Insurance

Insurance firm Howden to raise stake in Indian arm to 100%%; gets Irdai nod

Global insurance broker Howden said it has received insurance regulator Irdai's approval to raise its stake from 49% to 100% in its Indian arm

AXA set to launch mental health insurance in Indian group policies

The first-ever standalone product in this space will provide Rs 25,000 for virtual consultations with therapists, psychologists and life coaches, and up to Rs 1 lakh for hospitalisation

PMJJBY subscription increases to 128 mn, PMSBY at 284 mn in 7 years

Changes introduced by the government in the claim settlement process have led to quicker and easier settlement of claims during the pandemic, Finance Minister Nirmala Sitharaman

Madhavbaug's PAT up 785 per cent in FY22

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LIC IPO opens today. Should you subscribe? What brokerages suggest

While LIC policyholders are entitled to Rs 60 discount over the issue price, the retail investors will be offered the issue at a discount of Rs 45 per equity share

IRDAI suggests new modules for low-income group, small businesses

The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi MI (Micro Insurance) products.

Insurtech platform Turtlemint raises $120 million in Series E funding

The latest funding round has valued Turtlemint at more than $900 million.

Insurers allowed exposure to fin, insurance upto 30% of investment assets

Accordingly, the limit of 25% of investment assets stands revised to a limit of 30% of investment assets

Air India takes Rs 60,800 cr cover for its fleet, paid Rs 266 cr premium

Under new policy, Air India can't fly in Russia, Ukrainian airspace due to war

Insurance takes on a new cover

Online channels have demonstrated exponential growth over the last few years, especially after the pandemic

New business premiums of life insurance companies jump 37% in March

In FY22, life insurers post 13% growth in new biz premium, compared with 7.5% growth in FY21

Pinbox gets seed capital from ADB Ventures to expand micro pension coverage

Pinbox works to address friction and accessibility challenges in delivering micro pension and insurance solutions to underserved informal sector workers, ADB Ventures said in a statement

Kansas labour dept picks TCS to modernise unemployment insurance programme

For more than two decades, TCS has partnered with states across the US to transform unemployment insurance systems

PSU insurers lodge Covid insurance claims worth Rs 17,537 cr till Dec 2021

Public sector insurers lodged Covid-19 related health insurance claims worth Rs 17,537 crore till December 2021 and more than 93 per cent of the cases were settled, Parliament was informed on Monday.

India, China lead Asia's insurtech industry rise, says report

Mainland China-based insurtechs raised $673.7 million in 2021 and $1.42 billion in 2020.

We want to increase our offline capability, says Policybazaar.com CEO

The demand for term products is always there. The problem is the supply: Policybazaar.com CEO

Debasish Panda takes charge as Irdai chairman for a three-year period

The position of Irdai chairman was vacant for a period of over nine months, ever since Subhash Chandra Khuntia demitted office in May 2021

This is the hour of InsurTech

The efficiencies resulting from making insurance products and processes digital can be passed on to customers through more affordable premiums

LIC effect: Life insurers' February new business premium rises 22%

NBP is the premium acquired from new policies for a particular year

Irdai wants insurers at par with banks on legal recourse for surety bonds

The finance minister in her Budget speech this year had said that surety bonds can be used as a substitute for bank guarantees for government procurement