MAM
Byju’s onboards Vedhanarayanan Ganeshkumar as VP – technology
Mumbai: In a bid to further strengthen its technology vertical, edtech major Byju’s announced on Monday the onboarding of Vedhanarayanan Ganeshkumar as vice president, technology. The company has been investing in the powerful synergy of technology and innovation by scaling its tech team, it said.
“This new appointment is part of Byju’s concerted strategy to further enhance its world-class learning products, and accelerate innovative and impactful learning experiences for students globally,” said the edtech in a statement.
In his most recent stint over 15 years, Vedhanarayanan held multiple senior engineering leadership roles at Amazon Global Technology organization supporting last-mile delivery, supply chain, and customer shipment tracking experience, among others and also played a key role in the growth of Amazon Global Development Center in India.
In his new role, Vedhanarayanan will be responsible for accelerating critical technologies to further scale Byju’s tech and innovation prowess to define the future of learning. He will also build and lead a talented team of engineers, software development managers, product managers, program managers, and more.
“We are delighted to have Vedhanarayanan on board. His strong expertise in tech innovation will further strengthen Byju’s commitment to creating value in students’ lives and providing them with high-quality learning opportunities,” Byju’s president of technology Anil Goel said. “We look forward to working together and supporting him in achieving his goals.”
With a career spanning over two decades, Vedharnarayanan brings a track record of ideating and delivering impactful technological innovations across companies like Amazon and Oracle.
“Technology is a powerful instrument that has the potential to transform and reinvent how education is delivered. I am excited to join the highly motivated and talented tech team that forms the foundation of Byju’s,” commented Vedhanarayanan Ganeshkumar. “The company is already delivering cutting-edge technologies and is constantly innovating the educational ecosystem. I look forward to playing a key role in the development of next-generation education technology that makes quality education accessible, equitable, and contextual for every student.”
In order to create a solid financial safety net, the initial step should be obtaining satisfactory health coverage, usually through a health insurance policy. However, many individuals fail to see the risk of being involved in an accident that causes injury or death, which may not be something you plan for or expect to happen. personal accident insurance fills this gap. Health Insurance pays for all medical expenses associated with your injury; however, a Personal Accident Insurance policy allows for immediate cash payments when you are injured in an automobile accident or disabled as a result of your accident. Below we will provide you with a clearer understanding of what Personal Accident Insurance covers, how it is beneficial in day-to-day life, and the average annual premium for this type of policy.
What Personal Accident Insurance IS and is NOT
A Personal Accident Insurance policy is similar to other types of policies such as term life, but in addition to paying out an amount based on the insured’s age or date of death, it will also pay out an equivalent periodic benefit based on the type of accident. This type of policy does not replace Health Insurance, but is a supplement to it. You can think of it this way: Health Insurance covers medical expenses after an accident; Personal Accident Insurance provides money to you, the insured, in order to pay for non-medical expenses associated with the accident.
What Does It Actually Cover?
There are four main categories of Personal Accident Insurance Coverage:
- Accidental Death: The insurance policy pays the amount insured in the event that you die from an accident to the insured’s family or beneficiaries. The funds can replace lost wages and help the family pay for sudden expenses.
- Permanent Total Disability: If you are injured in an accident that results in a Permanent Total Disability (that is, losing both eyes or the use of both legs), the insurance policy pays 100% of the amount Insured. Those funds can support the individual with living and long-term care adjustments.
- Permanent Partial Disability: A Permanent Partial Disability results from an accident but leaves you with a serious injury (for example, the loss of one hand or the use of one eye). The insurance pays a set percentage of the amount insured (typically 50-75%). This policy can help replace lost wages and make necessary adjustments in the event of a Partial Permanent Disability.
- Temporary Total Disability: Some insurance policies provide weekly/monthly payments for a specified period to an insured if he/she becomes temporarily disabled and cannot work as a result of their accident. This will provide a bridge of income while one is recovering.
Additional Benefits
Most policy holders will be able to purchase a wide variety of add-ons for their personal accident insurance.
Hospital Cash Allowance: The insured is paid a set dollar amount on either a daily OR weekly basis for every day spent in the hospital.
Ambulance Cover: Covers emergency transport expenses incurred while being transported to/from the hospital.
Fracture or Burn Pay-Outs: Fixed dollar payment for fractures/burns, regardless of existence of other claims.
Education Support: Education grants may be available for children in the event of an accidental death or debilitating injury.
Worldwide Insurance: Protects against accidental injury or death 24/7 and travels with the policy holder anywhere in the world.
How Much Does It Cost?
One of the biggest advantages of personal accident insurance is that it is relatively inexpensive compared to the amount of coverage provided. The following factors influence the pricing structure for personal accident insurance:
Level of Coverage: Premiums are based on the total coverage amount; the higher the sum insured, the higher the rate of premium. As a rule of thumb, it is recommended that you have personal accident insurance with a coverage amount of 5 to 10 times your annual salary.
Nature of Your Employment: If you work in an occupation that is considered hazardous or risky (construction workers, police officers), your premium may be higher than someone in an office-based position.
Add-Ons: There are optional add-ons available (adventure sports coverage), which will increase the premium marginally.
Conclusion
Personal Accident Insurance should not be considered an unimportant product because it is a very affordable option available to consumers. It can help protect you from the financial injury that occurs as a result of an accident for a very small amount of money each year. Although it is something most people would rather not utilize, having a Personal Accident Policy will allow you to better prepare for an accident and provide you and your family the ability to recover rather than worrying about how you are going to pay the bills after an accident. If you currently have health insurance and have not yet purchased a Personal Accident policy, please take the time to read up on the benefits and be sure to purchase the coverage. It can be one of the best investments you make in achieving true financial security.
