Page 28 - Insurance Times April 2019

Date of Loss, it involves unknown elements of inflating Final - Families of passengers may also file legal suits against
Claim amount. Boeing – the Aircraft Manufacturers.

Grounding of Aircrafts and Air Crafts Grounding of Aircrafts by Airlines are normally not covered
Manufacturers Liability:- by Insurance and reinsurance covering Air lines world over.

Boeing the manufacturers of 737 MAX 8 have to pay
compensation as per their liability to various countries Conclusion:-
airlines who have suspended flights using Boeing 737 MAX Boeing 737 MAX 8 has a complicated Autopilot System
8 as pre-emptive measures. which confuses pilots who find problems to handle control
systems.
Grounding of Aircrafts 737 MAX 8 involve all 371
Aircrafts. Natural tendencies among Pilots is to depend more on
- The biggest setback is the bestselling 737 MAX 8 type Autopilots Systems and Computer software used by
7600 places of around $ 550 BLNS may be cancelled. manufacturers.
- Boeing will have to replace existing Auto Pilot Systems
by a new improved computer software and incur Perhaps proper training of pilots to skilfully handle Autopilot
additional costs to train Pilots. system of Boeing 737 MAX 7 is the cause of weak manual
controls of pilots flying these sophisticated Aircrafts of latest
- Battery fix cost in jets is US$ 465,000 per plane. Their generation.
plane will be more than billion US$.
- Airlines have started demanding compensation for The main lesson to be learnt is to carry out Training of pilots
technical defaults in 350 Boeing 737 Max 8 already in in exercising Manual Controls Rather than over dependence
the fleets of various airlines world over. on Autopilot Systems. T

Digit Insurance crosses Two Million customers in 16 months

Digit Insurance—a new-age insurance company, which aims to “Make Insurance Simple”— announced that it crossed
a landmark achievement of two million customers within a short span of 16 months of operation. During the tenure
the company has also closed more than 30,000 claims this March 2019 with 92% Claim Settlement Ratio for private
cars own damage, 91% for two-wheelers own damage, 99.5% for domestic travel, 97% for mobile and 93% for
international travel during the period April 2018 to February 2019.
Digit started its operations in October 2017, and it has expanded its distribution through its direct channel partners
including e-commerce giants like Policybazaar, Flipkart and Cleartrip. Digit Insurance has built a strong network of 1500
strategic partners including agents, brokers and dealers. Today, the company has a presence in large and small cities
and towns alike, through its distribution network.
Digit’s Chairman, Kamesh Goyal said, “The one thing that has got us this far, this quick is our strong foundation, our
mission of simplifying insurance for people on the back on simple documents, simple processes and reimagined products
with real benefits.”
He added, “As we strive to achieve bigger milestones, our focus in the coming year would be to further simplify claims,
using technology as an enabler, for example with processes like Video Calls during Claims and to launch more products
that would challenge the standard products available in the market currently.”

Our Mumbai Office Address Ans. of March'19 Insurance Quiz contest
Sashi Publications Pvt. Ltd. 1. sextortion
2. Allianz Global Corporate
204, Hubtown Viva, Western
3. Maharashtra
Express Highway
4. April
Andheri East, Mumbai - 400 060
Phone: 9920220066 / 9004744058 5. Prof (Dr.) Abhijit Chattoraj
6. 2.76 and .93
/ 9903040775
7. 2%
28 The Insurance Times, April 2019