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Aadhaar is sufficient for insurance KYC verification: IRDAI
Simply put, insurance agents can on board new clients through Aadhaar card.
by Team Cafemutual Sep 1, 2017
Upfront commission should be in line with trail commission in life insurance: RBI committee
RBI committee recommends uniformity between first year commission and renewal commission to improve the persistency ratio.
by Rosevina Gonsalves Aug 29, 2017
Life insurance AUM reaches close to Rs.30 lakh crore in FY 2016-17
Increase in new business premium and increased persistency ratio have helped the life insurance industry record 19% growth in its AUM.
by Team Cafemutual Aug 28, 2017
IRDAI to form a centralized database of all agents
In fact, the insurance regulator has asked insurance companies to upload data of their corporate agents and brokers on a new platform. In the next phase, IRDAI will ask insurers to put details of their agents.
by Team Cafemutual Aug 27, 2017
HDFC ERGO completes merger with L&T General Insurance
The company claims that this merger is the first merger of two major non-life insurance companies.
by Team Cafemutual Aug 23, 2017
‘We would not push insurers to reduce premium in direct plans’
IRDAI Chief TS Vijayan has said that the insurance regulator is not keen on pushing insurance companies to reduce premium amount on direct sales.
by Nishant Patnaik Aug 23, 2017
Social security schemes and direct sales reduce commission expenses of non-life companies
Non-life insurers reduced their commission expenses by 61% in FY 2016-17.
by Rosevina Gonsalves and Nishant Patnaik Aug 19, 2017
Now policyholders can share a video to avail motor insurance claims
ICICI Lombard general insurance introduces video inspection feature in its mobile app through which policyholders can share video of a car damage to avail motor insurance claim.
by Team Cafemutual Aug 17, 2017
Life insurers paid gross commissions of Rs.22,100 crore in FY 2016-17
LIC alone paid commission of over Rs.15,000 crore last year.
by Rosevina Gonsalves Aug 11, 2017
‘40% of investors do research online but buy policy offline’
The insurance regulator believes that technology will not overpower agents.
by Rosevina Gonsalves Aug 11, 2017
Sales representatives of agents can now distribute health insurance policies
Initially, the insurance regulator had allowed sales representatives to sell simple life, motor third party and government backed policies.
by Team Cafemutual Aug 11, 2017
Agents will now have to furnish PUC certificate to renew motor insurance: SC
The Supreme Court has directed insurance companies not to renew motor insurance policies without pollution under control (PUC) certificate.
by Team Cafemutual Aug 10, 2017
‘High tech distributors can help industry grow’
IRDAI Chief TS Vijayan believes that the industry should develop technology for agents and brokers to help them expedite sales process.
by Nishant Patnaik Aug 8, 2017
IRDAI to decide on HDFC Life’s IPO issue on August 28
The insurance regulator will decide the fate of the HDFC life’s IPO issue in its board meeting on August 28, 2017.
by Rosevina Gonsalves and Nishant Patnaik Aug 8, 2017
Aadhaar may suffice to onboard a new client: IRDAI Chief
IRDAI to allow Aadhaar as a single document to carry out KYC
by Nishant Patnaik Aug 7, 2017