In a world where technology is increasingly taking over mundane human tasks like capping toothpaste tubes, completing sentences, managing inventory and even driving, automation has played a huge role in the workplace economy by helping cut down human input on repetitive tasks.
It is estimated that office productivity loss due to employee time spent on administrative tasks (that can be easily automated) costs nearly $5 trillion annually, and roughly 69 workdays are spent doing such tasks. For gig economy workers and independent professionals who earn money based on the time they spend producing results-oriented work, this loss in productivity translates directly into decreased incomes.
This and many other reasons compelled Gaurav Tripathi, a graduate of IIT-Bombay, to set up Superpro.ai – a platform that helps independent professionals save time and earn more money by using artificial intelligence and automation to help perform time-consuming, yet simple tasks such as scheduling consultations, collecting payments, sending email reminders for follow-ups, generating invoices and sorting and collecting data, among others.
Gaurav says Superpro’s value proposition is that it substantially helps independent professionals increase their billable hours. It also gives them access to analytical tools that provide insights on how professionals can maximise their productivity, improve their performance and grow their business faster – stuff that was previously only available to big corporates.
“We combine nearly eight to nine tools that professionals would have required to offer their services, into one, and save them a lot of precious time which they can spend on billable tasks,” says Gaurav, in an interview with YourStory.
The platform, in addition to backend automation and analytics, allows professionals to create their own professional page that highlights their expertise and services – starting with a video message that it asks its users to shoot and upload. It gives businesses wanting to get in touch with professionals listed on Superpro several contact points within the platform, without ever revealing their personal information such as emails or phone numbers.
Most of the ‘solopreneurs’ on the platform use it to offer video-based services such as consultations, webinars, coaching, live courses, and training, among others.
An screengrab of Superpro.ai's platform
[TechSparks 2020] PolicyBazaar CEO on why COVID-19 has been 'the mother of all wake-up calls'
COVID-19 accelerating the ‘future of work’
Due to the COVID-19 pandemic, there has been a significant increase in the number of people coming online to look for work, and geographical boundaries have blurred between those offering services and those needing them.
Gaurav says he has seen an uptick in the number of professionals on Superpro over the last couple of months too – more than 1,000 people are now offering services ranging from music and dance lessons, to live cooking classes, on the platform.
“Where earlier professionals were able to sell their services only in their neighbourhood or their cities or towns, geographical boundaries have now expanded. We had someone recently sell piano lessons to learners in the US, so no longer do people have to stay confined to their geographical location,” he adds.
Users have to spend not more than two minutes to get set up on the platform, which comes pre-loaded with a host of software and applications that enable video calling, payment collection, email automation, etc.
“Professionals can start delivering without any investment – they don’t need to buy subscriptions, websites. Their only investment is their laptop or their mobile phones,” Gaurav quips.
The sign-up and the services are free for Superpro users – the startup only takes a small cut of the money they make, when they start making it.
“We get paid when you, a Superpro user, gets paid,” he says.
The startup, founded in August 2019 by Gaurav and his co-founders Vijay Goel, Vivek Kumar, and Sagar Ramteke, earns over Rs 5 lakh, annually. Superpro.ai, which has been incubated by SOSV is currently looking to raise $500,000 over the next one month.
Edited by Anju Narayanan
Original Source: yourstory.com
This is a preview of The Digital Identity And The Future Of Banking research report from Business Insider Intelligence.
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Disruptive digital-only banks, innovative regulations, and shifting consumer demands have made today’s banking digital-first — but the benefits of digitization are being held back by identity verification challenges.
Identity verification underlies many of the core processes associated with financial services, with banks required to subject their customers to strict identity checks, both to protect those users’ finances and to meet regulatory compliance demands.
There have been a plethora of efforts aimed at streamlining identity verification online, but these attempts have largely failed to address the issue in its entirety. For example, customers are often required to create unwieldy passwords and verification details that can be difficult to keep track of to access their accounts. Not only have these efforts created new points of friction for users, but they’re also expensive for banks, with each password reset costing up to $70 according to Forrester Research estimates.See the rest of the story at Business Insider
Deutsche Bank is partnering with Google Cloud to use its cloud computing capabilitiesPaytm has agreed to acquire insurance firm Raheja QBE for $76 millionGig workers pose a huge revenue and brand image opportunity for banks
Original Source: feedproxy.google.com
Tottenham vs Manchester United
This Friday, Tottenham are scheduled to host Manchester United in the Premier League.
Both clubs are trying to secure a Champions League berth via the league.
United are in the better position with 9 matches to go. Sat 5th, United are only 3 points behind Chelsea.
Tottenham have ground to catch up, sitting 8th on 41 points.
