Page 72 - Insurance News

Insurance firms offer HNIs exclusive products

High net-worth individuals are no longer required to buy regular insurance from companies

CCI imposes Rs 671-cr penalty on four public sector general insurers

They were found manipulating the bidding process initiated by Govt of Kerala for selecting an insurance service provider for Rashtriya Swasthya Bima Yojna

Managing change in insurance is top risk for companies: CSFI-PwC survey

Regulation came at the bottom of the risk ranking study

Irdai explores e-commerce in insurance

Less than 5% of overall insurance industry premiums come from the online channel

Life insurers rope in credit info firms to verify customers' details

The details include identity and address details of customers, and going forward

Life insurers train agents for social media use

Sector could also use information from social media, said insurers, to assess customer habits

E-insurance to see big numbers as LIC joins in

The initiative is expected to save more than Rs 100 crore for the industry

FII holding in Indian insurance promoter not part of total FDI

Foreign equity investment cap of 49% is applicable to all Indian insurance companies as per earlier definitions by FIPB in their rules in Feb 2015

Now, life insurers train agents to click to social media

Social media networks including Facebook and Twitter being used extensively by insurance cos, life and non-life to promote their brand and values they represent

Life insurers to see 12-15% growth on annual premium equivalent basis in FY16: ICRA

APE is calculated as annualised regular premiums plus 10% of single premiums

LIC targets 3 cr new policy sales this year, Q1 premia up 31%

To sell policies worth around Rs 31,000 cr this fiscal year

Irdai group to explore opportunities in insurance e-commerce

The two groups will look into identifying opportunities of e-commerce in insurance sector

HDFC Life eyes 15% growth in new business premium

Company banks on two recently launched products; collects Rs 3,310 cr new business premium in 2014-15 with 10% growth

SBI, PNB lead Jan Suraksha enrolments to 104 mn

Banks including PNB had tied-up with LIC in life and public general insurers for accident cover

Insurance fraud: Rising problem in non-life segment

Firms now employing specalists in probe teams, creating 'red flags' in motor & health insurance, tracking social media for activity of suspicious claimants

Life insurers to have representative body without Irdai members

The council will have four members including one permanent member from LIC

General insurers crack the whip on claim fraudsters

Create red flags for motor, health insurance to nab culprits, track social media to observe activity of suspicious claimants

Irdai plans to standardise health products

The health insurance industry has generated Rs 20,442 crore in premium business in fiscal 2015

Real effects of Insurance Act still to come, say life insurers

Companies say regulations by IRDAI would shape future fate

Agri-insurance coverage needs to expand, says FSR report

The report says only 4% of farmers reported having crop insurance and only 19% of the farmers ever used any crop insurance