Universal Sompo General Insurance Archives

Universal Sompo General Insurance ties-up with Puduvai Bharathiar Grama Bank

November 16, 2020 team Comments Off

Universal Sompo General Insurance ties-up with Puduvai Bharathiar Grama Bank on 11th Nov 2020. Puduvai Bharathiar Grama Bank operates in the entire union territory of Puducherry, covering all four regions — Puducherry, Karaikal, Mahe & […]

Universal Sompo General Insurance appoints Nilesh Mejari as CFO

November 11, 2020 team Comments Off

Universal Sompo General Insurance, a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments Corporation and Sompo Japan Insurance ropes in Nilesh Mejari from German reinsurer, Munich Re India Ltd as its […]

For years, the biggest challenge in the recruiting industry has been manually testing applicants, thankfully Artificial Intelligence (AI) is now a reality. AI for recruitment has been a rapidly evolving platform for HR professionals. The days of reading CVs and covering letters then holding interviews will give way to AI-led candidate assessment. Jobseekers will be sifted by algorithms and face exercises that test everything from problem-solving skills and creativity to how they respond to stress. It empowers HR professionals to reach the right candidate in the least possible time with low-cost inclusion. In a recent study, 52% of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large applicant pool. According to a survey of talent acquisition leaders, 56% say their hiring volume will increase this year, but 66% of recruiting teams will either stay the same size or contract. This means that recruiters are being tasked to do more with less. If you are a business leader looking to hire or recruitment manager of a firm on the lookout for new employees, then you should consider the fast-rising employment solutions that provide AI-enhanced recruitment to clients. It is crucial for any growing company and business to not merely hire employees, but rather to recruit the most qualified and suitable employee for the vacant position. In the modern business climate, he always wins who starts first as very soon HR in India will be a reincarnated industry and so to keep up with advancements HR professionals should gear up with AI technologies. It’s a technological revolution so it’s mandatory to start early and reap its real benefits. There are several benefits that differ from AI-enhanced HR solutions from traditional ones. The first and prior is that it saves time. Manually screening resumes is a daunting task in the hiring process, but not if you are using an AI-enabled recruitment strategy. AI is becoming the backbone of the industry for companies that need to recruit thousands of employees in a short time. The only thing left for the recruiter is to provide the AI with a database to work on and to check the final list of the candidates before the AI sends out emails for an interview. The AI-based recruitment system is evolving at a very fast pace, Mr. Kunal Gupta, MD, Mount Talent Consulting Pvt. Ltd., said…. “A recruitment system based on artificial intelligence is capable of screening candidates in a more systematic way while looking out for a particular set of skills without any human intervention and it is quite amazing. It has algorithmic power to conclude the performance of job applicants. It can even track online interviews on a time basis. If an applicant finds difficulties in any kind of topic, then AI will ask similar questions, again and again, to check how the applicant reacts in pressure” he said. Kunal noted that with AI, the only thing you have to do is provide the system with certain input or parameters and database and it will deliver the best possible solution. AI recruiting systems are designed to tremendously improve recruiter's efficiency and workflow. The best part about recruitment through an automated system is that not only does it save time, but you also won't miss any talented candidates. The system’s efficiency ensures the most talented candidates are among the first ones sent invitations for an interview. Today’s business leaders are always looking for improved quality of hiring and so there is tremendous work pressure on recruiters to match and hire the candidates who can meet the management expectations. AI optimized hiring will help you improve your hiring process saving you a lot of your time, money and mos”t importantly getting the right hires. Employing technological solutions and replacing manual jobs are mostly the cost-saving tactic which goes the same with the recruitment sector. AI recruitment software is designed in a way that automatically targets the potential employee and most capable job seekers, delivering better and faster solutions at a low cost. Additionally, all these factors, benefits, efficient processes and solutions that AI delivers have an effect on reducing your cost per hire. You only have to invest in the AI system once unlike the recurring costs of recruitment agencies that charge you for the employee per hire. Although there are many challenges to leveraging AI's full potential. First is competence, as the AI ecosystem, like its most important subfield, machine learning (ML), is still very small. It's difficult to find and hire good talent. The simple way to solve it out is to hire an agency which has highly skilled professional familiar with AI technologies to give your HR team the AI training on fixed intervals. Non-adoption is another major risk. Any challenge in the world, and especially in business, is an opportunity for AI. Adopting Artificial Intelligence will require patience and a willingness to learn, and will be complex and lengthy, so firms need to start now. To conclude, AI being in the early stages is already doing wonders in the process of finding and hiring the best talent. Between the ongoing development of AI to recruit applications and the understandable lag in implementation at this early stage, many of the features that AI can bring to the recruitment process are still to be completely implemented. Still, we can talk with confidence and aware HR professionals about what AI can, and in some cases, already do, do for recruiters.

USGIC Launches India’s 1st AI-powered Conversational Agent for Motor Insurance

July 30, 2020 team Comments Off

Mumbai, July 30, 2020: The Covid-19 pandemic has caused ambiguity and disruption in customer services across the world and has changed the lives of people in unthinkable ways. In these unforeseen circumstances, Universal Sompo General […]

Universal Sompo General Insurance appoints Mr Sharad Mathur as MD and CEO

June 5, 2020 Praveen Comments Off

Sharad Mathur has been appointed as Managing Director & CEO of Universal Sompo General Insurance Company Limited w.e.f. 2nd June 2020. He will lead the company’s overall operations and report to the Board of Directors. […]

Allahabad Bank Launches Super Healthcare Policy with Universal Sompo General Insurance Company

January 7, 2020 Praveen Comments Off

Universal Sompo General Insurance Company Launches Super Health care policy with its Partner Bank i.e. Allahabad Bank. The product is now available with Top Up & Super Top Up cover with Sum insured up to […]

Universal Sompo empowers unemployed youth under the”Skill Development Program” to act as company’s agents

October 11, 2019 Praveen Comments Off

Universal Sompo General Insurance Company Ltd., a joint venture of Allahabad Bank, Indian Overseas Bank, Karnataka Bank Ltd, Dabur Investment Corporation and Sompo Japan Nipponka, recently held a function in presence of Hon’ble Union Minister […]