The IRDAI is taking control of situations where it feels the Motor Insurance Policies are being sold in an unauthorised manner. There were lots of examples where OEMs or Original Equipment Manufacturers would dictate their dealers to sell specific insurance. With IRDAI getting into the middle of things, this is all set to change. A …
IRDAI Disapproves of Motor Insurance Policies Being Sold By OEMs Read More »
One of the leading private sector banks, Axis Bank is on the lookout for acquiring an insurance arm. The bank received a green signal from its executive committee back in December for the same. Tata AIA and IDBI Federal Life Insurance are among the possibilities. Axis bank has a stake of 4.99% with partner Max …
Same time last year, there was a lot of speculation regarding the insurance sector. But the sector is now slowly yet steadily coming out strong. Strong growth in life insurance products, a rather smooth transition to the Good and Service Tax (GST) and digital adaption of non-life product segment have given the sector a boost. …
Insurance Sector on the Way Towards Steady Growth Read More »
Since the IPV6 came into the picture, a lot of opportunities have come forward; the best one being IoT or Internet of Things. It essentially allows physical objects to collect and transfer data. There have been a lot of examples of excellent usage of IoT. For example, you could lock and unlock your house smartly …
The Insurance Regulatory Development Authority of India (IRDAI) recently modified regulations to allow offshore insurance business under the able eyes of IFSC. The International Financial Services Centre or IFSC has only Gujarat International Finance Tec-City as an operational unit. Thus, GIFT stands to benefit out of this new ruling by IRDAI. This regulation makes way …
GIFT to Benefit as Offshore Insurance Hub, Post IRDAI norms Read More »
During the Union Budget of 2014, insurers had requested the government to mandate term insurance for salaried individuals. It was along the lines of Motor Vehicles Act, 1988 which ensures that pure protection is available to individuals. Till date, a large chunk of insurance policies sold in the country accounts for endowment plans or cash …
Many travel insurance policies have a clause which states that if the accident happens as the policyholder is under the influence of excessive alcohol, the insurance company can refuse the claim. The customer has the right to appeal to the financial ombudsman if the insurance company has refused to pay for their medical expenses. In …
No Insurance Claims for Dangerously Drunk Tourists Read More »
For the third quarter of the financial year 2017-18, ending in December 2017, SBI Life Insurance Co has reported a profit of Rs.230.28 crores. This means a rise of 21% in the profits as the company had earned a profit of Rs. 190.43 crores in the third quarter of 2016-17. In the regulatory filing, SBI …
The government is aiming for Universal Health Coverage (UHC) for all the citizens by the year 2022. However, the road to UHC for all can be quite bumpy given the current status. Many individuals are losing faith in the services provided at government hospitals. And even fewer individuals have health insurances coverage for private sector …
20% Women and 23% Men in India have Health Insurance Read More »
The need for speed is a common demand for today’s age where technology has affected our lives. Everyone wants things to be done quickly and efficiently and thanks to the modern gadgets available, speed or the lack of it, is no longer an issue. You can connect with people instantly irrespective of their location, send …
SBI Life Insurance has got the final approval from the central board of the State Bank of India to go public. This would make SBI Life India’s second insurer, after ICICI Prudential, to go public, The State Bank on Monday said it had diluted its stake in the life insurance wing via an IPO. The …
SBI Life to Become the Second Insurer to go Public Read More »
Max Life Insurance was awarded the top honours as the e-business leader in the Indian insurance industry at the recently held Fintelekt Insurance Awards. This is Max Life’s second straight win in the same category. Fintelekt Insurance Awards is one of the most reputed honours that recognise achievements in the insurance industry. The 7th edition …
Max Life Recognised as the E-Business Leader at Fintelekt Insurance Awards Read More »
