Page 16 - Insurance News

BFSI Summit: 'New surrender rules painful but will drive insurance demand'

Insurance industry leaders at the Business Standard BFSI Summit spoke about how revised surrender value rules will improve customer confidence and demand, and shared the challenges that come with it

BFSI Summit: Home loans remain top financing choice for urban Indians

As per a Knight Frank-Business Standard report, 52 per cent of surveyed urban Indian homebuyers prefer apartments

Ayushman Bharat expansion to benefit elderly; experts raise key concerns

With rising number of patients, healthcare providers call for timely payments

Chola MS General Insurance clocks 60% rise in PBT at Rs 350 cr

The Gross Written Premium for the quarter ending September 30, 2024 stood at Rs 2,191 crore, while for the six month period ending September 30, 2024 grew to Rs 4,136 crore

Tata AIG eyes 30% CAGR growth in retail health portfolio in next 3 years

The company plans to expand its agent network from 92,000 to 1,50,000 over the next two years and invest in 1,000 employees to strengthen its health distribution network

Insurance industry can partner with telcos, fintechs to expand reach: LIC

"As we are serious about 'insurance for all', we must rethink how we distribute and market insurance products," Mohanty said, speaking at an event organised by CII here

Irdai engaging with select insurance firms for public listing: Chairman

Irdai chairman has urged large conglomerates and business houses to invest in India's insurance sector

Irdai asks insurers to check vulnerabilities in IT systems, take measures

Recently, there was a data breach at Star Health & Allied Insurance's servers and reportedly sensitive data of 31 million customers were put up for sale

Cyber insurance is crucial for modern business but coverage has limits

It provides financial protection and access to critical resources, such as expert legal counsel and incident response teams

Pvt life insurers mull new model for commission for distributor channels

Clawback, deferral, or reduction in payouts on the cards for distributors

Payments major PhonePe launches firecracker insurance policy for Diwali

The plan can be purchased on the PhonePe app and provides coverage to families by insuring up to four family members, including the user, their spouse, and up to two children

Upper limit for LIC's new endowment plan reduced to 50 years from 55 years

The revision is effective October 1, 2024, 'LIC New Endowment Plan-914' is a participating endowment plan that offers the dual benefit of protection-cum-savings plan

Life insurance firms report 14% growth in new biz premiums in September

In H1, new business premiums of life companies was up 19% YoY

Non-life premiums fall 6.5% in September as crop, auto segments drag

In H1, premiums of non-life insurers were up 7% Y-o-Y

LIC reduces 1st-year agent payout to 28% after surrender value revision

First insurer to change commission after revision in surrender value norms

Result preview: High Ulip share may weigh on life insurers' Q2 margins

Industry players had previously indicated that their margins will take a hit because of the revised norms

Surrender value norms: Life insurers begin rolling out revised bestsellers

Most major life insurance companies have products in excess of 30. It was becoming difficult for the companies to revise all their products, in accordance with regulations by the deadline

Insurance premium may rise as revised surrender value kicks in from Tue

A surrender value in insurance refers to the amount paid by the insurers to the policyholder upon terminating the policy before its maturity date

Bandhan Life partners with Bandhan bank to boost insurance business

Bandhan Life stated it has plans to rope in more banks on board in the near future to strengthen its bancassurance distribution channel

Life insurance firms to discuss norms on surrender value on Sept 27 meeting

The life insurance companies, through the council, had sought a three-month extension from Irdai on implementing the new norms