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Insurance

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 4, 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 3, 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 Jul 31, 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 28, 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 27, 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 25, 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 24, 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 18, 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 17, 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
Agents helps increase insurance penetration in India: Swiss Re
The insurance penetration increased to nearly 3.5% in FY 2016-17 while the insurance density stood at US $59.7 during the same period.
by Rosevina Gonsalves Jul 12, 2017