Consumers across the globe desire humanized experiences when navigating the insurance industry

Duck Creek Technologies launches the second edition of the Global Consumer Insurance Insights survey of over 2,000 global consumers, aimed at refining the strategies that bring insurers closer to consumers worldwide Boston / London, May 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) […]

Duck Creek Technologies launches the second edition of the Global Consumer Insurance Insights survey of over 2,000 global consumers, aimed at refining the strategies that bring insurers closer to consumers worldwide

Boston / London, May 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has proudly published its second annual benchmark survey, the 2023 Global Consumer Insurance Insights. The survey reveals strong demand from global consumers for humanized insurance purchasing, switching and communication experiences through digital channels.

The 2023 wave of research – which is being launched at the Duck Creek Technologies Formation ‘23 event for customers and partners from May 8-10, was conducted independently by Research in Finance for Duck Creek Technologies and surveyed over 2,000 policyholders across 13 countries, all of whom held at least one insurance policy.

Aimed at refining the strategies that bring insurers closer to consumers worldwide, this year’s survey is more extensive than the inaugural 2022 edition, with more questions and responses from policyholders across more countries. The survey provides insights for carriers, reflecting consumer preferences and awareness of innovation opportunities, purchasing, and communication methods.

Key findings from the survey include:

 

  • 93% of consumers are confident they have the proper coverage, irrespective of which channel they used to purchase the insurance policy.
  • Once a policy is in place, 44% of consumers prefer human interaction (2022: 35%). At the same time, however, interest in app/WhatsApp usage for buying and switching insurance also increased year-over-year.
  • 46% of global consumers are unaware of embedded insurance. Of those who were aware (37%), almost half said they trust it because of product or retailer quality. Those who do not trust it (26%) find embedded insurance unnecessary and expensive. Those who are unsure (29%) require more information, having had little experience with embedded insurance.

The survey reveals significant positives for insurance providers and clearly shows they are getting it right in many areas. However, it also highlights areas where insurers must reflect and improve further – including bolstering global consumer confidence and trust in insurance.

According to Jess Keeney, Chief Product & Technology Officer at Duck Creek, “As the insurance industry continues to evolve, it is crucial for providers to listen to the needs and preferences of their customers. The 2023 Duck Creek Technologies benchmark survey provides invaluable insights into consumer behaviors and trends, highlighting the areas where insurers can maximize accessibility, accelerate speed to market, and differentiate competitively.”

While the survey shows that carriers around the world are responding quickly to consumer demand for more relevant and timely products and services, it also reveals that a significant number of consumers prefer a humanized experience when interacting with their insurance providers. This emphasizes the importance of exploring ground-breaking and varying communication options to meet the needs of diverse customers.

Keeney adds, “It is encouraging to see that despite the challenging economic environment, people are re-evaluating their insurance needs and considering a wider range of products. Mobile and gadget insurance, travel insurance, and embedded insurance are being purchased more frequently than other types of insurance.

Duck Creek’s 2023 survey is a vital resource for insurance providers, offering unique insights into customer perceptions and highlighting the next opportunities for innovation. We urge providers to delve deeply into the results and continue pushing the frontiers of the insurance industry forward.”

Research in Finance Head of Research, Karen Scott, added, “In the insurance industry, listening to consumers is essential for success. As the Global Consumer Insurance Insights Survey 2023 demonstrates, primary research capturing changing behaviors, user feedback, and satisfaction is invaluable to help inform insurance company strategies, new product development, marketing, and communications plans. Insurers now have access to significant data sets to compare year-on-year, creating a true benchmark series of reports we are proud to support. Ultimately, insurers who prioritize listening to and understanding their consumers will come out on top.”

The 2023 Global Consumer Insurance Insights Survey highlights four key calls to action for insurers:

  1. Maximize accessibility of insurance products to consumers across channels
  2. Accelerate speed to market with the SaaS model
  3. Humanize the consumer experience through digital channels
  4. Leverage the SaaS ecosystem to differentiate competitively

Download the 2023 Global Consumer Insurance Insights Survey here.

