Page 13 - Insurance Sector

Wealth management, entertainment, health spends grow in FY24: Razorpay

Spending on dieticians has more than doubled during the same time, while health coaching recorded a 45 per cent increase in transactions

Fada commences dealer satisfaction study with finance, insurance firms

Automotive dealers' body FADA on Monday said it has commenced a dealer satisfaction study with a focus on finance and insurance firms. The Federation of Automobile Dealers Associations (FADA) will undertake the study at dealerships in association with Singapore-based PremonAsia. The study will look at key factors and attributes impacting the business relationship of dealerships with finance and insurance organisations, FADA said in a statement. It is expected that the results of the study will help finance and insurance companies to design newer products, services and processes to help dealers and end-consumers, it added. "The study will focus on key aspects of the relationship between dealers and finance and insurance companies and therefore, provide a platform to understand the nuances of this relationship," FADA President Manish Raj Singhania said.

Govt unlikely to privatise GIC Re at this stage: CMD Ramaswamy Narayanan

Narayanan says the company's business from Gift City will substantially increase in the coming days

Target Rs 6K cr gross written premium for FY25: Future Generali MD & CEO

Rau discusses plans to focus on the underpenetrated non-motor, non-health space to support growth

Insurance surrender value; voice as career: Top personal finance stories

This week learn about the implications for insurance policyholders as surrender values are revised; in a separate story we write about training your voice

ICICI Lombard ties up with Policybazaar to offer insurance products

The partnership will significantly augment insurance distribution, ensuring that comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform

Increased reinsurance capacity keeps April reinsurance renewals flat

Globally, the reinsurance contracts between primary insurers and reinsurers are renewed in January

Fishers Coop allege income loss amid inability to operate insurance scheme

In India much of the fisheries sector is dominated by cooperatives who number around 28,000

Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations

Bima Sugam likely to reduce dependence on intermediaries for insurers

According to IRDAI's annual report for FY23, the online sales channel of life insurers contributed to 0.84 per cent of the individual new business premium (NBP)

Will end FY24 with growth rate of over 30%: CEO Shriram Life Insurance

In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that Casparus JH Kromhout, managing director and chief executive officer said

96.55% claims under PM Suraksha Bima Yojana settled, says official

PM Suraksha Bima Yojana is a scheme offering insurance coverage on account of death or disability due to an accident

IRDAI approves Bima Sugam, 7 other regulations in 125th board meet

The board of the insurance regulator approved the 'Bima Sugam' platform where the policyholders can compare premiums and purchase a wide array of insurance products

General insurance premium up 13% till February in FY24, shows data

However, due to higher base, the growth in health insurance policies have moderated in the period under review to 20 per cent from nearly 24 per cent in the corresponding year ago period

Zopper eyes expansion into EMs, targets 50-60% growth in India in 3 years

Zopper plans to expand its distribution ecosystem and strengthen partnerships with banks, non-banking financial companies (NBFCs), travel portals, brands, and retail chains

Non-life insurers post 13% rise in premium in Feb but with dip in revenue

Market share of private insurers increases to 53.79 per cent YoY

LIC, private insurers lift new biz premium of life insurers by 48%

Among large private players, the premium of the largest private life insurer, SBI Life, grew around 32 per cent to Rs 2,648.86 crore

Acko appoints Animesh Das as CEO, elevates Sanjeev Srinivasan to board role

Das was chief underwriting officer in the company

Bajaj Allianz General launches GenAI-powered bot 'Insurance Samjho'

It aims to address the dissatisfaction of policyholders during claim settlement arising due to lack of understanding, intricate details and fine print of the insurance policy

Unclaimed insurance funds higher in agent-sold policies: Analysts

LIC accounted for more than 90% of total unclaimed funds in the last five years