Page 14 - Insurance

Shriram General to increase non-motor insurance biz this fiscal: Official

Shriram General Insurance has planned to diversify its product portfolio by focusing more on the non-motor segments like marine, fire, during the current financial year, a top official said. Motor insurance has been the core of the business for the Jaipur-based firm accounting to about 92 per cent, company Chief Underwriting Officer Shashi Kant Dahuja said. As part of the diversification plan, the company would launch new insurance products under the fire, marine, engineering segments, he said. "The idea is to double our non-motor business to around 15 per cent in two to three years from the current 7-8 per cent," Dahuja told PTI in an interaction. The non-motor business was growing at 70 per cent, he said. To strengthen its presence in the non-motor business, he said the company would launch products in cyber insurance, pay as you drive, theft and pet insurance, soon. "As a business strategy we don't want to be excessively dependent on one vertical and we also want to diversify

True North to sell 20% stake worth $325 million in Niva Bupa Insurance

Niva Bupa, a joint venture between British United Provident Association (Bupa) and India's True North, offers health insurance through more than 20 bank partners

Centre introduces 50-year bond to meet life insurance companies' demand

Increases issuances in longer tenure in second half

Strategies for saving more, buying insurance: Top personal finance stories

Our pick of best stories this week explains how get more from your salary and what your life insurance plan should do

Rajasthan tops the list in solar water pump installations: Official

More than 62,000 farmers have directly benefited from the scheme introduced by the Ashok Gehlot government four-and-a-half years ago

1.98 mn new workers enrolled under health insurance scheme ESI in July

Employees' State Insurance Corporation added 19.88 lakh new workers under its health insurance scheme ESI in July 2023. The provisional payroll data of ESIC shows that 19.88 lakh new employees were added in the month, a labour ministry statement said. Around 27,870 new establishments were registered and brought under the social security umbrella of ESIC in the month under review, thus ensuring more coverage, it said. The data shows that more jobs were generated for the youth as out of the total 19.88 lakh employees added during the month, 9.54 lakh were up to the age of 25 years, constituting the majority of new registrations. Gender-wise analysis of the payroll data indicates that net enrolment of female members was 3.82 lakh in July 2023. The data shows that total 52 transgender employees were registered under ESI (Employees State Insurance) scheme in July 2023. The payroll data is provisional since data generation is a continuous exercise.

Space technology startups want Centre to share insurance liability

Isro's risk liability on launches have been taken up by the government through a sovereign guarantee

Many Indians' intent to buy insurance doesn't lead to action: Report

Consumers spend 11% of their annual income on life insurance and 8% on health insurance, it says

IRDAI Chairman bats for more players in segment to cater India's population

As an effort to set up a conducive environment for new participants and to boost innovation in the segment, the regulatory body is said to have taken several steps

Indian insurers tweak trading strategy as bond-swap spread widens

FRAs are agreements that insurers enter into with banks to lock in rates on long-dated bonds, helping them offer guaranteed returns to policyholders

Reliance in talks with head hunters to find CEO for Jio's Insurance biz

Executives from Reliance have met several firms in recent weeks to help them map top talent across life, health and general insurance segments

Limited tailored health insurance policy options for cancer survivors

Regular plans, if offered, may permanently exclude cancer from coverage

Housing.com ties up with BOXX to provide insurance plan from cyber fraud

Real estate portal Housing.com on Monday said it has tied up with global insurtech player BOXX to offer cyber security plan for protecting its customers from digital fraud. This collaboration aims to provide digital security for Indian homebuyers by introducing the comprehensive 'Cyber Protect' plan. "With support from BOXX and Bajaj Allianz General Insurance, the plan empowers customers to safeguard their digital lives and secure them against digital fraud -- all for an affordable monthly premium of just Rs 199," Housing.com said in a statement. This added safeguard protects financial transactions and contributes to an overall secure online environment. Established in 2012 and later acquired by REA India in 2017, Housing.com is a prop-tech platform for homeowners, home seekers, landlords, developers, and real estate brokers. New homes, resale homes, rentals, plots, commercial spaces, and co-living spaces are listed on its platform.

Indians slowly gaining footing in planning for retirement: Survey

Indians are slowly making progress in retirement planning, even though the country is under-protected in terms of retirement corpus, according to a survey by Max Life Insurance. The India Retirement Index Study (IRIS), conducted in partnership with data analytics company KANTAR, showed a significant upward movement to 47 from 44. The online survey was conducted among 2,093 respondents across 28 cities in India. The index mapped respondents' views on health, finance and emotion. Max Life Managing Director & CEO Prashant Tripathy said people have started giving importance to health and are resorting to health insurance and periodic check-ups, but very few are focusing on physical activity or wellness. As per the survey, 44 per cent of the respondents have a health insurance and 58 per cent have undergone health check-ups in last three years. "People in India has been putting far greater weight to health. Zone-wise, eastern region and Tier 2 cities are making good progress in terms .

How to Determine the Correct Health Insurance Policy for Myself?

Discover the right health insurance policy for you. Learn key factors & tips to choose coverage that suits your needs. Your health, your plan.

Rainy Day Savings: 4 Car Insurance Add-On Covers That Can Rescue Your Wallet from Monsoon Mayhem. Should You Buy?

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Safeguard yourself against massive vet bills with pet insurance policy

Understand waiting periods for pre-existing diseases and the co-pay requirement before buying this policy

ESIC added 2.02 million members, 24,298 new establishments in June

The Employees' State Insurance Corporation (ESIC) added 20.27 lakh new members under the Employees State Insurance Scheme in June. Around 24,298 new establishments were registered and brought under the social security umbrella of the ESIC in June. The provisional payroll data from ESIC reveals that 20.27 lakh new employees were added in June 2023, a labour ministry statement said on Thursday. As per the data, more jobs were generated for the youth. Out of the total 20.27 lakh employees added in June, 9.77 lakh employees were up to the age group of 25 years, which translates to 48.22 per cent of the total number. Gender-wise analysis of payroll data showed that net enrolment of female members stood at 3.87 lakh in June. A total 71 transgender employees were registered under the ESI Scheme during the same period.

UK headline inflation rate easing but sugar, rent, insurance surging

fficial statistics showed the Consumer Prices Index slid to 6.8% last month from a four decade peak of 11.1% late last year

We are focussing on growing premium from non-par products: LIC chairman

We are expecting good growth in the festive season, says Siddhartha Mohanty, Chairman, LIC