68% Indian households prefer buying insurance policies through agents: IRDAI
Most Indians rely on their agents to fill up the proposal form
by Team Cafemutual Apr 25, 2017
Life insurance industry loses 5 lakhs agents in 5 years
The total number of agents declined from 26.08 lakh in FY 2011-12 to 20.88 lakh in FY 2016-17
by Team Cafemutual Apr 24, 2017
IRDAI imposes Rs20 lakh penalty on Tata AIG General Insurance
The insurer solicited business through unauthorised agents and made additional payments to corporate agents
by Team Cafemutual Apr 20, 2017
Life insurers mop up additional 26% from new business premium in FY 2016-17
The growth was largely on account of LIC, which contributed more than 70% to the overall industry’s new business premium collection.
by Team Cafemutual Apr 19, 2017
IRDAI revises third party motor insurance premium after widespread protest
The insurance regulator has reduced third party motor insurance premium from 40% to 28%.
by Team Cafemutual Apr 18, 2017
IRDAI asks insurers and intermediaries to share information about their sales representatives
The insurance regulator has instructed insurance companies and insurance intermediaries to start uploading such database from April 15
by Team Cafemutual Apr 15, 2017
You can be Flipkart or Amazon of insurance distribution
Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurance intermediaries to distribute insurance policies by floating their own e-commerce platform
by Team Cafemutual Apr 14, 2017
Life insurance related queries are now a chat away
HDFC Life, PNB Metlife Insurance have recently rolled out their own versions of chatbots.
by Rosevina Gonsalves Apr 12, 2017
Non-life insurance premium up by 32% in FY 2016-17
Experts attribute this growth to increasing premium collection in health insurance, motor insurance and crop insurance.
by Rosevina Gonsalves Apr 11, 2017
Open architecture in insurance distribution yet to gain popularity
Only 114 individuals and corporates have floated Insurance Marketing Firm (IMF) in two years.
by Rosevina Gonsalves Apr 7, 2017
Edelweiss Financial Services to foray into general insurance business
The company has received IRDAI’s go ahead to set up non-life business in India.
by Team Cafemutual Apr 7, 2017
Should you consider protecting your business with cyber insurance?
Increasing cyber-crime and online threats have led to an increase in demand for cyber insurance policies.
by Rosevina Gonsalves Apr 7, 2017
More teeth to insurance brokers
IRDAI proposes to allow insurance brokers to provide claims assistance to policyholders for claims up to Rs.10 crore.
by Team Cafemutual Apr 4, 2017
A combination of offline financial advice and online transactions can help agents grow business: LIC
LIC Chairman VK Sharma has urged distributors to adopt ‘physital mode of distribution’ i.e. a combination of both – physical and online insurance distribution to grow their business.
by Rosevina Gonsalves Apr 3, 2017
IRDAI imposes fine on ICICI Prudential and PNB Metlife for violating norms
While ICICI Prudential had made additional pay out to its corporate agents, PNB MetLife delayed claim settlement.
by Team Cafemutual Apr 1, 2017