Insurance

IRDAI looking at granular data to make insurance affordable for all

BC Patnaik, Member (Life), IRDAI said that IRDAI is working at fast pace to grow insurance sector by 3-4 times of country’s GDP.

by Team Cafemutual Dec 18, 2023

Soon there will be no maximum age to buy health insurance

Also, health insurers cannot reject claim after 36 months citing pre-existing conditions

by Nishant Patnaik Dec 18, 2023

‘Agents should focus on selling underpenetrated products like home insurance’

IRDAI Member BC Patnaik said that home insurance offers a great business to insurance intermediaries.

by Nishant Patnaik Dec 14, 2023

3 pension funds command over 90% share in NPS AUM

SBI Pension Funds, LIC Pension Fund and UTI Retirement Solutions together manage Rs 9.34 lakh crore of NPS assets.

by Karishma Gagwani Dec 11, 2023

NPS subscribers can now have multiple pension fund managers

However, new subscribers can exercise this option post three months of registration.

by Team Cafemutual Dec 5, 2023

Returns earned on NPS’s SWP likely to be tax free

Pension fund managers believe that any capital gains earned on Systematic Lumpsum Withdrawal (SLW) will be exempted from capital gains tax.

by Nishant Patnaik Nov 28, 2023

IRDAI proposes new commission structure for agents/intermediaries

The new proposals aim to protect interest of agents and enhance their performance among other things.

by Nishant Patnaik Nov 21, 2023

IRDAI constitute a taskforce to check mis-selling by banks

The task force will also suggest measures to improve efficiency of bancassurance in insurance distribution.

by Nishant Patnaik Nov 7, 2023

IRDAI asks insurers to start sharing financial information with account aggregators

Account aggregators (AA) offer financial data-sharing framework for investors and regulated financial entities.

by Nishant Patnaik Nov 7, 2023

Agents will have to ensure that their clients know what’s covered and what’s not in health policy

IRDAI revises customer information sheet (CIS) in which it has asked health insurers to guide policyholders on key features portability and grievance redressal mechanism.

by Nishant Patnaik Oct 31, 2023

IRDAI constitutes a committee to simplify policy wordings

This move is likely to remove confusion, make terms understandable and help policyholders to make quick decisions.

by Karishma Gagwani Oct 31, 2023

ICICI Lombard posts net profit of Rs.968 crore in April-Sept 2023

Profit before tax of the company grew to Rs.1300 crore in the first six months of FY 2024.

by Team Cafemutual Oct 22, 2023

IRDAI introduces a new business model for insurance intermediaries

IRDAI launches a new distribution channel to increase rural penetration of insurance policies.

by Nishant Patnaik Oct 10, 2023

Liberty General appoints Parag Ved as the new Director & CEO (interim)

This follows the retirement of Roopam Asthana.

by Team Cafemutual Sep 21, 2023

Check how much your non-life and health insurers paid against the premium they collect

Overall, the net incurred ratio of the nonlife and health insurers have improved over the last one year.

by Nishant Patnaik and Riddhima Bhatnagar Sep 20, 2023

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