Latest news with #PankajGupta
The Wire
2 days ago
- Business
- The Wire
Pramerica Life Insurance Achieves 99.18% Individual Claims Paid Ratio in FY25, Demonstrates Continued Focus on Customer-Centric Service
Gurugram, 26 June 2025: Pramerica Life Insurance, one of India's fastest growing life insurers, has reported a robust 99.18% individual claims paid ratio for FY24-25, reinforcing its commitment to prompt and empathetic service at life's most critical moments. This milestone builds on a consistently upward trend in claims performance over the past three years - 98% in FY22, 99% in FY23, 99.06% in FY24, and now 99.18% in FY25 - reflecting the company's focus on customer-first delivery. During the financial year, the company settled 722 individual death claims, paying out ₹34 crore towards death benefits. Maintaining an average turnaround time of just 3 days (72 hours) from the receipt of final documents, Pramerica Life has demonstrated that operational excellence and human empathy can go hand in hand. Speaking on this, Pankaj Gupta, MD and CEO, Pramerica Life Insurance said, 'At Pramerica Life Insurance, our growth journey has always been anchored in delivering meaningful value to our customers - and nothing defines that more than a claim settled with care and speed. Our 99.18% claims paid ratio is not just a performance metric, it's a reflection of the trust we've earned and our commitment to stand by families in their most difficult moments. As we scale and grow, this commitment to compassion, integrity and service excellence remains at the heart of our brand purpose.' This performance is supported by a range of customer-focused initiatives aimed at making the claims experience smoother and more transparent: • Dedicated Claims Relationship Officers are assigned to each claim, ensuring handholding through the process. • A centralised Claims Helpdesk via phone and email handles queries from both claimants and distributors. • Tele-investigations have been introduced to speed up verification and reduce delays. • Use of digital tools like QR code scanning, online checks, and integrations with CIBIL and IIB enhances the accuracy and speed of processing. • All payouts are made via direct bank transfer, ensuring timely and secure disbursement. In times of crisis - including natural calamities, terrorist incidents, or pandemics - Pramerica Life takes proactive measures by identifying affected policyholders and settling claims on priority. Special Claim Help Desks are activated in such scenarios and details are disseminated via press notes, the company website, and social media for easy access. Further reinforcing commitment, the company has 'Pratigya Kavach', a dedicated initiative for defence personnel to ensure claim settlement within 3 days, offering additional assurance and peace of mind to the segment and their families. With this strong performance and a growing suite of customer-centric initiatives, Pramerica Life Insurance continues to strengthen its position as a trusted life insurance partner, one that delivers on its promises and supports families when they need it most. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.).
Business Standard
3 days ago
- Business
- Business Standard
Pramerica Life Insurance Achieves 99.18% Individual Claims Paid Ratio in FY25, Demonstrates Continued Focus on Customer-Centric Service
VMPL Gurugram (Haryana) [India], June 26: Pramerica Life Insurance, one of India's fastest growing life insurers, has reported a robust 99.18% individual claims paid ratio for FY24-25, reinforcing its commitment to prompt and empathetic service at life's most critical moments. This milestone builds on a consistently upward trend in claims performance over the past three years - 98% in FY22, 99% in FY23, 99.06% in FY24, and now 99.18% in FY25 - reflecting the company's focus on customer-first delivery. During the financial year, the company settled 722 individual death claims, paying out ₹34 crore towards death benefits. Maintaining an average turnaround time of just 3 days (72 hours) from the receipt of final documents, Pramerica Life has demonstrated that operational excellence and human empathy can go hand in hand. Speaking on this, Pankaj Gupta, MD and CEO, Pramerica Life Insurance said, "At Pramerica Life Insurance, our growth journey has always been anchored in delivering meaningful value to our customers - and nothing defines that more than a claim settled with care and speed. Our 99.18% claims paid ratio is not just a performance metric, it's a reflection of the trust we've earned and our commitment to stand by families in their most difficult moments. As we scale and grow, this commitment to compassion, integrity and service excellence remains at the heart of our brand purpose." This performance is supported by a range of customer-focused initiatives aimed at making the claims experience smoother and more transparent: - Dedicated Claims Relationship Officers are assigned to each claim, ensuring handholding through the process. - A centralised Claims Helpdesk via phone and email handles queries from both claimants and distributors. -Tele-investigations have been introduced to speed up verification and reduce delays. - Use of digital tools like QR code scanning, online checks, and integrations with CIBIL and IIB enhances the accuracy and speed of processing. - All payouts are made via direct bank transfer, ensuring timely and secure disbursement. In times of crisis - including natural calamities, terrorist incidents, or pandemics - Pramerica Life takes proactive measures by identifying affected policyholders and settling claims on priority. Special Claim Help Desks are activated in such scenarios and details are disseminated via press notes, the company website, and social media for easy access. Further reinforcing commitment, the company has 'Pratigya Kavach', a dedicated initiative for defence personnel to ensure claim settlement within 3 days, offering additional assurance and peace of mind to the segment and their families. With this strong performance and a growing suite of customer-centric initiatives, Pramerica Life Insurance continues to strengthen its position as a trusted life insurance partner, one that delivers on its promises and supports families when they need it most.
