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Irda has brought out request for proposal for setting up an insurance fraud repository to reduce monitoring costs
Plan assures guaranteed benefit amount depending on surgical treatment graded based on costs and covers almost 600 surgeries
Apart from products such as pure term, insurers are moving to newer types of web policies
Those who were young, had high income, were highly educated and internet-savvy displayed higher confidence on family protection levels
Interview with Managing Director and CEO, ICICI Prudential Life Insurance
Aditya Puri, MD, HDFC Bank said that sustainability is a core value at the Bank
Australia gains ground again; Canada and New Zealand plan to expand their reach in India
Will have three schools to begin with, School of Engineering & Technology, School of Commerce, and School of Management
Data by Irda showed that the life insurance sector saw a 6.3% drop in new business premiums for the FY13
Offer fully subscribed; yields soften
To reduce time taken for product approvals, Irda has asked life insurers to submit a 'product planner' before the beginning of every financial year
About 110,000 policies are digitised but many customers are not aware of this process
The report notes that women prefer non-sales roles, but most jobs in the BFSI sector involve some kind of sales
Rs 25 lakh fine imposed due to service agreements entered with various entities engaged for providing services of lead generation and dissemination of information
Already 1,10,000 policies have been digitised, but many customers are not aware of this process
Few fund houses which were running short-duration due to which with rising yields they have already started building durations
Company has covered approximately 2.4 million lives and has Rs 6,500 cr of AUM at end of FY 2013-14
Trust deficit may force industry to take cautious approach