Page 12 - Insurance Companies

Legacy insurers can't go digital overnight, says Oracle's Prasad Rai

Insurers will also need to introspect and bring about changes internally, according to PRASAD RAI, vice-president, Global Strategic Clients Group at Oracle, who spoke to Raghu Mohan

Insurers face 'mind-blowingly' large loss if Tokyo Olympics cancelled

With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee's (IOC) executive board meets this week

Irdai introduces 'Saral Pension', a standard individual annuity product

It is an immediate-anuuity product comes that all life insurers must start offering by April 1

Auto dealers can work as sales channel for motor insurance: Irdai panel

They may work as insurance intermediaries in much the same way as an insurance broker, but must solicit motor insurance business only

Firms rush for vaccine liability cover as India kicks off vaccination drive

Insurers, too, have sought support for such coverage from India's largest reinsurer GIC Re. ICICI Lombard & New India Assurance have got support of $5 mn against risks

LIC drags new premium biz down 3% in Dec, private life insurers fare well

The new business premium of life insurance industry contracted by 3 per cent year-on-year to Rs 24,383.42 crore in December

Complete probe in corruption cases by May 2021: CVC to govt depts, PSUs

CVC has asked all central government departments, public sector banks, insurance companies and undertakings to complete the probe in pending corruption cases

Standard Life cuts 1.38% stake in HDFC Life, raises Rs 1,720 crore

Following the share sale, Standard Life's stake in HDFC Life declined to 8.89% Following the share sale, Standard Life's stake in HDFC Life declined to 8.89%

Axis Bank, subsidiaries to acquire 19% stake in Max Life in revised deal

RBI did not consider Axis's earlier proposal of acquiring 17% stake in Max Life

If error is inadvertent, claim must be paid

Insurance firms cannot deny claims if there is any inadvertent error on the part of the insured

Need to expand health insurance to include outpatient care: Irdai chairman

In light of the Coronavirus (Covid-19) pandemic, health insurance has seen a surge in demand from consumers

InsuranceDekho to get $20 mn funding from GirnarSoft for branding, others

InsuranceDekho recently announced plans to onboard 100,000 insurance advisors across the country. It has already enrolled 20,000 advisors successfully, the company said

Life insurers find their mojo but experts sound cautionary note

Product launches will be critical for companies to sustain the momentum this financial year, especially in the term-protection segment

Aditya Birla Sun Life open to consolidation due to Covid-19 disruptions: MD

Kamlesh Rao said that in times of socio-economic crisis like this Covid-19, 30-35% companies find it difficult to survive, while 15-20% firms outshine their peers in respective industries

Personal healthcare and medical insurance ad volumes up amidst pandemic

Brands feel it is a good time to advertise anything and everything connected to well-being

As cases rise sharply, Corona Kavach policy a big hit amongst consumers

The high demand for the policy has brought cheer for insurance companies

ICICI Bank raises Rs 15,000 cr in equity; issue price at Rs 358 per share

The issue price represents a 1.9 per cent premium to the floor price determined based on the pricing formula as prescribed under SEBI Regulations

Nearly 70k Covid-related claims worth Rs 700 cr settled by insurers: Irdai

Regulator asks insurers to look at more standard products to increase the coverage

GI Council may move SC to implead itself on standard rates in Covid therapy

Wants govt to prescribe treatment protocol and then fix the rates

Insurance companies turn net buyers of equities after eight years

Sustained buying by them adds heft to market rally