HDFC ERGO Launches the First-of-Its Kind ‘Trip Projector’ Policy in Indian Market

HDFC ERGO General Insurance Company, India’s third-largest non-life insurance provider in the private sector, today announced the launch of ‘Trip Protector’ insurance policy, a pioneering policy in the non-life insurance segment in India. In the event of a cancellation, either a flight or hotel booking, Trip Protector insurance policy will safeguard travellers financially against the cost of cancellation levied by Hotels or Airlines. In addition, the policy will provide the travellers a cover against cancellation of a pre-booked room, in case they are refused accommodation on arriving at the Hotel due to overbooking.

Travellers often plan their vacations in advance basis either public holidays, festivals or school academic year, thereby allowing them to avail of the early bird fares offered by hotels and airlines. However, sometimes these plans may be altered closer to the date, thereby leaving the traveller with a huge financial loss by the way of cancellation fees/charges. In such an unfortunate situation, the ‘Trip Protector’ Insurance policy by HDFC ERGO will cover the cancellation of pre-booked flights and hotels for domestic as well as international travel. The policy is initially being offered to customers of HDFC Bank on the purchase of Airline tickets or Hotel Bookings done using their individual HDFC Bank credit cards.

Commenting on the launch of the new policy, Mr Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance Company said that, “Customer satisfaction is of paramount importance for us and we are constantly looking to provide innovative solutions, in alignment with our customers' ever-evolving needs. We observed that, despite meticulous planning, travel plans may get cancelled due to unfortunate events, leaving the travellers with huge financial losses due to the cancellation fees. While travel insurance offers a smooth travel experience, this policy will help travellers’ pre-plan their trips without any fear of cancellation. Sensing this gap, the Trip Protector insurance policy will allow travellers to book their airline tickets and hotels, carefree in advance. The policy also refunds cost incurred towards visa, over and above the hotel and flight booking charges in the event of cancellation for any reason.”

Trip Protector insurance policy will enable travellers to buy refundable or non-refundable tickets. Refundable tickets covered by the policy will ensure that the end customer incurs no additional expenses, in the unfortunate event of a cancellation. This policy, however, is not applicable in case the flight or the hotel cancels in its own accord. The policy is an All Risk Policy where ticket cancellation by customers, due to any reason, will be covered.

3i Infotech and its Leadership Bag Prestigious Global Awards 2019

3i Infotech Limited, a global Information Technology company has started 2019 on a winning note, with the company being named as one of ‘Asia’s Greatest Brands’ and its MD & Global CEO Mr. Padmanabhan Iyer being honored as one of ‘Asia’s Greatest Leaders’ by the Asian Business & Social Forum 2019. The awards were presented to the company at the 3rd edition of ‘Asia’s Greatest Brands & Leaders’ at a glittering ceremony in Singapore, as part of the ‘Pride of Asia’ awards series of AsiaOne magazine and URS Consulting.

Speaking on receiving the prestigious double accolades, Mr. Padmanabhan Iyer, MD & Global CEO, 3i Infotech said, “3i Infotech as an organization and I personally, are delighted and humbled to have received these prestigious awards among luminaries within the industry. It reinforces our commitment to all our stakeholders in delivering quality and excellence over the years. We as a company are growing and have re-invented ourselves as a future-ready organization, delivering next-gen solutions to our customers globally.  By constantly upgrading its comprehensive set of IP based software solutions & IT Services solutions, the Company sustains its cutting edge advantage in addressing the dynamic requirements of Banking, Insurance, Capital Markets, and Asset & Wealth Management (BFSI).”

The award recipients were selected on the basis of primary and secondary research across 16 industries under 62 sub categories in Asia, with evaluation and scoring by independent jury members, United Research Services International’s primary and secondary data collation and the AsiaOne editorial team, and the entire process reviewed by PricewaterhouseCoopers.

IESA Enters into Partnerships with MeitY and STPI to Spur Growth of the ESDM Industry

India Electronics and Semiconductor Association (IESA), the premier industry body for the Electronics System Design and Manufacturing (ESDM) industry in the country, successfully concluded Day 1 of its flagship event - the Vision Summit 2019. The 14th edition of the Vision Summit, themed “Intelligent Electronics and automation- Unleashing the USD 400 billion opportunity”, featured a powerful line-up of speakers including Dr. Walden C. Rhines (CEO, Mentor Graphics- a Siemens Business), Nivruti Rai (Country Head Intel India and VP Data Center Group, Intel Corporation) and other industry experts offering their views on the future of semiconductor and electronics industry by exploring trends, challenges, and opportunities shaping the Indian industry.

The inaugural session was presided over by Gopalakrishnan – IAS, Joint Secretary, MeitY, Govt. of India and Dr. Omkar Rai, Director General, STPI. Both highlighted the importance of nurturing the start-up ecosystem in the country to promote innovation and encourage innovative disruption.