Forbes
3 days ago
- Business
- Forbes
The Cloud Reset: Why Private Cloud Is Making A Comeback
Pankaj Gupta is Senior Director of Cloud solutions marketing at VMware by Broadcom. For over a decade, public cloud was the default answer to every IT modernization question. It was faster, cheaper and scalable—until it wasn't. Now, as the dust settles and CIOs reevaluate their cloud strategies, a striking trend is emerging: a decisive 'cloud reset.' According to my company's 2025 report—based on insights from 1,800 IT leaders across the globe—organizations are no longer viewing cloud as a one-way journey to hyperscalers. Instead, they are intentionally shifting workloads back into private cloud environments. The reasons? Security, compliance and cost control. A recent IDC research blog corroborates these findings, highlighting the increasing adoption of private cloud or on-premise computing practices. Beyond The Binary: A Strategic Mix The idea that enterprises must choose between public or private cloud is outdated. In fact, 93% of surveyed organizations already use a mix of both, but the shift we're seeing is about intention. IT leaders are starting to prioritize private cloud for the right workloads—particularly where data sovereignty, compliance and cost predictability are paramount. This isn't cloud repatriation driven by nostalgia. It's driven by optimization and business needs. Repatriation: No Longer A Dirty Word A full 69% of organizations are considering repatriating workloads, and 35% have already done so—with security-sensitive applications leading the charge. What's more telling is that 51% of those citing repatriation did so specifically for security and compliance reasons—and 46% for data-intensive workloads. In today's regulatory climate—where GDPR, HIPAA and global data protection laws dominate IT decision-making—control matters. And 92% of respondents say they trust private cloud more for security and compliance than public alternatives. Cost predictability and optimization is another key driver. As per our findings, 94% believe some of their public cloud spend is wasted, and 31% believe more than half of it is. Private Cloud: Agility Meets Control A few years ago, private cloud was considered slow, siloed and too dependent on legacy infrastructure. That's changed. Modern private cloud platforms now offer self-service provisioning, container support and integrated FinOps tools. In fact, 84% of enterprises run both traditional and cloud-native workloads in their private cloud today, demonstrating that private environments are no longer just for legacy applications. More impressively, 53% of enterprises plan to deploy new workloads in private cloud, reflecting growing confidence in its agility and maturity. The Generative AI Factor With generative AI moving up the CIO priority list, private cloud is also emerging as a strategic foundation for AI workloads that require data privacy, low latency and cost control. Hyperscalers offer unmatched scale, but organizations are growing wary of exposing proprietary data to third-party platforms. Running LLMs and inference engines in a controlled, compliant private environment offers a compelling alternative. Why The Reset Now? This 'cloud reset' isn't reactive—it's reflective. IT organizations have gained real-world experience and are recalibrating based on five key realities: 1. Security Is Nonnegotiable: Nearly a third of IT leaders cite public cloud security risks as their top challenge. 2. Financial Waste Is Visible: Cloud cost unpredictability is a board-level issue. CIOs need clarity and control. 3. Compliance Isn't Optional: Global regulations are forcing tighter control over data residency and access. 4. Skills Matter: Running private clouds well requires talent and breaking operational silos. Many are now reskilling and reorganizing their teams accordingly. 5. Application Needs Vary: Back-office, data-heavy, and even modern apps now have viable paths in private cloud. This isn't about undoing cloud migration. It's about optimizing placement—application by application—based on business, regulatory and financial priorities. The Way Ahead To truly harness the power of the private cloud, organizations must do three things: 1. Break Silos: IT teams need to break down their traditional silos to achieve business goals, such as better agility, cost optimization and regulatory compliance. They can do this by encouraging collaboration across different IT and business teams, facilitating better data-sharing and communication practices. 2. Invest In Cross-Skilled Teams: To accelerate private cloud adoption, organizations need to address persistent skill gaps with focused training and vendor collaboration. 3. Treat The Private Cloud As A Platform—Not A Project: Treating the private cloud as a platform is essential for unlocking its full potential, fostering continuous innovation and agility for the entire organization. This strategic shift moves beyond a one-off project mindset, focusing instead on building a foundational environment for ongoing development and value creation. IT leaders should also ask themselves a few questions to embrace this mindset. What workloads make sense to move back? Which ones should stay public? And how do we maximize both? The cloud conversation is evolving. From cost to compliance, and from generative AI to governance, the smart enterprise isn't choosing sides—it's choosing strategy. Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
