -- 1.3 Sustainability and Digital Insurance -- 1.3.1 Principles for Sustainable Insurance -- 1.4 Digital Insurance and Sustainable Goals -- 1.5 Findings

1.6 Conclusion -- 1.7 Implications -- References -- Chapter 2 Motor Vehicle Insurance Industry in India: A Review -- 2.1 Introduction -- 2.1.1 Why Do We Need Motor Vehicle Insurance? -- 2.1.2 Need and Significance of the Study -- 2.2 The Rationale for the Study of VMI in India -- 2.2.1 Importance of Insurance in Our Daily Life -- 2.2.2 VMI Industry and Effect of Pandemic (COVID-19) -- 2.2.3 Motor Vehicle Insurance in India -- 2.2.4 New Insurance Policy Rule in India -- 2.3 Literature Review -- 2.4 Objective -- 2.5 Methodology -- 2.6 Discussion -- 2.6.1 Motor Insurance Sales in India

2.7 Findings -- 2.7.1 MVA Act 2019 -- 2.7.2 Benefits of VMI -- 2.8 Result -- 2.9 Conclusion -- References -- Chapter 3 Demystifying the Prospects for Insurance Companies to Finance the Energy Metamorphosis: A Study on Indian Insurance and Sustainable Development -- 3.1 Introduction -- 3.2 Present Status of India in Energy Transition -- 3.3 The Prospects for Insurance Enterprises to Finance the Energy Metamorphosis -- 3.4 The Reasons Why India's Renewable Energy Investments are Anticipated to Expand -- 3.5 Harnessing Insurance for Sustainable Development -- 3.6 Conclusion -- References

Chapter 4 Artificial Intelligence in the Health Insurance Sector: Sustainable or Unsustainable from the Lens of Ethical-Legal and Socio-Economic Standards -- 4.1 Introduction -- 4.2 Conceptualizing Sustainable Health Insurance -- 4.3 Integration of Artificial Intelligence in Health Insurance: A Background -- 4.4 Integration of AI in Health Insurance: A Bird's Eye View from Ethical Implications Perspective -- 4.4.1 Issue of Transparency -- 4.4.2 Issue of Accountability -- 4.4.3 Issue of Algorithmic Bias -- 4.4.4 Issue of Informed Consent

4.4.5 Issue of Safety and the Use of AI in the Insurance Sector -- 4.4.6 Issue of Trust Deficit Between the Insurance Providers and the Insured -- 4.4.7 The Issue of Explainability -- 4.5 Integration of AI in Health Insurance: Evaluation of Socio-Economic Repercussions -- 4.5.1 Economic Growth vis-à-vis Sustainability: Does Implementation of AI in Health Insurance Pose Unsustainability? -- 4.5.2 AI in Health Insurance: Issue of Equitability -- 4.6 Integration of AI in Health Insurance: Requirement of Ideal Model Legal Standards for India -- 4.7 Recommendations -- 4.8 Concluding Remarks

Özet:

This book delves into the physical and logical impacts, both direct and indirect, on the insurance industry. Subjects discussed include new technology such as big data, artificial intelligence, machine learning, the growth of sustainable economics with foreign direct investments (FDIs), trustworthiness, and ethics. Related use cases of data science for claim processing, fraud detection and prevention, policy administration, pricing, and underwriting are discussed along with cyber security issues, data protection, and big data regulatory reforms. To promote ESG sustainability, the insurance industry plays a critical and significant role. Climate-related risks are being factored into underwriting and investing strategies. Through their own operations and business activities, insurers may promote the ESG agenda and move towards sustainability. Also discussed are promoting diversity and inclusion, lowering greenhouse gas (GHG) emissions, resolving gender inequality, and helping communities through charitable work, which all improve a company's brand, reputation, and ESG credentials.

Notlar:

John Wiley and Sons

Konu Terimleri:

Climate change insurance.

Assurance-climat.

Financial Risk Management.

Finance.

BUSINESS & ECONOMICS.

Tür:

Electronic books.

Yazar Ek Girişi:

Sood, Kiran (Professor of business),