Page 4 - Insurance Policy

Policybazaar IPO in 12-15 mos; parent firm gets boost from Bay Capital

Leading online insurance policy aggregator Policybazaar.com has got a capital boost from investment management firm Bay Capital, ahead of its initial public offering (IPO) in the next 12-15 months. Bay Capital, which manages money on behalf of institutions and endowments from the US and the Europe, has infused an undisclosed sum into the parent company PB Fintech of Policybazaar.com. "Bay Capital has completed a secondary transaction, ahead of the insurance aggregator's plans to launch an IPO in the next 12-15 months," Bay Capital said on Wednesday. However, how much capital has been infused by Bay Capital could not be ascertained. PB Fintech had attained the status of a unicorn in 2018 when it raised USD 200 million in a Series-F round led by Japan's Softbank. Siddharth Mehta, founder and CIO of Bay Capital, said PB Fintech has transformed the way insurance is bought in India. "Customer centricity has been the heart of their proposition and has helped them become the platform of

Term plan ownership is rising, but savings rule amid Covid-19 pandemic

Buying term plan under the Married Women's Property Act can ring-fence the compensation from creditors

Tax benefit on health insurance policy varies based on family size

Amount of insurance purchased should, however, depend on your requirement, and not just the tax benefit

Irdai set to introduce standard products for fire, allied peril risks

General insurers that offer fire and allied perils policies have to mandatorily introduce the same from April 1, 2021, replacing the Standard Fire and Special Perils (SFSP) policy

Paradigm shift in GenNext insurance

Millennials look for instant gratification from the products and services they opt for. Hence, traditional long-term products don't appeal to them much

Covid-19: Switch to comprehensive insurance policy for broader coverage

Waiting period gains of Covid policy stay intact

Irdai allows renewal, migration and portability of Covid-specific products

Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract

Pandemic Pool: Is this the best the insurance sector could come up with?

In case of a calamity, the govt may need to step in to help those at the lower rung of the economic ladder and it may not need the insurance sector as a middleman in those circumstances

Insurance firms see surrenders decline in Q1, brace for trend to change

Companies look to hedge against policy surrenders by providing short-term loans as succour in pandemic

What you need to know about Arogya Sanjeevani health insurance policy

Launched by Irdai, the plan's main objective is to make insurance more accessible, affordable and less confusing for policy buyers

It's time for a retrenchment cover

All companies should be encouraged to have an insurance policy that improves the quality of conversation between the management and the employee during layoffs

Covid-19 brings insurance policies for directors back into mainstream

Enlightened buyers, particularly those with complex global exposures to litigious markets, are waking up and demanding sophisticated covers for their specific needs.

How to claim income tax deduction for investments made in April - July 2020

One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21

Buy add-on covers to protect against damage due to natural calamities

Since consequential damage is not covered under the base policy, this will be an additional safety net to protect you

Tips to protecting your home and hearth against natural calamities

When buying a home insurance cover, opt for reinstatement value as the sum insured

Out-of-pocket expenses set to fall for policyholders after new Irdai rules

Now insures have to define the associate medical expenses which will be deducted proportionately if a person opts for a higher room category than the category that is eligible

Insurance grace period may give rise to disputes

All policies expiring during the lockdown should be deemed extended for this period and one week thereafter

Covid-19 impact: Life Insurer's new business premium declines 32% in March

For the month of March, the new business premiums of life insurance companies stood at Rs 25,409 crore compared to Rs 37,459 core in March 2019.

Premium perks: Wearables, apps are set to transform health insurance

IRDAI has so far received 173 proposals, most of which incentivise wellness in the health insurance space through the use of apps and wearable devices

Compensate if insured hasn't been negligent

The National Commission did not accept the contention of the insured that the assessment of damage had been done incorrectly by the surveyor