Paul Pogba set to be dropped vs Spurs
While there are several days to go before the Spurs vs United match, the Athletic report on Monday that Paul Pogba is unlikely to appear in Ole Gunnar Solskjaer’s starting XI in north London.
Pogba has been restricted to only 7 appearances in the league this season.
However, the French World Cup winner has been back in training for weeks, and many had begun to look forward to seeing Pogba and Bruno Fernandes in the same team for the first time.
There’s still a chance the French and Portuguese midfielders will team up at Tottenham. But, according to reporter Laurie Whitwell, Pogba is set to begin the game on the bench:
United are understood to be working on a starting XI without the Frenchman.
Pogba has not faced Mourinho since their combustible relationship came to an end at United but plans, at this stage, are for other midfielders to start the encounter.
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Why might Pogba be benched vs Tottenham?
The Athletic offer the following reasons to explain why Solskjaer is planning to leave Pogba out of United’s XI at Tottenham.
– Pogba must earn his spot: Prior to the coronavirus pandemic, Man United were on an 11-game unbeaten run. Players like Fred had impressed, and those midfielders have secured the right to keep their spots for now.
– Pogba’s match fitness concern: Pogba might be back in training, but that doesn’t mean he’s match fit. The Athletic note the Spurs game comes 176 days since Pogba last appeared on the pitch.
– Dropping Pogba is tactical: According to Laurie Whitwell, “others point to the fact United may need insurance in midfield against quick Tottenham counter-attacks.” Of course, Spurs should have Harry Kane and Son Heung-min in their XI on Friday.
So what will Man United’s midfield be against Tottenham?
If Man United are worried about Tottenham’s counter-attacks, Scott McTominay and Fred could both be deployed to shield United’s back four.
United could then field Daniel James and Anthony Martial in wide attacking roles, Bruno Fernandes in the #10 slot and Marcus Rashford up top.
Other Tottenham vs Man United team news
Man United only have one injury concern: Phil Jones.
Meanwhile, Tottenham will be without Dele Alli following his FA ban.
Also see: Tottenham are interested in signing Chelsea’s Kurt Zouma as Juan Foyth is set to join Leeds United.
Wilfried Zaha addresses the rumour about David Moyes’s daughter from his time at Manchester United.
Original Source: 101greatgoals.com
With all of us restricted to our homes, huge stress triggers about our health form the backdrop of the coronavirus pandemic. How many times do you find yourself worrying anxiously about the what-if scenarios, only to search online for COVID-19 insurance? A quick search online, a few clicks on your favourite digital wallet app and you are all set to face the novel virus just with a few hundred rupees. Phew, easy isn’t it?
The insurance sector is now witnessing a slew of new players joining the fray, selling insurance primarily online, keeping costs and premiums low (including ‘sachetising’ the product) to disrupt the traditional model of buying and servicing the insurer.
Appealing to the digitally-savvy Indian consumer is easier than ever as more Indians take to the internet and offer the largest opportunity globally (apart from the US) for venture capitalists to target Indian customers. And why not, you ask?
Also ReadNikhil Kamath of Zerodha on everything you need to know about investing and trading during COVID-19India is a goldmine for any investor as it has:The second-largest population in the world (second only to China which is closed to outside investments)More than 50 percent of its population is below the age of 25 and more than 65 percent below the age of 35. It is expected that, in 2020, the average age of an Indian will be 29 years.The lowest cost of data globallyThe second-largest smartphone population in the worldRoughly 600 million monthly active customers accessing the world wide webLowest levels of insurance penetration at 3.69 percent.
Consumers are bombarded with product information, how to buy insurance online for their cycle, their mobile phone, even their branded spectacles – all on their devices.
This zealousness of the investor community in India’s fast-emerging disruptor of the large insurance companies (standing at 24 life insurers, 34 general insurers) is reflected in the $183 million that flowed into the ecosystem in 2019. This has lead to the emergence of a new category of fintech called InsurTech.
InsurTech is a combination of the words “insurance” and “technology,” inspired by the term fintech. InsurTech is a term used for a company using technology to disrupt the insurance industry.
India stands at the second position, globally, given PE/VC investments in InsurTech (cecond only to the US). It’s noteworthy, that large technology companies, global digital giants such as Amazon, Google, Alibaba, and Tencent have all entered the InsurTech fray, creating global disruption.
Policybazaar and Bankbazaar have become the go-to destinations for aggregated experiences across search, discovery, and comparison. Customers aren’t, however, looking for life insurance but searching for incident-specific protection – like missing a flight, taking a cab ride on a cab aggregator platform or a hotel stay during a low-cost holiday.
This need is served by micro-insurer startups marking the emergence of an interesting new trend disrupting the traditional model by making insurance available to all and for various micro categories, easier, cheaper and faster.
