Agents appointed sales representatives can also sell health insurance policies
Such sales representatives can distribute health insurance policies with a coverage of up to Rs. 1 lakh and critical illness coverage of up to Rs. 3 lakh.
by Nishant Patnaik Mar 22, 2016
IRDAI gives green signal to 6 new web aggregators
Policybazaar, Easy Policy, Mint Wise, MSF, Compare Policy and Boon Insurance have received licenses to become to web aggregators.
by Team Cafemutual Mar 21, 2016
Investors seek advice from IFAs before buying insurance policies: Capgemini survey
42% of Indian investors take advice from financial advisors before buying insurance policies.
by Team Cafemutual Mar 11, 2016
IRDAI constitutes committee to float insurance service centres
These service centres are expected to function as R&T agents of insurance industry, say industry experts.
by Team Cafemutual Mar 9, 2016
IRDAI issues clarification on open architecture commission structure
The insurance regulator has said that Insurance Marketing Firm (IMFs) will get commissions in line with insurance brokers.
by Team Cafemutual Mar 3, 2016
TDS on insurance commission to go down to 5%
A rough calculation shows that on a gross commission of Rs.60,000, agents will have to cough up TDS of Rs.3,000 instead of Rs.6,000.
by Nishant Patnaik Mar 1, 2016
Over 1.60 lakh life insurance agents call it quits in CY 2015
The total number of agents declined from 21.6 lakh in December 2014 to 20.4 lakh in December 2015.
by Team Cafemutual Feb 26, 2016
Incurred claim ratio of non-life insurers remains flat in FY 2014-15
Low incurred claim ratio indicates healthy growth prospects and profitability in general insurance business.
by Team Cafemutual Feb 22, 2016
Life insurers AUM grows to Rs. 22.50 lakh crore in FY 2014-15
Growth was largely driven by improved persistency ratio.
by Team Cafemutual Feb 11, 2016
Private insurers outpace LIC in settling death claims
Though private insurers have a poor claim settlement ratio as compared to LIC, they have settled 76% of claims in less than three months.
by Nishant Patnaik Feb 11, 2016
Few takers for open architecture distribution model in insurance
Only four entities have received a license from IRDAI to float Insurance Marketing Firm (IMF).
by Team Cafemutual Feb 8, 2016
Now agents can hire sales representatives to sell insurance policies
The board of directors of insurance companies will have to approve remuneration structure of such sales persons, clarified IRDAI Chairman, T.S. Vijayan.
by Nishant Patnaik Feb 5, 2016
IRDAI asks insurers to develop a platform for distributors
IRDAI Chairman T.S. Vijayan stressed the need to reduce turnaround time and simplify sales process for agents through technology.
by Nishant Patnaik Feb 2, 2016
LIC to leverage its newly launched repository service to promote direct plans
LIC will enable policyholders to buy policies online directly through its repository service called ‘e-services’.
by Nishant Patnaik Feb 1, 2016
IRDAI proposes stricter norms for health insurance sector
The insurance regulator has proposed to increase the minimum requirement of members from 10 to 20 for a group health insurance policy.
by Team Cafemutual Jan 29, 2016