Claimants need not sign acknowledgment receipt at the time of claim settlement: IRDAI
Now, insurers cannot insist policyholders or claimants to sign on acknowledgement receipt during claim settlement.
by Nishant Patnaik Jul 21, 2016
Aditya Birla group to float health insurance business
The total number of standalone health insurers has gone up to six.
by Team Cafemutual Jul 18, 2016
15 new players gets IRDAI license for open architecture model in insurance distribution
In just three months, 15 new entities have received licenses from IRDAI to float Insurance Marketing Firm (IMF), taking total count of such players to 29.
by Team Cafemutual Jul 16, 2016
Now, agents can sell Pradhan Mantri Bima Suraksha Yojana through sales representatives
IRDAI has allowed Point of Sales Person (PoSPs) of intermediaries to distribute government approved insurance schemes.
by Nishant Patnaik Jul 15, 2016
IRDAI inducts two new members in Insurance Advisory Committee
Secretary of both Life Insurance Council and General Insurance Council have been inducted in the committee.
by Team Cafemutual Jul 12, 2016
Low insurance penetration reflects large untapped potential: Credit Suisse
A Credit Suisse report found that the insurance penetration in India was very low at 3.44% in calendar year 2015.
by Team Cafemutual Jul 7, 2016
IRDAI imposes Rs.10 lakh penalty on Max Life Insurance
Max Life Insurance is found to have not refunded the excess premium amount which was charged during proposal stage.
by Team Cafemutual Jul 1, 2016
Now, agents can sell crop insurance policies through sales representatives
IRDAI has allowed Point of Sales Person (PoSPs) of intermediaries to distribute government approved crop insurance schemes.
by Nishant Patnaik Jul 1, 2016
95% of Indians are underinsured for any health crisis: BigDecisions survey
The survey shows that consumers above 45 years of age are a high risk group and are least prepared for health emergencies.
by Team Cafemutual Jun 30, 2016
IRDAI may relax agency norms to sell simple insurance policies
Individuals who wish to distribute plain vanilla products like motor third party insurance may be allowed to sell them without acquiring agency license.
by Nishant Patnaik Jun 29, 2016
e-insurance policies likely to get cheaper than physical policies
IRDAI has permitted insurers to offer discount on e-insurance policies.
by Team Cafemutual Jun 24, 2016
Life insurers record 36 percent growth in new business premium collection in April-May 2016
The growth was largely on account of LIC which contributed more than 70% to the overall industry’s new business premium collection.
by Team Cafemutual Jun 24, 2016
Profits of top 10 life insurers grows marginally in FY15-16
LIC emerges as the most profitable insurer clocking a net profit of Rs. 2,518 crore last fiscal.
by Nishant Patnaik Jun 20, 2016
Life insurance industry pays Rs. 13,000 crore commission in April-December 2015
Considering that the life insurance industry has 20 lakh agents, each agent has earned close to Rs. 65,000 on an average during April-December 2015.
by Nishant Patnaik Jun 20, 2016
IRDAI removes 2-hour-a-day cap on training for acquiring IMF license
Agents can undergo 50-hour mandatory training at their will with no maximum cap per day to acquire IMF license.
by Team Cafemutual Jun 17, 2016