Some have partnered with large digital giants to scale distribution and use case coverage to innovate on new product categories.
Quoting from a recent piece by Rahul Mathur, Startup Lead at Accenture FinTech Innovation Lab, who writes on this sector, there are three emerging InsurTech “trends” in India —
Embedded insurance – Acko Insurance leads the pack here with its recent partnership with OYO Rooms.Small ticket insurance – Incumbent insurers have caught on fast with this trend, but Toffee Insurance stands out with its Kamai Bachao Yojna, dengue insurance, etc.Novel distribution mechanisms – Bancassurance 2.0, digital channels etc; Max Bupa Health Insurance and IDBI Bank win with the Any Time Health (ATH) machines.
In the post-COVID world, where contact-free becomes the new mantra, face-to-face meetings and operational processes requiring high touch methods are bound to get obsolete.
To deal with the pandemic, we have observed that the speed of policymaking is unprecedented, therefore, it is the right time to identify opportunities of disruption and striking while the iron is hot — the opportunity is here and now.
Also ReadWhy Kunal Shah believes you shouldn’t envy others’ money but their skills insteadOpportunities for insurers post-COVID-19
Here are five opportunities for Incumbents and Disruptors in the post-COVID world to lower the barriers of friction, knowledge, and pricing, for customers to participate in this value chain to protect themselves, their family, business, homes, and other valuable assets
1. Reimagining the core market and productReaching the un(der)insured with the right products and fit
Emerging solutions for new markets and new customers (bite-sized insurance, pay-as-you-use, bundling insurance with Use Cases)
Usage or behaviour-based personalised insurance (one size fits all strategy will not work for the new segment of users, customisation is key)2. Customer Experience Management and Reducing Friction in the product life cycle New players have been able to instantly stand-up all insurance-related processes to provide a digital experience to consumers. Taking a leaf from their book, creating a digital-first, mobile-only experience is key to winning new users.
Friction in disjointed experiences and ease of finding information has been sighted as the major reasons why consumers opt for searching for insurance products with new-age players instead of traditional insurers. Usher in innovative ways to settle claims, and catching fraudulent users while safeguarding the experience of good trustworthy individuals.
Online payments are observed even in hinterland even though India is a cash-based economy. Focus and prioritise safety, security and, convenience in payment methods to appeal to all consumers in buying insurance, paying premiums, receiving settlements, etc.3. Leverage New-Age Tech to Bolster GrowthWith the emergence of blockchain, AI, and other technologies, integrate them into now to reap the dividends later.
Sharper Underwriting to bring more people into insurance covers. Reinvent this area use of data, analytics, and Machine Learning.
Robotic Process Automation (RPA) for the automation of business activities and processes.
Using technology to aid fraud detection at the point of underwriting, assessing risk, and weeding out gamers from the ecosystem.
Robo Advisory to help users pick the right insurance products.4. Digital First (Selling and Servicing)Move away from the brick-and-mortar model of selling insurance covers, servicing clients.
Overuse 3V’s: voice, video and vernacular to over-communicate why insurance is a priority for everyone in the post-COVID era, and how to stay invested in the long term.
Drive retention and renewals with aggressive digital selling and service.
Create a social revolution: Moving education online and educating users digitally.
Rethink Human Capital Strategies: Upskilling sales and agents is key to ensuring customers do not opt for competitors who have highly qualified staff to address queries and concerns emerging from the lack of face-to-face interaction involved in the sell and the retain stages of the customer life cycle.5. Addressing Cyber Security as an Emerging Category while protecting consumer dataInvest in data privacy for customers, employees, and the business. Data breaches cost the business; brand risk is only a small casualty when compared to the cost of acquiring servicing a customer over the lifetime of the product.
Digitisation brings huge responsibility of being able to protect customer and business-sensitive data from malicious hackers.
Addressing Cyber Security Insurance as a product category: The risk of escalating cyber threats have created a completely new need for businesses to safeguard themselves with risk mitigation solutions against data breaches and cyber-attacks. Cyber insurance market is expected to grow to $9 billion by 2020. Startups in cyber insurance are enablers of ‘CISO-as-a-service’ for SMBs. This is a big opportunity as the threat of cyber attacks increases
Also ReadCoronavirus: Adapting business during COVID-19 pandemic
Whenever customer friction intersects with untapped profit potential, disruption is bound to occur. The Indian insurance sector is at the cusp of exponential growth.
For insurers to participate and contribute to this growth, it is imperative that they are not only aware of emerging trends, but also that they embrace these trends holistically.
Embracing digital transformation forged by quick decisions and investment into the business is the key to future growth and sustenance.
(Edited by Kanishk Singh)
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)
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Original Source: yourstory.com