Hans India
4 days ago
- Business
- Hans India
Hyderabad Welcomed élevé Diamonds – A New Era of Ethical Luxury Begins
Hyderabad: The city of Hyderabad marked a dazzling new chapter in luxury with the grand launch of élevé Diamonds, a next-generation diamond jewelry brand from the house of Tibarumal Jewels. The flagship showroom in Kokapet was officially inaugurated by Miss Universe Telangana 2025 – Ms Kashvi and Mrs. India Crown Winner – Dr. Preethi Adusumilli, in a star-studded event that blended elegance, legacy, and modernity. The brand's leadership, including Pankaj Gupta, Trishank Gupta, and Abhiram Agarwal, addressed the media and shared their vision of elevating ethical luxury. élevé Diamonds introduced Hyderabad to IGI-certified, precision-grown diamonds that are 100% real, sustainable, and conflict-free. These diamonds, created through advanced eco-friendly technology, offer a responsible alternative to traditionally mined stones—without compromising on brilliance. The brand's handcrafted, lightweight designs are tailored for daily wear, reflecting a balance of classic artistry and contemporary style. Among the highlights of the launch was the unveiling of the Charminar Collection, a tribute to Hyderabad's architectural splendor. Designed by Pankaj Gupta, known for infusing culture into every creation, the collection captured the spirit of the city in timeless designs. Staying true to its handcrafted philosophy, élevé Diamonds emphasized that no piece is mass-produced—each one is unique, elegant, and meticulously made. A portion of proceeds will support Beti Bachao, Beti Padhao and artisan welfare initiatives, reinforcing the brand's commitment to social responsibility. With future expansion planned across Banjara Hills, Kompally, Warangal, Coimbatore, and even the United States, élevé Diamonds is poised to take its message of ethical, heritage-rooted luxury to a global audience. Backed by over 100 years of trust from Tibarumal Jewels, élevé Diamonds is more than a brand—it's the beginning of a refined, responsible new era in fine jewelry. Delete Edit
WIRED
13-06-2025
- Business
- WIRED
This Chatbot Tool Pays Users $50 a Month for Their Feedback on AI Models
Jun 13, 2025 7:00 AM On Yupp, chatbot users earn cash by saying which of two prompts they prefer—info that has great value to the AI companies running the models Photo-Illustration: Wired Staff; Yupp/Getty Images To show off how easy it is for users to earn money by using his new chatbot platform, Pankaj Gupta offers to cash out $1 worth of Yupp credits, sending it to me over Venmo or PayPal. I'm talking with Gupta in the WIRED office during a prelaunch demo of Yupp, which comes out of stealth mode today. Journalistic ethics forbid accepting gifts from sources, so I politely decline. He proceeds to send it over PayPal to his Stanford alumni email. Gupta is the CEO of Yupp, which is free to use and available globally. The website looks similar to other generative AI tools like ChatGPT. There's a prompt box, a way to attach files, and a log of past conversations. The main difference is that every time users ask Yupp a question, they'll see two answers, generated by two different models and displayed side by side. Yupp routes prompts to a pair of LLMs, choosing from a pool of over 500 models that includes products from leading US generative AI companies like OpenAI, Google, and Anthropic, as well as international releases, like models from Alibaba, DeepSeek, and Mistral. After looking over the two answers, users pick the response they like best, then provide feedback explaining why. For their effort, they earn a digital scratch card with Yupp credits. "You're not being employed, but you can make a little bit of money,' says Gupta. In my testing, the Yupp credits on the scratch cards typically ranged from zero to around 250, though they occasionally went higher. Every 1,000 credits can be exchanged for $1. Users can cash out a maximum of $10 a day and $50 a month. Not sure where to start while testing this web app, I turned to the range of pre-written topics flickering beneath Yupp's prompt bar, which spanned from news topics, like David Hogg leaving the DNC, to ideas for image-creation prompts, like generating a crochet-looking surfer. (Yupp's models can generate text or images.) I eventually chose to have the bots explain different perspectives on the current Los Angeles protests. I was interested in how it would pull from news reports and other sources to generate the analysis about a political issue. Yupp notified me that generating this answer would cost 50 of my 8,639 Yupp credits; users have to spend credits to make credits on Yupp. It generated two answers, one from Perplexity's Sonar, on the left side, and one from an 'AI agent' for news built by Yupp, on the right. AI agents are buzzy right now; they're basically task-based AI programs that can perform a string of simple operations on your behalf when given a single prompt. The output based on Perplexity's model answered the question citing five online sources, including CBS News and a YouTube video uploaded by