Page 89 - Insurance News
Paperless insurance to gain traction
LIC is on board after tying up with all five insurance repositories; 1,50,000 e-Insurance Accounts opened across India till date
 "Paperless insurance to gain traction")
Irda asks insurers to display unclaimed amount info of above Rs 1,000
Policyholders would be given an option to check whether any amount is lying due with insurance co
 "Irda asks insurers to display unclaimed amount info of above Rs 1,000")
Accident insurance cover for masses: A tough road ahead
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 1 lakh to all people who open bank accounts under this scheme
 "Accident insurance cover for masses: A tough road ahead")
Irda allows insurers to invest in onshore rupee bonds of ADB, IFC
IFC had sent a representation to Irda to permit insurers to invest in onshore rupee bonds to be issued by it
 "Irda allows insurers to invest in onshore rupee bonds of ADB, IFC")
Max Bupa to reduce exposure in group health portfolio
The insurer has introduced a new edition of its flagship product Heartbeat Health Insurance Plan, offering a comprehensive health insurance plan
 "Max Bupa to reduce exposure in group health portfolio")
State-run non-life insurers' unions seek merger of all 4 cos
These cos are New India Assurance (Mumbai), National Insurance (Kolkata), United India Insurance (Chennai) and Oriental Insurance (New Delhi)
 "State-run non-life insurers' unions seek merger of all 4 cos")
IRS may launch health, motor insurance by December
At present, Insurance Repositoriesonly convert life insurance into e-insurance
 "IRS may launch health, motor insurance by December")
Bajaj Allianz Life Insurance joins hands with PolicyBazaar.com
According to a recent study, online insurance market reportedly stands at Rs 700 cr
 "Bajaj Allianz Life Insurance joins hands with PolicyBazaar.com")
Irda launches long-term insurance for 2-wheelers
Products may become cheaper since prices would not be revised during entire policy term
 "Irda launches long-term insurance for 2-wheelers")
Basel-III bonds see tepid response from insurers
Regulatory officials say they are examining the issue of investing in tier-I capital
 "Basel-III bonds see tepid response from insurers")
Micro-insurance products may be overhauled
Better remuneration to distributors and policies with bigger ticket-size could boost sale
Tata AIG launches three new health products
While MediPlus is a smart and affordable top-up health Policy, MediSenior is a health cover for senior customers and MediRaksha is a basic medical insurance plan
 "Tata AIG launches three new health products")
LIC premium collection share at 73%
Total premium collected by all life insurance cos during 2011-12, 2012-13 and 2013-14 was at Rs 8.88 lakh cr
Apollo Munich launches Optima Vital, Optima Super
Optima Vital offers 100% lump-sum pay out on detection of any of the 37 critical illnesses
Irda launches insurance services through CSCs
To encourage insurance penetration in rural areas IRDA issued guidelines or utilising the CSC network in India in 2013
Insurance employees' union oppose FDI
IEU plans to request important personalities and opinion makers to write to Finance Minister opposing this move
 "Insurance employees' union oppose FDI")
Health insurance products get bigger, better
With added features, prices to go up by 10-20 per cent
Insurance IPOs still 2-3 years away
Many procedural issues remain, apart from prior agreements with Indian partners in JVs
Magma HDI General Insurance turns profitable in seven quarters
Aims for Rs 500 cr premium income in FY15
Max Bupa launches new edition of Heartbeat product
The plan has new features like international cashless treatment for nine major critical illnesses, worldwide emergency medical evacuation