Key announcements at Vision Summit 2019

MoU signed with MeitY: IESA signed an MoU with MeitY to focus on strengthening the start-up ecosystem. As a part of this engagement, IESA will be the industry partner for the Ministry’s start up focused activities
Letter of Intent with Software Technology Parks of India (STPI): STPI will be unveiling over twenty software and hardware focused Centres of Excellence (CoE) across India. The aim of these CoEs will be to spur exchange of ideas, promote knowledge sharing, and support entrepreneurs with market access, technology and mentorship. IESA exchanged a Letter of Intent with STPI to be the industry partner for the hardware focused CoEs across India. As part of this engagement, a digital online platform – E-Playground - will be introduced to connect all stakeholders of the start-up ecosystem.

Report on the ESDM sector: Dr Satya Gupta, IESA, Executive Council & CEO SenZopt and Ajay Jalan, Founder & Managing Partner, Next Orbit Ventures prepared by Frost and Sullivan, launched an industry report on the Semiconductor & Electronics Market in India. Highlights of the report:

The Indian ESDM industry is expected to grow at a CAGR of 21.6% by 2025. This is four times the global growth rate
The Electronic Product Market has the potential to expand to USD 497 billion by 2025. Smart Phones, Defence and Engine Control Units are the demand creators
30 products across all segments of electronics constitutes over 79% of the revenue
The demand for domestic wafer has the potential to reach 17.3 million in volume by FY’25. The top 30 products would contribute to 71% of the total wafer requirement in FY’25

While presenting the ESDM report, Dr Satya Gupta, IESA, Executive Council & CEO SenZopt, announced that its member campaigns contributes USD 20 billion to the ESDM market with 2.5 lakh direct jobs and 10 lakh indirect jobs. He also said “India has had a very good success in the tech services industry for last 2 decades. We have the right talent and leadership to embark on the entrepreneurship journey. Govt and IESA should work together to enable these innovators to develop end-to-end solutions for India and global market place. Vision Summit is the key platform to have discussions and deliberations to build a vibrant ESDM solutions eco-system in the country.”

Rajesh Ram Mishra, President, IESA said, “The difference between consumption and production of electronics in India is going to create USD 300 billion import burden for our country. Our aim is to reduce this gap by at least USD 100 billion through Intelligent Electronics initiatives, design-led manufacturing and skill building. The mega trends of Industry 4.0, Smart Cities, 5G, AI & ML, Healthcare and Wellness are providing opportunities for large number of start-ups from India to work towards bridging this gap as well as cater to the world need.

Anil Kumar Muniswamy, Chairman, IESA and Managing Director, SLN Technologies said, “IESA continuously works to bring all relevant stakeholders on a common platform to deliberate on how we can create a strong ESDM ecosystem in the country. Our aim is to put in place the right policies and infrastructure, encourage start-ups and entrepreneurs by providing support, and work with the industry to provide the right mentorship and guidance for the growth of this industry. With India being the bright spot on the global business map, we believe that now is the right time to drive innovation and disruption in this industry. This year, Vision Summit is pushing the boundaries of creating solutions to make India a global design-led manufacturing hub.”

250 Million More Woman Became Mobile Owners in Low and Middle-Income Countries Since 2014: GSMA Study

A new GSMA study reveals that 80 per cent of women in low- and middle-income countries are now mobile owners. According to the GSMA’s 2019 Mobile Gender Gap Report released today, mobile is the primary means of internet access in these markets, where 48 per cent of women use mobile to get online.

However, despite the growth in connectivity, the gender gap in mobile ownership is not closing. Women remain 10 per cent less likely than men to own a mobile phone in low- and middle-income countries, and 23 per cent less likely than men to use mobile internet. The mobile gender gap varies by region and country but is widest in South Asia where women are 28 per cent less likely than men to own a mobile device and 58 per cent less likely to use the mobile internet.

“We are seeing significantly increased mobile access for women, however in an increasingly connected world, women are still being left behind,” said Mats Granryd, Director General, GSMA. “While mobile connectivity is spreading quickly, it is not spreading equally. Unequal access to mobile technology threatens to exacerbate the inequalities women already experience.”

Taking Action to Address the Mobile Gender Gap

Mobile operators are taking action to address the mobile gender gap and leading an effort to drive digital and financial inclusion for women. As part of the GSMA Connected Women Programme’s Commitment Initiative, nearly 37 mobile operators from 27 countries across Africa, Asia and Latin America have committed to reducing the gender gap in their mobile money or mobile internet customer base by 2020. These operators have provided over 16 million additional women with access to digital and financial services since 2016.

“Ensuring digital and financial inclusion for women is critically important, as we know that when women thrive, societies, businesses and economies thrive,” added Granryd. “Reaching the 432 million women in these countries who are still unconnected will require concerted effort and coordination from the mobile industry, as well as policy makers and the international community.”

Women highlighted affordability, literacy and digital skills, a perceived lack of relevance, and safety and security concerns as the top barriers needing to be addressed in order to further decrease the mobile gender gap.

Opportunity for Significant Economic and Commercial Growth

The GSMA found that closing the gender gaps in mobile ownership and usage represents a substantial commercial opportunity for the mobile industry. Over the next five years, low- and middle-income countries could gain an estimated additional $140 billion in mobile industry revenue if operators could close these gender gaps by 2023. The GSMA also found that closing the mobile gender gap could be an important driver of economic growth. These markets could also add an additional $700 billion in GDP growth by 2023.

