Page 41 - Insurance News
Insurance firms tap blockchain for ease of transaction
13 companies to create pool of policyholder data; to lower cost for insurers
 "Insurance firms tap blockchain for ease of transaction")
Individual agents, marketing firms to soon be part of Irdai database
Measure to help curb cases of data duplication
 "Individual agents, marketing firms to soon be part of Irdai database")
Insurers close doors on GM cars, thousands of Chevrolet owners to be hit
Move follows carmaker's decision to exit India
 "Insurers close doors on GM cars, thousands of Chevrolet owners to be hit")
Saurabh Agrawal to succeed Ishaat Hussain in Tata insurance JVs
There is also a possibility of divesting some companies that are not on the group's priority list
 "Saurabh Agrawal to succeed Ishaat Hussain in Tata insurance JVs")
HDFC Life files draft paper with Sebi for IPO
Embedded value pegged at Rs 13,220 crore in June
 "HDFC Life files draft paper with Sebi for IPO")
SBI General Insurance plans product for protection from malware attacks
The insurance product in the pipeline would be customised separately for individuals, institutions
 "SBI General Insurance plans product for protection from malware attacks")
Life insurers' new business premium surges 47% to Rs 20,428 cr in July
The country's life insurance firms earned Rs 13,854 cr as premium from new biz in the same month
 "Life insurers' new business premium surges 47% to Rs 20,428 cr in July")
GIC Re to broad-base premium streams
Currently, 95 per cent of the GIC's premium income comes from the non-life insurance segment
 "GIC Re to broad-base premium streams")
Premiums may go down for good drivers, low car usage
A device can be installed for insurer to get real-time data tracking driving behaviour
 "Premiums may go down for good drivers, low car usage")
Irdai to work with govt to create simple platform for KYC
Chairman said though Aadhaar is not mandatory, it was the simplest form of KYC document
 "Irdai to work with govt to create simple platform for KYC")
Irdai directs LIC to reduce stakes in L&T, ITC to 15% by Dec 2018
The general insurance business grew 31% last year and life insurance 25%
 "Irdai directs LIC to reduce stakes in L&T, ITC to 15% by Dec 2018")
Indian insurance firms lagging behind in digital investment: Report
Country lags in both level of digitisation, ability to realise financial returns compared to world
 "Indian insurance firms lagging behind in digital investment: Report")
GIC Re files for IPO, may raise over $1 bn
Will issue 124.7 mn shares comprising 14.22% of capital
 "GIC Re files for IPO, may raise over $1 bn")
Life insurers new business to grow 15-18%: Icra
General insurance industry expected to grow at 20% in FY18
Now, SBI Life Insurance targets cancer treatment
Minimum sum assured was Rs 10,000 and Rs 50,000
No merger: Max India pulls out of Max Life-HDFC Life deal
Move follows Max group, HDFC Life calling off merger plans; decks cleared for HDFC Life's IPO plans
 "No merger: Max India pulls out of Max Life-HDFC Life deal")
LIC to invest in GIC IPO but will stay away from SBI Life IPO
NPAs of the public insurer was to the tune of Rs 18,000 cr
 "LIC to invest in GIC IPO but will stay away from SBI Life IPO")
FinMin official Ravi Mittal appointed part-time member on Irdai board
Former finance secretary Sushma Nath is another part-time member on the Irdai board
EPS to be revamped, medical scheme for pensioners to be formulated: Govt
We will revamp the scheme. Whatever gaps are there, will be plugged, says Dattatreya
 "EPS to be revamped, medical scheme for pensioners to be formulated: Govt")
Merger off table, focus is on HDFC Life IPO: Parekh
Under section 35 of Insurance Act an insurance cos can only be merged with another insurer: Parekh
 "Merger off table, focus is on HDFC Life IPO: Parekh")