IRDAI to come out with exposure draft on financing non-life premiums through loans
This practice is prevalent in international markets.
by Nishant Patnaik Sep 12, 2016
Open architecture in insurance distribution gaining momentum
In just eight months, 30 new entities have received licenses from IRDAI to float Insurance Marketing Firm (IMF), taking the total count of such players to 34.
by Nishant Patnaik Sep 9, 2016
‘Online channel will not undermine the importance of agents’
Nilesh Sathe, Member - Life, IRDAI said that while online distribution channel may grow in the days to come, traditional agency channel will not be affected as people need handholding to buy insurance policies.
by Team Cafemutual Sep 9, 2016
IRDAI to finalize commission structure of agents soon
IRDAI Member Nilesh Sathe said that the insurance regulator will finalize the commission structure of agents in the upcoming board meeting.
by Team Cafemutual Sep 9, 2016
IRDAI introduces verification through OTP for e-insurance policies
Policyholders have been asked to verify transactions using OTP in addition to digital signature or Aadhar eKYC.
by Team Cafemutual Sep 9, 2016
Now, policyholders can revive lapsed ULIPs within two years
That means, life insurers will have to reverse the penalty amount which they charge on discontinuance of premium payments.
by Team Cafemutual Sep 2, 2016
‘Unique identification number can help reduce mis-selling in banks’
IRDAI chairman TS Vijayan said that issuing a unique identification number to sales persons of banks can help curb mis-selling.
by Nishant Patnaik Aug 26, 2016
76,000 LIC agents call it quits, private insurers add 50,000 agents
Overall, the insurance industry has witnessed an attrition of 27,000 agents over the last one year.
by Darshita Shah Aug 26, 2016
IRDAI to allow sales representatives to distribute life insurance policies
The insurance regulator is looking forward to allowing point of sales representatives who are appointed by agents to sell life insurance products along with health, crop and other non-life products.
by Nishant Patnaik Aug 25, 2016
EY recommends leveraging digital technology to increase insurance penetration
Internet of Things (IoT), Robotic Process Automation (RPA) and blockchain technology will revolutionize insurance business, predicts EY.
by Team Cafemutual Aug 23, 2016
Max Bupa Health Insurance partners with Sarva U.P. Gramin Bank in UP
by Team Cafemutual Aug 23, 2016
IRDAI to reach out to government on GST
The insurance regulator is working with associations like life insurance council (LIC) and general insurance council (GIC) to ascertain how GST will impact the insurance industry.
by Nishant Patnaik Aug 22, 2016
Lessons to learn from Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
The success of PMJJBY teaches the life insurance industry how insurance products are designed, marketed and distributed among the masses.
by Nishant Patnaik Aug 22, 2016
IRDAI imposes a fine of Rs.35 lakh on Bharti Axa General Insurance
The company was found to have violated IRDAI norms such as distribution of policies through unauthorized agents/entities and paying additional commission to its corporate agents.
by Team Cafemutual Aug 16, 2016
IRDAI to come out with final guidelines on commission structure by October
IRDAI Chairman T.S. Vijayan told Cafemutual that the insurance regulator will finalize the commission structure by October.
by Nishant Patnaik Aug 16, 2016