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Drake Manning
Duck Creek Technologies
+1 860 877 3609
drake.manning@duckcreek.com
GlobeNewswire Distribution ID 8833259

Mosa Meat Prepares for Market Entry by Opening Largest Cultivated Meat Campus in the World to date and Working with Two Michelin-starred Chef Hans van Wolde

MAASTRICHT, The Netherlands, May 08, 2023 (GLOBE NEWSWIRE) — Mosa Meat, the pioneers in the cultivated meat space that grow beef directly from animal cells, opened a new 2,760 square metre (29,708 square feet) scale-up facility in Maastricht on Monday. This fourth facility completes the new Mosa C.A.M.P.U.S. or Center for Advanced Meat Production, Upscaling, […]

MAASTRICHT, The Netherlands, May 08, 2023 (GLOBE NEWSWIRE) — Mosa Meat, the pioneers in the cultivated meat space that grow beef directly from animal cells, opened a new 2,760 square metre (29,708 square feet) scale-up facility in Maastricht on Monday. This fourth facility completes the new Mosa C.A.M.P.U.S. or Center for Advanced Meat Production, Upscaling, and Sustainability for a total footprint of 7,340 square metres (79,007 square feet).

Monday’s program included a ribbon cutting ceremony with the Mayor of Maastricht Annemarie Penn-te Strake, the Governor of Limburg Emile Roemer, and the Mosa Meat team, a cultivated burger cooking demonstration by Chef Hans van Wolde, and tours of the new facility. A select group of 50 investors, journalists and value chain partners from around the world attended the event. The new facility will start the first production runs in a matter of days.

Mosa Meat CEO Maarten Bosch said: “As this scale-up facility comes online next month, we will have the capacity to make tens of thousands of cultivated hamburgers. The facility is designed to grow as demand increases with regulatory approvals and regional market entries, up to hundreds of thousands of cultivated hamburgers per year. And in combination with our contract manufacturer in Singapore, even a lot more. We are excited to debut this great tasting hamburger today that even hardcore carnivores will love.” 

Mosa Meat Co-founder & CSO Dr. Mark Post said: “When we introduced cultivated meat to the world, we predicted it would take 10 years to create a consumer product. Now, almost exactly 10 years later, we have a consumer product that we can start making in larger quantities and that we can start serving to consumers in Singapore, pending regulatory approval” said Mark Post, co-founder and Chief Scientific Officer of Mosa Meat.

Chef Hans van Wolden said: “When I first tried a Mosa Burger as part of the internal development team, I was blown away by the beefy taste and the amazing mouthfeel of the beef fat. It gave me goosebumps. I genuinely believe this new way of making beef can delight connoisseurs and casual beef lovers alike, while enjoying the positive benefits of cultivated beef from a sustainability perspective. I am excited to work with the Mosa Meat team to make future versions even better. 

ABOUT MOSA MEAT

Mosa Meat is a global food technology company pioneering a cleaner, kinder way of making real beef. Our founders introduced the world’s first cultivated beef hamburger in 2013, by growing it directly from cow cells. Founded in 2016, Mosa Meat is now scaling up production of the same beef that people love, but in a way that is better for people, animals, and the planet. A diverse and growing team of 165 food-loving problem-solvers, we are united in our mission to fundamentally reshape the global food system. Headquartered in Maastricht, The Netherlands, Mosa Meat is a privately held company backed by Blue Horizon, Bell Food Group, Nutreco, Mitsubishi Corporation, Leonardo DiCaprio and others. Follow Mosa Meat on Facebook, LinkedIn, Twitter and Instagram or visit mosameat.com to learn more about why people #cravechange.

For more information, reach out to press@mosameat.com.

