Insurance

Over the last one year, Max Life Insurance has added close to 50,000 agents, highest among all insurers.

The new AML/CFL guidelines makes it mandatory for insurers to do proper due diligence before selecting agents and intermediaries.

The insurance regulator has also asked insurers to provide health cover to persons with mental illness.

Overall, the industry has added over 1 lakh new agents in one year.

The insurance regulator has also fined Max Life Insurance Rs.3 crore for violating norms like transferring of share at unfair market value and giving undue monetary gain to its corporate agent.

They lead in ‘third party’ motor insurance but have lost ground in 'own damage' motor insurance space.

IRDAI proposes launch of e-insurance policy along with e-proposal form through which insurance intermediaries can sell insurance policies completely online.

India is ahead of China (at 2.4%) and UK (at 3%).

Thomas has over 35 years of experience in the insurance industry.

IRDAI has relaxed compliance burden on NPS subscribers.

Agents can earn sitting fees for such an appointment.

So far, only legally wedded couples were allowed to avail health cover under group insurance.

Tata AIA Life become the largest company in terms of MDRT qualified life insurance advisors in India.