Business briefs

Cognizant wins contract to offer digital tranformation to NICL Cognizant on Tuesday said it has been selected as a technology provider by public sector general insurer National Insurance Company Ltd NICL to accelerate and help manage its digital transformation.NICL awarded the multi-year mandate to Cognizant to elevate its technology roadmap, help manage its centralised web-based core insurance solution comprising of multiple applications, underlying technology infrastructure and security, and provide consulting services, among other, a release said.It will also support the insurers technology roadmap by leveraging digital technologies such as artificial intelligence, machine learning, automation, and microservices-based architecture.

SBI General Insurance launches cyber cover for individuals * Private non-life insurer SBI General Insurance has launched a comprehensive cyber insurance cover for individuals providing protection against financial losses arising from cyber risks and attacks.

The plan -- Cyber VaultEdge -- covers unauthorised e-transactions, loss of wages resulting from identity theft and instances impacting online reputation, including social media trolling, bullying, and stalking, a release said on Tuesday.

It takes care of any legal expenses incurred in pursuing or defending legal action against any third parties and reimburses individuals for expenses incurred to restore data by availing services of any IT specialist.

The plan also covers consultation expenses of psychologists for trauma or stress arising due to such incidents. *** Devesh Sachdev re-elected as MFIN's chairperson * Microfinance Institutions Network (MFIN) on Tuesday announced the re-election of Devesh Sachdev as its chairperson and Vivek Tiwari as its vice chairperson.

The decision was taken during MFIN's 13th Annual General Meeting (AGM), held on Tuesday, a release said.

Sachdev is the founder and CEO of Fusion Micro Finance and Tiwari is the MD and CEO of Satya Microcredit Ltd.

In addition, MFIN also announced the induction of Abhisheka Kumar, MD, Sindhuja Microcredit Pvt Ltd and Ankush Golechha, Director, Aviral Finance Pvt Ltd to represent the medium and small MFIs, respectively.

George K John, Executive Vice President, ESAF Small Finance Bank was elected as the nominee director of MFIN associates, comprising banks, small finance banks, NBFCs among others. *** Cognizant wins contract to offer digital tranformation to NICL * Cognizant on Tuesday said it has been selected as a technology provider by public sector general insurer National Insurance Company Ltd (NICL) to accelerate and help manage its digital transformation.

NICL awarded the multi-year mandate to Cognizant to elevate its technology roadmap, help manage its centralised web-based core insurance solution comprising of multiple applications, underlying technology infrastructure and security, and provide consulting services, among other, a release said.

It will also support the insurer's technology roadmap by leveraging digital technologies such as artificial intelligence, machine learning, automation, and microservices-based architecture.