Senior Citizens Celebrate the Week of Love with Big Bazaar’s Young Elder’s Walkathon

While everyone shares gifts to make their loved ones feel special, what’s better than gifting yourself with a healthier life? Big Bazaar, one of India’s leading hypermarket by Future Group organized Young Elder’s Walkathon today on 16th February to celebrate love for fitness and good health. Big Bazaar’s Young Elder’s Walkathon was held in 40 plus cities with over one lakh participants who joined the walkathon in their respective cities.

As part of Big Bazaar’s Young Elder’s Walkathon, a path was identified 1km away from the respective store in each city. Young elders participating in the Walkathon demonstrated what true love stands for by happily joining the 1km walk to the stores where they were provided with refreshments. The young elders who participated were overwhelmed with happiness at the finish line for completing the Walkathon.

Mr. Sadashiv Nayak – CEO at Big Bazaar, commented on the initiative saying, “Age is truly just a number and the walkathon held across the country was a testimony of this phrase. Young Elders as we address them at Big Bazaar form an integral part of all our stores; which is why year-on-year and week-on-week we dedicate a day to glorify their presence. We are happy to see many young elders participate in the walkathon every year.”

Voyants Solutions Industrializes BIM Workflows to Design Iconic Station for Indian Railways

Voyants Solutions Private Limited was selected to design an iconic new Gwalior Railway Station that would complement the existing station and attract tourism. The firm used BIM models and workflows to optimize building design and incorporate existing structures. Voyants Solutions designed a structure and development plan that specifically accommodated the challenging requirement of keeping the existing station fully operational during construction.

Like the city of Gwalior, the railway station will be a combination of new and old. The station sits between the old city of Gwalior to the west and the new settlement to the east. The proposed design embraces the old heritage station, which remains a focal point, and adds a light-weight shell structure based on the arch of the existing building. These new modular three-dimensional arches will bring light and new life to the complex. The project designers faced unique constraints to their design since the station will remain fully operational with all platforms open during construction. Voyants Solutions determined that it could meet these specifications with a framed structure, where multiple components could be fabricated off-site and placed in position with the help of cranes. The construction team would cast the pile foundations in-situ, using auger boring and self-compacting concrete.

Voyants Solutions constructed a complete BIM model using Bentley software. They designed the structure in MicroStation and STAAD.Pro, then created a digital engineering model in OpenBuildings Designer. The design required parametric modeling, 3D modeling, and animation. Given the parametrically controlled model, a base component was generated and informed based on site constraints. The complete BIM model made it easy to understand design requirements and optimize project results. Sustainability was a key feature of the design. The team used building energy modeling technology to optimize natural light and minimize the heat gain of the building. By incorporating large overhangs, shading features, and natural ventilation, the firm reduced the heat gain of the building by 40 percent.

A team of five designers at Voyants Solutions prepared the plan set and 3D model for this project in one month. Voyants Solutions estimated labor-hour savings of 30 percent for this proposal and a 500 percent ROI for the project. Bentley software helped the organization industrialize its BIM workflows to quickly deliver a high-quality design with a cohesive scheme.

Upendar Rao Kollu, managing director at Voyants Solutions, said, “Innovative designs need innovative applications. Bentley applications have allowed the multidiscipline team to work on a single platform and create iconic designs.” The Voyants Solutions team succeeded in creating a visually stunning and functional design for the Gwalior Railway Station that will improve passenger-related amenities, serve as a community hub, and contribute to the economic development of the local community.

ABB Wins Rs 270 Crore Train Technologies Order for Indian Railways

ABB has won its largest traction equipment order in India, worth more than INR 270 crore to supply state-of-the-art converters for electric locomotives from Diesel Locomotive Works (DLW), in Varanasi. The converters are custom designed for Indian Railways and will be manufactured at one of ABB’s largest factories for locomotive applications in Nelamangala, near Bengaluru, in Southern India.

ABB’s traction solution is based on the latest technology to bring more reliable trains to passengers, while increasing sustainable transport use by moving from diesel trains to electric. This helps rail operators to achieve significant operational improvements.

“We are delighted to be contributing to the electrification of India’s rail network with ABB’s locally manufactured solutions,” said ABB CEO Ulrich Spiesshofer. “By adopting advanced technologies, India is achieving rapid improvements in growth and productivity and shaping its economy for the era of digitalization.”

“We are privileged to work with DLW and Indian Railways on the electrification of the domestic rail network in India – the fourth largest rail network in the world,” said Sanjeev Sharma, Managing Director, ABB India. “This order will help to improve rail efficiency, so that passengers travelling in India will reach their destination on time and in comfort.”

Today, ABB traction equipment successfully drives more than 250 electric locomotives operated by Indian Railways for both passenger and freight services. In India, more than 20 percent of three-phase electric locomotives are equipped with traction converters from ABB. Last year, the Indian government approved plans to fully electrify the Indian Railways by 2022.