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Robust proprietary channel needed for insurance sector: BCG
While multi-partnership bancassurance architecture will open up opportunities for insurers, health of the agency channel cannot be neglected, said BCG.
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Irda may cut cost of more insurance products
Participating products are traditional investment-cum-savings products where benefits include bonus declared by the participating fund.
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GIC Re to open China branch in 2-3 months
National reinsurer GIC Re will start operations in China within the next two-three months as it eyes a place among the top 10 global reinsurers.
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Kotak Life Insurance gains traction in south Indian market on Kotak Mahindra...
Kotak Life Insurance has posted nearly 50 per cent year-on-year growth in its first premium income for the first nine months of the fiscal.
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Finally, LIC rolls out online repository
The Life Insurance Corporation of India launched its own insurance repository -- LIC E-services -- which will allow its existing customers to check details of policies.
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Canara HSBC Life sees 50% growth in eastern region business
Till January this year, the new premium for individual was Rs 322 crore as against Rs 248 crore in the same period last year.
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IRDAI mulling extending e-Vahan Bima throughout India
With an aim to provide motor insurance policies at vehicle owners' doorstep, insurance regulator IRDAI is contemplating promoting the e-Vahan Bima system.
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Irdai may make electronic insurance mandatory in some cases
Irdai today came out with a proposal to make it mandatory for insurers to issue electronic policies if the sum insured exceeds a specified threshold for life, health and general products.
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IRDAI slaps Rs 20 lakh penalty on Oriental Insurance Co
Insurance regulator IRDAI has imposed a penalty of Rs 20 lakh on state-owned Oriental Insurance Company for violation of guidelines.
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New generation insurance policy buyers preferring to purchase pure life term...
A term plan is the simplest of products to buy and it is easier to compare between policies offered by different insurers, he said.
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Insurers stop policy sales in over 60 localities to prevent fraudulent claims
“We have started sharing data on employees, medical centres, distributors and locations and blacklisted those indulging in frauds,” said Amitabh Chaudhry, CEO.
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Budget 2016: Higher levies on cars give general insurers the jitters
“Higher taxes on vehicles could indirectly affect our motor insurance business,” said Bhargav Dasgupta, MD and CEO, ICICI Lombard.
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Budget 2016: NPS goes one up on life insurance pension plans
While service tax has been reduced from 3.5% to 1.4% for life insurers’ single premium annuity policies, it has been completely waived off for NPS.
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Budget 2016: Taxing times ahead for insurance agents?
Finance Minister Arun Jaitley has not announced any tax-saving deduction that insurance agents can use as their next sales pitch.
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Experian Launches fraud detection tool to help insurance firms lower losses...
Fifteen life insurance companies have already joined the platform. Insurance industry faces a peculiar problem.
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