Page 8 - Insurers

Insurers start offering standard Covid product as mandated by Irdai

As of now, the insurers have to offer the indeminity-based standard Covid cover (Corona Kavach), but later they may also offer the benefit-based product (Corona Rakshak), insurers said

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

Standard covid product to be benefit-based cover under revised IRDAI rules

The minimum sum assured for the product will be Rs 50,000 and it can go upto a maximum of Rs 5 lakh

After brushing off coronavirus concerns, insurers face double whammy

Because epidemics are excluded from many business insurance policies, the early prognosis was for a low levels of claims

Markets volatility will weigh on global insurers' profits: Moody's

An economic slowdown triggered by the outbreak will crimp business volumes for insurers and also lead to higher claims for certain types of insurance

Rewiring insurance with tech to speed up underwriting and claims process

Most of the insurance providers have mobile apps, meant to provide customers easier access to the insurer

Insurers stay on sidelines as Mutual Funds step up purchase of shares

Insurers bought shares worth Rs 42,000 cr in 2019, while MFs spent Rs 53,000 cr

Centre initiates process to appoint two full-time members on Irdai board

Both the appointments shall be made by the central govt on the recommendations of the Financial Sector Regulatory Appointment Search Committee.

Insurers reward customers for good behaviour, offer differential pricing

Insurers are offering differential pricing, based on buying behaviour only at Policybazaar.com

Mandatory listing of insurance firms on hold

Several companies have approached the finance ministry to discourage Irdai from making the plan operational

Insurers' new customer watch tool

They are increasingly usingg data analytics to identify client profiles & behaviour, to cross-sell and identify more products to offer

Insurers strive to meet e-policy deadline

Firms, repositories have to give e-document to customers by October 1; transition will be smooth, they claim