Insurance News

Industry leaders emphasise the need for dynamic, data-focused models and protection for new infrastructure, like EV charging stations

Leaders called Bima Sugam a tool for transparency, affordability and inclusion

Insurance leaders view the GST waiver as an inflexion point, detailing plans to boost customer value and make products the engine for growth

Making insurance products more affordable shows that the govt views the sector as essential as food, says Irdai chief Ajay Seth

Regulatory shocks and withdrawal of a tax benefit slowed down growth, nudging firms to focus on affordability, efficiency and chasing more customers

Terrorism coverage under term, health, and home policies varies across insurers and products, may require rider, and could come with loadings for high-risk occupations and regions

Finance Minister Nirmala Sitharaman in this year's Budget speech, proposed to raise the foreign investment limit to 100 per cent from the existing 74 per cent in the insurance sector

Researchers also flagged unaffordable premiums, inaccessible digital platforms, and a widespread lack of awareness about available schemes as major barriers to coverage

IRDAI member Swaminathan Iyer stresses the need to track ₹1.9 trillion in unclaimed life insurance funds to build trust and boost penetration, vital for achieving 'insurance for all by 2047'

Deepak Sood says zero GST on life and health insurance has sparked strong growth, with demand set to accelerate in H2FY26 as the industry pushes for deeper penetration and better distribution

Ajay Seth says claim payouts often fall short of expectations; stresses prompt, transparent settlement to build trust and achieve 'Insurance for All' by 2047

Exemption in GST nudged individual premium growth, policy sales

According to data released by the General Insurance Council, standalone health insurers (SAHI) reported 38.3 per cent Y-o-Y growth in premiums for October, reaching ₹3,738.34 crore

Irdai Chairman Ajay Seth said the regulatory process must integrate policyholders' expectations and strengthen coordination among regulators to address overlaps and systemic financial risks

The GST exemption on insurance and festive demand have driven strong growth in health, motor segments, with ICICI Lombard, SBI General, Star Health reporting sharp upticks in sales, premium collection

The Ministry of Finance has opened applications for two senior Irdai positions - Whole Time Members (Actuary and Distribution) - as the current incumbents' terms conclude in January and February 2026

The capital received will be utilised to expand Kshema's offerings to reach a wider number of uninsured farmers and their crops, strengthening its underwriting capacity.

Insurers say the GST exemption will make policies cheaper and spur demand, but awareness, innovation, and efficiency are key to improving India's insurance penetration

Regulators set the agenda as insurance, pensions, digital currency, cyber risk, and crypto policy took centre stage on the penultimate day of the leading summit

At the BFSI Insight Summit 2025, insurance leaders urged joint action on climate, cyber, and EV risks - calling for innovation, tech collaboration, and universal insurance coverage