Page 15 - Insurance News

Insurance in India has made significant strides: General insurance CEOs

The panel discuss the 'many challenges' they face in general insurance sector and gave their views on the road ahead for the industry

Regulator nudging us to up our game on cybersecurity: Life insurance CEOs

The leaders of life insurance companies discussed increasing coverage of insurance in India

Bima Sugam is a game-changer, says Irdai chairman Debasish Panda

Bima Sugam facilitates easy access to insurance for consumers and enhances distribution opportunities, said Panda

Revised surrender value norms widen scope for life insurers, help customers

Insurers and experts are optimistic about revival in sales and premium growth, and they believe that it could also give a nudge to the insurtech sector in the country

100% FDI in insurance may attract global firms, boost competition: Experts

Six new players have entered the industry in the last few years, marking the first additions in the life insurance in over a decade and the first in the general and health insurance segments in nearly

HDFC Life launches probe after customer data shared with 'mala fide' intent

The company, in a statement, did not elaborate if it knew or was told how the source had obtained the data. It also did not specify what data was shared, nor the extent of the data

Demand for super top-up health insurance plans rises after Covid pandemic

A super top-up health insurance plan pays the policyholder for medical expenses that exceed the coverage limit of their base health insurance policy

Central Bank of India gets RBI nod for insurance JV with Generali group

In a filing to stock exchanges, the state-owned bank said the RBI accorded the approval vide a letter dated November 21, 2024

Indian insurtech funding drops 40% in 2023, revenue shows multifold growth

India now has over 150 insurtechs generating revenue exceeding $750 million, with 10 unicorns or soonicorns and more than 45 minicorns

New surrender value norms: Life insurers turn to policies with high value

Despite the fall in number of policies, the new business premiums of life insurers grew in double digits

'Insurance coverage expansion to underserved segments can save govt $10 bn'

The gross written premium of Indian insurance has exceeded $130 billion and grown at a CAGR of 11 percent, in the three-year period FY20-23, outpacing its Asian counterparts

Non-life insurers post 27.5% premium growth in October, shows data

Data indicates that general insurers collected Rs 25,396.68 crore in premiums in October, reflecting a 23 per cent Y-o-Y increase

GST Council may waive 18% tax on senior citizens' insurance plans in Dec

The GST Council is scheduled to meet in Rajasthan on December 21 and 22 to discuss potential tax relief on select insurance plans

CRED partners with ACKO to offer enhanced motor insurance for members

CRED members with credit scores above 750 will receive motor insurance at reduced premiums

Simplify T&Cs in insurance policies to cut complaints: Irdai panel member

Irdai's Insurance Ombudsman Advisory Committee member Pushpa Girimaji also stressed on the need to reduce the number of 'non-entertainable complaints' by the insurance ombudsman

New biz premium of life insurers rises 13% in October, shows data

According to a Nuvama report, growth dipped in October 2024 due to the 'increased surrender value' regulation kicking in, but still held steady

BS BFSI Summit: General insurance companies see signs of growth revival

Top CEOs see green shoots of growth driven by a slew of new initiatives taken by regulator Irdai and the govt

BS BFSI Summit: 'Changes to surrender value norms in interest of customers'

Apart from commission structures, the insurance companies can also try other levers to absorb the impact

BS BFSI Summit: Industry leaders discuss insurance changes for 2047 vision

At the Business Standard BFSI Summit, experts discussed key changes needed in the insurance amendment bill, and what measures can be taken to achieve the vision of 'coverage for all' by 2047

General insurance penetration rising in India, say leaders at BFSI Summit

Heads of general insurance companies discuss challenges and future potential for the insurance sector in conversation with banking editor Manojit Saha at the Business Standard BFSI Insight Summit