Insurance

Insurance claim settlement to become more transparent

IRDAI has asked insurance companies to give step-by-step update on status of claims.

by Sridhar Kumar Sahu Apr 12, 2019

Five online portals quit insurance distributors business

With this, the insurance industry has 27 web aggregators as on February 2019.

by Team Cafemutual Apr 6, 2019

No revision in motor third party premium rates: IRDAI

However, the insurance regulator said that it would relook at rates in FY 2019-20.

by Team Cafemutual Mar 29, 2019

You may earn renewal commission on orphan policies

IRDAI has asked insurers to allot orphan policies to their existing insurance agents to serve policyholders.

by Team Cafemutual Mar 25, 2019

PSU general insurers paid higher commission than private non-life insurers

The general insurance industry has paid gross commission of Rs.10,030 crore against the total premium collection of 1.53 lakh crore last fiscal.

by Nishant Patnaik Mar 22, 2019

PSU general insurers paid Rs.9.40 out of Rs.10 they collected in FY 2017-18

However, their private counterparts have paid Rs.7.50 of Rs.10 they collected last fiscal.

by Nishant Patnaik Mar 21, 2019

PSU general insurers better at settling claims

PSU general insurers have settled 100% claims as against 88% of their private counterparts in FY 2017-18.

by Nishant Patnaik Mar 20, 2019

Life insurance agents get over 20% of the premium collected as first year commission

Commission expense ratio of life insurance industry has increased to 20.29% in FY 2017-18 compared to 18.43% in FY 2016-17.

by Nishant Patnaik Mar 15, 2019

Comply with Ombudsman order within 30 days, else we will act: IRDAI to insurers

The insurance regulator has found that many insurers are not paying heed to the orders and awards of Ombudsman.

by Team Cafemutual Mar 6, 2019

Penetration of insurance industry increases to 3.69%

Penetration of the life insurance sector has increased marginally.

Posted on Mar 4, 2019

Rs.11,500 crore commission paid to insurance agents in April-September 2018

The gross commission of agents has increased by 15%.

by Team Cafemutual Mar 3, 2019

PE firm True North to acquire controlling stake in Max Bupa Health

All cash transaction, values Max Bupa at Rs. 1,001 crore.

by Team Cafemutual Feb 26, 2019

Insurance industry finally sees agency force growing

LIC India added 30,175 agents while private insurers added 35,443 agents last year.

by Shreeta Rege Feb 22, 2019

General insurance AUM grew by 21% last fiscal.

General insurer’s assets inch closer to 2.7 lakh crore.

by Team Cafemutual Feb 20, 2019

Agents bring 66% of new business premium in life insurance

LIC has procured 96% of its new business premium through individual agents.

by Team Cafemutual Feb 18, 2019

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