Visual assets from the event will be loaded here by 17:00 CET on May 8th

https://drive.google.com/drive/folders/181Qd14IJ9QD55SfwarnohvzO5-rjxtHf

The general Mosa Meat press kit is here:

https://mosameat.com/press-kit

ABOUT CHEF HANS VAN WOLDE

Chef Hans is a Dutch 2-Michelin star chef who converted an old farmhouse outside Maastricht into his restaurant Brut172. Previouslyhe was the chef owner of 2-star restaurant Beluga in Maastricht and has been featured on TV shows like MasterChef and Snackmasters. He has formally joined Mosa Meat’s product development, sensory evaluation and recipe formulation team to complement Mosa Meat’s internal team of food scientists.

www.brut172.com

Attachments

Tim van de Rijdt
Mosa Meat
press@mosameat.com

GlobeNewswire Distribution ID 8834249

India’s booming population needs more women at work

Last month, India surpassed China as the world’s most populous country, prompting analysts to point out the potential benefits of its significant young demographic. However, a major obstacle to realising this potential is the insufficient representati…

Last month, India surpassed China as the world's most populous country, prompting analysts to point out the potential benefits of its significant young demographic. However, a major obstacle to realising this potential is the insufficient representation of women in India's workforce. The BBC's Arunoday Mukharji reports.

When Lavanya Uluganathan decided to take a break from work in 2014 to have a baby, she felt torn and dismayed.

But the HR professional from the southern state of Tamil Nadu, who says she was at the "peak of her career" then, was clear that she wanted to spend time with her family.

Four years and two children later, she felt ready to re-join the workforce. But finding a job was hard.

She faced repeated rejections, and recruiters also asked her to take massive salary cuts, arguing that she couldn't expect anything else after taking a break.

"It was a huge setback for my career," she says.

Ms Uluganathan is not alone. Nearly half of India's population is female and yet, the number of working women has fallen to record lows in the past two decades. According to data from the World Bank, the female participation rate in India's labour force was at its peak in 2000 at 31%. Since then, it has consistently fallen, hitting a low of 21% in 2018.

There are many reasons for this. India is still a largely patriarchal society, where women are expected to be primary caregivers at home. Indian women spend eight times the number of hours on unpaid care work compared with men, according to a national time use survey from 2019. The global average is three times.

Experts say that safety concerns and not being able to find jobs close to home also prevent women in big cities from joining the workforce.

After months of searching, Ms Uluganathan did find a job - as a human resources manager at one of India's biggest two-wheeler manufacturers.

The company has a scheme for women who are returning to their careers after a professional break - it offers flexible working hours, mentoring and training to them.

Ms Uluganathan said the programme helped her find her ground again.

"If you want us to come back with the same energy and enthusiasm, these kind of programmes have to be there," she says.

How India calculates value of women's housework

Why half of India's urban women stay at home

Official data shows that only 32% of Indian women work after they get married - and most of them are part of the agricultural sector.

Ashwini Deshpande, an economics professor and head of the Centre for Economic Data and Analysis at Ashoka University, says that the country needs to create more non-farm opportunities in rural areas so that women can find jobs beyond agricultural work.

"If you want to gain from India's gender dividend, then women need to be productively employed," she says.

A 2018 McKinsey report estimated that India could add $550bn to its gross domestic product by increasing its female labour force participation by just 10%.

Currently, women employees account for less than 20% of India's manufacturing sector. But some changes are visible, especially in the industrial belt of Hosur in Tamil Nadu.

Located just 35km (21 miles) away from the information technology hub Bengaluru (formerly Bangalore), Hosur is home to a host of industries and has become an attractive destination for investments.

Six years ago, Roshni Lugun left her home - 2,000km away in Odisha state - and came to Hosur to work as an engineer in a factory. She started off by making shock absorbers for two- and three-wheelers and is now a staff supervisor.

"I wanted to try something new," she says. "If I had stayed at home, I would never have progressed so far. I could not have achieved this."

Like Ms Lugun, hundreds of other women working at the plant are changing the face of what was once a male-dominated industry. Even companies in the area are focusing on hiring more women in their workforce.

Gabriel India Ltd - an auto parts company in Hosur - says that more than 20% of the workers in its factories are women. The firm says the move makes sense from a business point of view. "Our internal studies have shown that attrition rates for women are lower," says Atul Jaggi, president and deputy managing director of Gabriel India.

The company provides perks such as on-site accommodation, subsidised food and several training programmes to attract more women workers.

"It doesn't cost more. These are basic facilities which any good organisation should have," Mr Jaggi says.

Ms Lagun agrees. "Why should it be that for India's economy to grow, only men have to work? We can also help," she says as she supervises a female colleague who is putting the finishing touches on shock absorbers which will be fitted on two-wheelers.

