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  • Insurance

    IRDAI nudges insurers to offer health policies to transgenders, differently abled, mentally ill
    The insurance regulator has asked insurance companies to disclose their underwriting philosophy and approach to offer health insurance coverage to these individuals.
    by Team Cafemutual Mar 23, 2022
    Debasish Panda is the new IRDAI chairman
    Panda, ex IAS officer, has joined IRDAI on March 14, 2022.
    by Team Cafemutual Mar 21, 2022
    Only 31% insurance agents are active in the insurance industry
    Close to 8 lakh agents sell health policies as against 25 lakh agents who sell life insurance.
    by Team Cafemutual Mar 21, 2022
    How much do insurers spend on commission payout and operations?
    The expenses incurred by private players (as % of premium) is higher than that of LIC but is coming down steadily.
    by Team Cafemutual Mar 21, 2022
    Niva Bupa Health Insurance launches affordable cancer policy
    Priced at Rs. 1,499, the policy provides a coverage of Rs. 5 lakh for a family of up to 5 members
    by Team Cafemutual Mar 17, 2022
    LIC, SBI Life and ICICI Prudential collect highest renewal premium
    Overall, private players collected Rs. 1.30 lakh crore renewal premium in FY 2020-2021
    by Team Cafemutual Mar 16, 2022
    LIC and SBI Life are masters in selling new life insurance policies
    HDFC Life is a close third in new business premium collection in FY 2021 at Rs. 20,624 crore
    by Abhishek Kumar Mar 10, 2022
    Individual agents rule health insurance space
    Overall, they lag behind brokers and direct channels in general insurance, shows IRDAI data.
    by Abhishek Kumar Mar 5, 2022
    Even after 20 years of opening up, insurance penetration in India is less than 5%
    Penetration of insurance is just 4.20% of GDP, which is far less than global average of 7.2%.
    by Team Cafemutual Mar 2, 2022
    ‘Average premium of term insurance increases to Rs.30,720’
    The average annual premium of term insurance policy having sum assured of Rs.1 crore has increased from Rs. 29,443 to Rs. 30,720.
    by Team Cafemutual Mar 2, 2022
    Of the total premium of Rs.100, non-life companies pay Rs.81 as claim
    The incurred claim ratio of general insurers has declined from 86% in FY 2019-20 to 81% in FY 2020-21.
    by Team Cafemutual Feb 28, 2022
    Max Life and LIC are most generous in paying commission
    Max Life has paid 6.5% of total premium or Rs.1,236 crore to agents in FY 2021.
    Posted on Feb 23, 2022
    ‘Life insurers can spend up to 90% of first-year premium’
    IRDAI allows newer players to spend more due to higher costs in initial phase of operations.
    by Team Cafemutual Feb 18, 2022
    An LIC agent brings new business premium of Rs.4.18 lakh per year
    Such a contribution is Rs.1.25 lakh for the top 5 private insurers.
    by Nishant Patnaik Feb 16, 2022
    A 2-minute guide on new ULIP taxation rules
    Proceeds from ULIP plans with over Rs.2.50 lakh yearly premium are now subject to capital gains tax. But what happens when an investor has bought more than one plan? Here is a guide.
    by Abhishek Kumar Feb 5, 2022
    Cafemutual is an independent media platform and focuses on providing knowledge and information for the benefit of finance professionals. We do not promote any particular brand or asset category.