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
Top 10 life insurers profit grows marginally in FY 2016-17
LIC remains the most profitable insurer even after witnessing a decline in its profits.
by Rosevina Gonsalves Jul 4, 2017
Agency channel drives Bajaj Allianz Life Insurer’s growth
The company appointed 18,000 new insurance agents in FY 2016-17.
by Rosevina Gonsalves Jun 26, 2017
IRDAI bars Sahara India Life Insurance from doing fresh business
The insurance regulator had recently taken over the management of the life insurer by appointing a run-off administrator to manage company affairs.
by Team Cafemutual Jun 24, 2017
‘Insurtech is the biggest concern for general insurers globally’
A recent PwC report found that digital disruption in the insurance industry is a big concern for non-life insurers globally.
by Team Cafemutual Jun 16, 2017
IRDAI takes charge of Sahara India Life Insurance
The insurance regulator has appointed an official to manage affairs of the life insurer with immediate effect.
by Team Cafemutual Jun 13, 2017