Page 6 - Insurance

Irdai unlikely to act against bancassurance despite mis-selling fears

Insurance regulator finds bancassurance mis-selling not alarming and rules out coercive curbs while continuing to advise insurers to list for transparency and governance

To be inclusive, insurance will need a mix of tech and human touch

While digital channels drive accessibility and cost efficiency, physical touch points build confidence and cater to the underinsured segments

Bank's group coverage: Affordable, easier to acquire; but check for limits

Group insurance from banks may be affordable and easy to onboard but customers must watch for coverage limits, exclusions, and renewal risks before signing up

Marine insurers monitoring Israel-Iran war, may have to up coverage rates

In case the war escalates, insurers can cancel war risk coverage, and increase marine insurance rates

Women rank term insurance as top choice to secure child's future: Survey

Women prefer term insurance plans with child income security, according to Bajaj Allianz Life

Mphasis joins hands with Sixfold to provide AI solution to insurers

This collaboration follows the trend of adoption of AI technology in the insurance sector

Crash likely to trigger claims up to $150 mn for insurers, reinsurers

About 10 per cent of the claims are likely to come on the books of Indian insurers and reinsurers, according to industry observers

Non-life insurers' premium rises 6.3% in May, led by health players

Non-life insurance premiums rose to ₹22,126.72 crore in May 2025, with robust contributions from standalone health and specialised insurers despite regulatory format changes

New business premium of life insurers in May grows around 13%, shows data

Individual business grew 3.35 per cent Y-o-Y to Rs 10,611 crore, while group business expanded by 18.4 per cent Y-o-Y to Rs 19,851.8 crore

Protean eGov Tech bags order worth ₹100 cr from Bima Sugam Marketplace

Protean will serve as the Technology Solution Provider for Bima Sugam, handling full development, integration, and maintenance of the digital insurance marketplace

Beware if bank staff says insurance purchase mandatory for loan approval

Your guard should also go up if undue pressure is applied to purchase a policy immediately

BimaPay targets Rs 5,000 cr corporate insurance premium financing by FY30

The company will cover all sectors including IT, logistics, healthcare, manufacturing and more, offering products such as group medical, fire and group personal accident insurance

Rajasthan to start registration process for animal insurance scheme

The scheme, announced in the state's 2025 budget, aims to provide financial assistance in case of accidental death of livestock animals

Mis-selling of a different kind: Are PMJJBY, PMSBY statistical illusions?

If awareness remains low, frauds persist and genuine claims continue to be rejected, these initiatives will be successes only on paper, with negligible on-ground impact

Over 80% insured persons unsure about efficacy of health cover: Survey

More than 80 per cent of insured persons polled feel unsure about the efficacy of their health insurance cover due to rising hospitalisation and medical costs in India, says a survey by Future Generali India Insurance. The survey, Health Unlimited, found that when faced with a claim, two out of every three individuals feel insecure and inadequately covered as they encounter unexpected bills. Nine out of ten health insurance policyholders feel that recharge of sum insured is a key benefit, the survey stated. This growing concern highlights the need for comprehensive healthcare solutions, Anup Rau, Managing Director and CEO, Future Generali India Insurance Company Ltd, said. Rising cost of medical treatment is a cause of concern for a vast majority of people in India, despite having a health cover, Rau said. The survey was conducted among 800 insured individuals aged 25-plus. It claimed that India had one of the highest medical inflation rates among other Asian countries in 2021 - .

Home insurance must: Loss of rent for landlord, liability cover for tenant

With modular policies gaining popularity, landlords and tenants must choose covers wisely, know key exclusions, and avoid underinsurance or failure to declare valuables

In nominee vs legal heir who gets the precedence? Court says inheritance

The Allahabad HC has clarified that a nominee on a life insurance policy is not the rightful owner of the payout but a trustee for the legal heirs, challenging common assumptions about insurance claim

Indo-Pak tensions trigger rise in war insurance cover enquiries from firms

Most commercial insurance policies exclude war cover but companies are seeking protection under aviation, marine and political violence categories amid rising tensions

AI hallucination puts firms at risk? New insurance covers legal costs

The insurance product developed by Armilla, a start-up backed by Y Combinator, seeks to address growing concerns about AI's potential to produce unreliable or misleading information

Are we on the cusp of an insurance revolution transforming India?

The stage is set - not just for incremental growth, but for a structural leap that can redefine how insurance is accessed, delivered and experienced across India