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The Dangers Of Predictive Analytics In Life And Health Insurance


wealthymattersCurrently the health and life insurance products we buy are static in the sense that right at the beginning of the policy term the insurance company makes an assessment of the morbidity or mortality risk of the person and then agrees to insure them at agreed-upon rates.

Now imagine a scenario of continuous health monitoring and a dynamic premium that reduces when people engage in what is deemed healthy behaviour. A scenario where the insurer provides various “incentives” like discounts on gym memberships , wearables like fitbit and preventive healthcare check-ups etc.

The first time I came across such an idea,2 lines of thought came to my mind simultaneously: Read more of this post

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The Aadhar Game


Aadhar is a high-stakes game.

Data is a hot asset these days. And everyone , his uncle and his monkey wants to acquire or leverage other people’s data, any which way, preferably free and by using the coercive powers of the state, to build private fortunes and ensure that the whole world does their bidding, never mind how oh-so-not-in-their own self-interest it is for people to fall in line meekly .

The following is a presentation from one of the foremost proponents of Aadhar.An occasional good point here. An overriding sense of entitlement and belief that the author knows all and the best way forward and a frightening lack of empathy and disregard for what the rest of the world might feel or want.

My comments on this presentation follow below:

Read more of this post

User Data Collected By Indian Mobile Wallet Apps


Even as you try out mobile wallets , be aware of the data they collect from you and be sure you really wish to part with it. Don’t just automatically accept permission requests while installing apps without reading them. Safety and privacy are at stake.

1. Read your Web bookmarks and history
The Paytm app on Android requests access to “read your Web bookmarks and history”.

2. Read sensitive log data

Every app logs device and app specific information every time it executes a command, completes an updates, or when a user logs-in with his/her User ID. In some cases, the app can gain access to sensitive data like MAC ID, IMEI no, saved WiFi networks info, and other apps installed on the device. Sometimes a user authenticates with an app using his/her Gmail or Facebook account, and the app can read info of these accounts from the log. Read more of this post

Incorporating Offshore


wealthymattersAn offshore company is a corporation or other type of legal entity which is incorporated or registered in an offshore financial centre or “tax haven”‘.

The extent to which a jurisdiction is regarded as offshore is  a question of perception and degree.Classic tax haven countries such as Bermuda, British Virgin Islands and the Cayman Islands are quintessentially offshore jurisdictions, and companies incorporated in those jurisdictions are invariably labelled as offshore companies. Then there are certain small intermediate countries such as Hong Kong and Singapore ,sometimes referred to as “mid-shore” jurisdictions, which, while having oversized financial centres, are not zero tax regimes. Finally, there are industrialised economies which can be used as part of tax mitigation structures, including countries like Ireland, the Netherlands and even the United Kingdom, particularly for corporate inversion.Also, in federal systems, states which operate like a classic offshore centre can result in corporations formed there being labelled as offshore, even if they form part of the largest economy in the world ,for example, Delaware in the United States.

Similarly, the term “company” is used loosely, and at its widest can be taken to refer to any type of artificial entity, including not just corporations and companies, but potentially also LLCs, LPs, LLPs, and sometimes partnerships or even offshore trusts. Read more of this post

Anti-Paparazzi Shield


wealthymattersRoman Abramovich’s $1.2B super yacht, Eclipse, is equipped with an anti-paparazzi shield in the form of infrared light lasers that sweep the surroundings.  When they detect a CCD, they shine a light right at the digital camera to prevent the photograph.

A similar technology,an anti-paparazzi clutch, developed by Adam Harvey , detects the flash of a camera and responds with a bright flash of its own, cloaking the intended target in a blob of white light.  Read more of this post

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