For Ms Lagun personally, the most exciting part of her job is that it gives her a sense of independence .

"Sometimes when I am out with my friends, I spot a motorcycle fitted with our auto parts. And I say, look, I have made it. It makes me happy and proud," she says.

Source: BBC

Int’l Parliamentary Convention being started in Islamabad today

The Two-day International Parliamentary Convention to commemorate the Golden Jubilee of the Constitution of Pakistan will begin at the National Assembly Hall in Islamabad on Wednesday.The Convention will comprise over inaugural, closing, plenary and b…

The Two-day International Parliamentary Convention to commemorate the Golden Jubilee of the Constitution of Pakistan will begin at the National Assembly Hall in Islamabad on Wednesday.

The Convention will comprise over inaugural, closing, plenary and breakout sessions.

The participants will hold extensive debate on different topics including Constitution in the Changing World, Federalism and Devolution of Powers, Constitution and Representation, Legal Framework for Global Responsibility and Climate Justice, Constitution in the Age of Crisis, Constitution and the Courts and Constitution and Economic Justice.

Speaker National Assembly Raja Pervaiz Ashraf will inaugurate the opening session, while Foreign Minister Bilawal Bhutto Zardari will be the Chief Guest of the closing ceremony to be held on Thursday.

Political leaders, legal experts and scholarly luminaries along with eminent civil society, women activists, youth and minorities' representatives of more than seventeen countries will participate in the Convention.

On the special invitation of Speaker National Assembly, the distinguished Chairman of Majlis Ash-Shura of Saudi Arabia will lead a delegation of goodwill to this highly anticipated event.

Radio Pakistan's News and Current Affairs Channel will run special remission to broadcast live proceedings of the opening session of this International Parliamentary Convention from the National Assembly Hall today at 8:30 in the morning and on closing session on Thursday immediately after 2:00 pm bulletin.

Source: Radio Pakistan

Dar underscores need to deepen bilateral ties in economic, trade sectors b/w Pakistan & China

Finance Minister Ishaq Dar has underscored the need to deepen bilateral relations in the economic, trade and financial sectors between Pakistan and China.He expressed these views while talking to Charge d’ Affairs of Embassy of the People’s Republic o…

Finance Minister Ishaq Dar has underscored the need to deepen bilateral relations in the economic, trade and financial sectors between Pakistan and China.

He expressed these views while talking to Charge d' Affairs of Embassy of the People's Republic of China Ms. Pang Chunxue, who called on him in Islamabad on Tuesday.

During the meeting, Ms. Pang Chunxue conveyed best wishes and greetings from the State Councilor and Foreign Minister of Chine Qin Gang to the Finance Minister.

The Finance Minister reciprocated greetings and also conveyed his best wishes for the Chinese Foreign Minister.

He highlighted the deep rooted historical bilateral relations between Pakistan and China, and commended the Chinese support to Pakistan on multiple fronts.

The Chinese envoy reciprocated the sentiments and admired the friendly relations between the two countries.

She guaranteed the continuous support of the Chinese Government to the people of Pakistan.

The two sides discussed various avenues, especially available for both countries in order to enhance the existing cooperation to unprecedented levels.

The meetings also talked about the progress on CPEC projects and other programs in Pakistan.

The Chinese Charge d' Affairs praised the huge potential of Pakistan in terms of agriculture, Industry, IT and services sector as well.

She added that China wishes to work together with Pakistan to bring economic prosperity in the region.

The Finance Minister said the government with the support of China, is confident to make Pakistan a growing economy of the region as well as the world soon.

He appreciated the Chinese Charge d' Affairs Ms. Pang Chunxue for the support and cooperation, Pakistan has been receiving from the leadership of China.

Source: Radio Pakistan

NA urges govt to explore solar, wind sources potential for affordable energy

Minister for Parliamentary Affairs Murtaza Javed Abbasi has assured to take necessary steps to address the issue of flour shortage and increase in its price in Khyber Pakhtunkhwa province.Responding to the points of the members in the National Assembl…

Minister for Parliamentary Affairs Murtaza Javed Abbasi has assured to take necessary steps to address the issue of flour shortage and increase in its price in Khyber Pakhtunkhwa province.

