Page 29 - Insurance

PhonePe sees rising demand for Covid insurance with increasing cases

PhonePe said on Thursday that coronavirus insurance has seen widespread adoption lately with 75 per cent of its policies bought by customers in smaller towns outside the tier-1 cities

PhonePe sees rapid demand for Coronavirus insurance products as cases rise

The claims from customers of more than Rs 3.5 crore have already been paid

Axis Bank entities close deal with Max Life Insurance, become co-promoters

Axis stake at 12.99%, will nominate three directors to Max Life's board

FDI in insurance may shorten break-even period by 3 years: IIM Indore study

Currently, operating and commission expenses of private insurers are said to be thrice those of public counterparts. It is here that a hike in FDI limit will give the former a level-playing field

Insurers see adverse claim ratio on Covid-specific health products

The regulator's two Covid standard products - Corona Kavach and Corona Rakshak - have covered more than 4.7 million lives

Insurance Amendment Bill to raise FDI limit to 74% in Lok Sabha

FM Sitharaman said on Monday that raising the FDI limit was necessary to help insurers deal with issues concerning financial stress

Opposition protests in Rajya Sabha bill to hike FDI in insurance to 74%

The Upper House witnessed four adjournments in the afternoon sitting

Remote working to push demand for cyber insurance: IRDAI official

Insurers are confronting a new reality in the COVID-19 situation as a long- term disruption to the customers, employees, investors and suppliers

Insurance firms told not to alter health products to raise premium

Insurance companies can carry out minor modifications in their products, said Insurance Regulatory and Development Authority of India (IRDAI)

Cabinet approves amendment to Insurance Act, paving way for 74% FDI limit

The increase of the FDI limit will provide insurance companies with committed funds to improve the penetration of insurance in the country, says an industry executive

We should have 1,000-1,200 actuaries at the earliest: Irdai chairman

Currently, India has only 458 full-fledged actuaries. In 2019, there were 439 actuaries and in a year, that number has gone up by just 19

Open to exploring opportunities for strategic collaboration: HDFC Life CEO

Vibha Padalkar says the insurer has witnessed a 65% reduction in customer complaints over the last 5 years

Irdai asks insurers to bring standard accident cover from Apr

The insurance regulator has asked general and health insurance providers to provide standard personal accident cover products

Bajaj Allianz Life launches post-retirement fund guarantee plan

Bajaj Allianz Life Insurance on Wednesday launched an insurance plan offering a guaranteed regular deferred annuity during post-retirement life

ICICI Lombard partners with Flipkart to offer 'Hospicash' benefit

Flipkart has partnered with ICICI Lombard to offer 'Group SafeGuard' insurance, a group insurance policy to its consumers

ICICI Lombard sets up index to track risk exposure in sectors, companies

Indian companies have a score of 57, indicating optimised risk handling methods, says the index

Irdai Working Group bats for introduction of index-linked insurance plans

With investment markets turning volatile, customers are preferring guaranteed products. This, in turn, has increased the balance sheet risk for insurers

Irdai panel suggests introduction of index-linked insurance products

An Irdai panel has made a case for the introduction of index-linked insurance products (ILIP) an apt alternative to the current conventional guaranteed products and ULIPs

IRDAI proposes extension of regulatory sandbox guidelines by 2 years

Insurance regulator IRDAI on Tuesday proposed to extend the validity of regulatory sandbox guidelines by two years as the proposals received under it require more time for completion.

Bajaj Allianz Life AUM grows 79% in 10 years to cross Rs 70,000 cr

The private sector life insurer said its assets under management have crossed the Rs 70,000-crore milestone by the end of December