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  • Insurance

    India among the lowest commission paying countries: IRDAI
    It is a myth that insurance agents in India receive a hefty commission, says IRDAI.
    by Rosevina Gonsalves Aug 8, 2017
    No incentives for insurance marketing firms in life insurance
    However, insurance marketing firms (IMFs) can be paid up to 50% of first year commission from life insurers to train their employees.
    by Team Cafemutual Aug 5, 2017
    IRDAI proposes to hike commissions on motor insurance policies
    The insurance regulator proposes to introduce commission payouts in motor third party insurance component of comprehensive policy from fourth year of renewal.
    by Nishant Patnaik Aug 4, 2017
    SAT gives Sahara Life a week’s relief
    SAT has put a stay order on IRDAI’s decision of transferring the Sahara Life’s insurance portfolio to ICICI Prudential.
    by Team Cafemutual Aug 1, 2017
    India’s largest life insurance merger called off
    HDFC Life, Max Life withdraw merger plans after failing to receive IRDAI approval.
    by Team Cafemutual Jul 31, 2017
    ICICI Prudential Life to take over Sahara Life Insurance
    Sahara Life portfolio to move to ICICI Prudential Life Insurance with effect from July 31, 2017.
    by Team Cafemutual Jul 29, 2017
    Life insurance industry sees 4.5% growth in its profit
    The life insurance industry has recorded a combined net profit of Rs.7,707 crore in FY 2016-17.
    by Rosevina Gonsalves Jul 29, 2017
    Private non-life insurers see profits surge in FY 2016-17
    17 private insurers recorded an increase of over 100% in their PAT last fiscal.
    by Rosevina Gonsalves Jul 28, 2017
    Life insurance agency force continues to decline
    The life insurance industry has witnessed an attrition of over 5,600 agents in the first quarter of FY 2017-18.
    by Rosevina Gonsalves Jul 26, 2017
    Unclaimed insurance amounts to be used for the benefit of senior citizens
    Insurance firms (both life and non-life) are holding close to Rs. 12,000 crore of unclaimed funds as on March 31, 2016.
    by Team Cafemutual Jul 26, 2017
    Distributors to get commission of 10 basis points on Pradhan Mantri Vaya Vandana Yojana
    The government has exempted this scheme from GST. This means, agents selling this scheme need not pay GST on commission.
    by Team Cafemutual Jul 25, 2017
    ULIPs boost life insurance premium
    The new business premium of life insurers grew by 13% in the first quarter of FY 2017-18.
    by Rosevina Gonsalves Jul 19, 2017
    Non-life insurers’ new business premium collection up by 22% in Q1 FY 2017-18
    The total business premium grew to Rs33,303 crore in the first quarter of FY 2017-18 as against Rs 27,310 crore in the corresponding period last year.
    by Team Cafemutual Jul 18, 2017
    Agents will have to link Aadhaar with their agency code
    IRDAI has asked insurers to collect the Aadhaar number of their agents and upload it on IIB’s portal.
    by Rosevina Gonsalves Jul 15, 2017
    Now, agents will require a certificate from policyholders
    Agents will need acknowledgement from policyholders that they have given all material information related to the recommended policy and the client has understood it.
    by Team Cafemutual Jul 13, 2017