Responding to the points of the members in the National Assembly today, he said the matter has been brought into the notice of Prime Minister Shehbaz Sharif and a decision will soon be taken to this effect.

The Federal Minister clarified that there is no formal notification to stop the transportation of wheat from Punjab to Khyber Pakhtunkhwa.

The Contempt of Majlis-e-Shoora (Parliament) Bill, 2023 was laid before the National Assembly today. The Bill was moved by Rana Muhammad Qasim Noon.

The proposed Bill aims at condemning and awarding punishment for the actions that accounts for breach of the sovereignty and integrity of the prestigious house of Majlis-e-Shoora in any form or shade.

In his remarks on the occasion, Law Minister Azam Nazeer Tarar termed the bill a serious effort to give further impetus to the functions of the parliament.

He said doing legislation is the right of the parliament and the institution which has the right of the constitution's interpretation should also take care of the sanctity of the parliament.

The Minister said there will be chaos if the institutions enter into each other's domain.

Other members of the House also spoke in favor of the bill saying it is important to ensure the respect of the parliament.

The chair referred the Bill to the Standing Committee concerned.

Two other bills were also laid before the House today. These included The General Cosmetics Bill, 2023 and the National Excellence Institute Bill, 2023.

The National Assembly also passed a resolution urging the government to take immediate steps to explore the potential of renewable energy for generation of affordable energy. It was moved by MNA Saira Bano.

Later, the House was adjourned to meet again on Monday at five pm.

Source: Radio Pakistan

Law took its course in Al-Qadir Trust corruption case against Imran Khan: Tarar

Special Assistant to Prime Minister Attaullah Tarar says everyone is equal in the eyes of law and it has taken its course in Al-Qadir Trust corruption case against Imran Khan.Addressing a news conference in Islamabad on Tuesday, he said it is not poss…

Special Assistant to Prime Minister Attaullah Tarar says everyone is equal in the eyes of law and it has taken its course in Al-Qadir Trust corruption case against Imran Khan.

Addressing a news conference in Islamabad on Tuesday, he said it is not possible that a common man is arrested immediately in any case but Imran Khan kept on evading arrest and even court proceeding.

Atta Tarar said there is no political vengeance behind Imran Khan's arrest, he was wanted by NAB in the Al Qadir Trust case.

He said rule of law will prevail and Imran Khan and his partners in crime will have to be accountable for corruption and embezzlement.

The Special assistant said everyone is bound by law and anyone trying to take it into his or her hands will have to face the consequence.

Source: Radio Pakistan

Supreme Court Rejects Plea for Importing African Elephants

The Supreme Court denied a petition seeking permission to import African elephants for a zoological garden in Peshawar on Monday.Deputy Attorney General (DAG) Raja Shafqat Abbasi made a brief remark during the hearing, citing a July 2020 meeting of th…

The Supreme Court denied a petition seeking permission to import African elephants for a zoological garden in Peshawar on Monday.

Deputy Attorney General (DAG) Raja Shafqat Abbasi made a brief remark during the hearing, citing a July 2020 meeting of the CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora) Management Authority. The conference determined that the Peshawar Zoo doesn’t have a suitable environment for the survival of wild African elephants.

The Peshawar High Court first rejected the case in September 2020. The Supreme Court heard an appeal from an organization that contested the ruling. The petitioner, represented by Advocate Niaz Wali Khan, claimed that they had previously acquired two elephants from Zimbabwe and were responsible for their feeding and maintenance. Despite this, permission to import elephants was denied.

The DAG noted how the PHC earlier asked the Ministry of Climate Change to summon a meeting of the CITES Management Authority of Pakistan following the first round of proceedings under Section 15 of the Pakistan Trade Control of Wild Fauna and Flora Act 2012.

The meeting’s goal was to determine if the Peshawar Zoo was adequately equipped to accommodate and care for elephants. In accordance with the mandate, in July 2020, a meeting was convened at which it was determined that the zoo could not provide the appropriate habitat.

As per the present petition, however, representatives from the Zimbabwe Part Wildlife Department visited the Peshawar Zoo, extensively evaluated the location, and determined that it was suitable and favorable for elephants.

Source: Pro Pakistani