the White House titled 'Third-World Insurrection Riots on American Soil.' The other answer, generated by the news agent, cited twice as many sources, including the socialist magazine Jacobin and MSNBC. In addition to having more sources, the answer on the right side included more context about what Los Angeles mayor Karen Bass has been doing. I clicked the button saying I preferred that generation and gave my feedback, which Yupp anonymizes before aggregating. A shiny card resembling a lottery scratcher ticket popped up afterwards, and I used my mouse to scratch it off. I got a measly 68 credits for that feedback, not exactly a windfall. But since I spent 50 credits to run the prompt, it put me up by 18 credits. After about an hour of messaging with the chatbot about different topics and giving my feedback on the models, the total points accrued equaled about $4. The cash-out options include PayPal and Venmo, but also cryptocurrencies like Bitcoin and Ethereum. 'Crypto and stablecoin allow us to instantly reach anywhere in the world,' Gupta says. While I didn't earn much money, the free outputs did include answers generated by newly released models that are often locked behind subscription paywalls. If someone wants to use a free chatbot and doesn't mind the friction of providing feedback as the web interface flips between models, Yupp could be worth trying out. During the demo, Gupta asked Yupp where the WIRED office was located. Both models spit out wrong answers initially, though subsequent tries got it right. Still, he sees the side by side outputs as potentially helpful for users who are concerned about AI-generated errors, which are still quite prevalent, and want another point of comparison. ''Every AI for everyone' is kind of our tagline,' says Gupta. 'We have organized all the AI models we can find today.' Yupp's website encourages developers to reach out if they want their language or image model added to the options. It doesn't currently have any deals with AI model builders, and provides these responses by making API calls. Every time someone uses Yupp they are participating in a head-to-head comparison of two chatbot models, and sometimes getting a reward for providing their feedback and picking a winning answer. Basically, it's a user survey disguised as a fun game. (The website has lots of emoji.) He sees the data trade off in this situation for users as more explicit than past consumer apps, like Twitter—which he's quick to tell me that he was the 27th employee at and now has one of that company's cofounders, Biz Stone, as one of his backers. 'This is a little bit of a departure from previous consumer companies,' he says. 'You provide feedback data, that data is going to be used in an anonymized way and sent to the model builders.' Which brings us to where the real money is at: Selling human feedback to AI companies that desperately want more data to fine tune their models. 'Crowdsourced human evaluations is what we're doing here,' Gupta says. He estimates the amount of cash users can make will add up to enough for a few cups of coffee a month. Though, this kind of data labeling, often called reinforcement learning with human feedback in the AI industry, is extremely valuable for companies as they release iterative models and fine tune the outputs. It's worth far more than the bougiest cup of coffee in all of San Francisco. The main competitor to Yupp is a website called LMArena, which is quite popular with AI insiders for getting feedback on new models and bragging rights if a new release rises to the top of the pack. Whenever a powerful model is added to LMArena, it often stokes rumors about which major company is trying to test out its new release in stealth. 'This is a two-sided product with network effects of consumers helping the model builders,' Gupta says. 'And model builders, hopefully, are improving the models and submitting them back to the consumers.' He shows me a beta version of Yupp's leaderboard, which goes live today and includes an overall ranking of the models alongside more granular data. The rankings can be filtered by how well a model performs with specific demographic information users share during the sign-up process, like their age, or on a particular prompt category, like health-care related questions. Near the end of our conversation, Gupta brings up artificial general intelligence—the theory of superintelligent, human-like algorithms—as a technology that is imminent. 'These models are being built for human users at the end of the day, at least for the near future,' he says. It's a fairly common belief, and marketing point, among people working at AI companies, despite many researchers still questioning whether the underlying technology behind large language models will ever be able to produce AGI. Gupta wants Yupp users, who may be anxious about the future of humanity, to envision themselves as actively shaping these algorithms and improving their quality. 'It's better than free, because you are doing this great thing for AI's future,' he says. 'Now, some people would want to know that, and others just want the best answers.' And even more users might just want extra cash and be willing to spend a few hours giving feedback during their chatbot conversations. I mean, $50 is $50.
