Insurance

IRDAI allows health insurers to offer discounts and vouchers for better health and wellness.

General Insurance Council data suggests that of the total 38 lakh corona patients in India, 1.73 lakh individuals have availed insurance claims under health insurance policies.

In fact, the insurance regulator has set up a working group to identify opportunities in index funds for life insurance companies.

IRDAI has clarified that insurance companies cannot reject claims for not having a valid PUC certificate at the time of claim request.

IRDAI has asked insurance companies and intermediaries to strictly follow Supreme Court order in which it has asked insurance companies not to renew motor insurance policies without pollution under control (PUC) certificate.

Universal Sompo General Insurance and BSE EBIX join hands to offer Corona Kavach and other general insurance policies.

Many MF distributors have become point of sales representatives with insurance brokers like BSE Ebix and NJ India to offer insurance policies of multiple insurance companies.

The health insurer has launched ReAssure, a comprehensive health insurance plan that provides unlimited sum insured for any type of hospitalization including the ones related to COVID-19.

Millennials spending priorities have changed after the pandemic as half of their income now goes towards savings and investment rather than other expenses.

Agents and insurance intermediaries will have to just ask their clients to authenticate purchase of policies through OTP or simply by clicking confirmation link before buying a term plan.

PwC advises insurance companies to increase their interaction with their intermediaries like agents and brokers in these trying times.

IDBI Federal life insurance has said in its latest annual report that the life insurance industry will be severely impacted by COVID-19 as people will postpone their financial decisions.

Not only life insurance but non-life insurance players also witnessed close to 80% dip in new business premium collection in April-June.