IRDA introduces lock-in period in shareholding of insurance brokers
The insurance regulator has mandated a lock-in period of three years for executing a transfer of over 50% shares in any insurance broking firm.
by Nishant Patnaik May 8, 2014
General insurer’s premium collection growth at four-year-low
New business premium collection in non-life business dips to 12 percent in FY 2013-14, the lowest in the last four years.
by Nishant Patnaik May 7, 2014
IRDA shortlists Accenture, IBM, PwC and United Health to set up fraud analytics system
Fraud analytics system aims to reduce fraudulent claims by detecting it at an initial stage.
by Team Cafemutual Apr 23, 2014
IRDA forms working group to simplify non-life products
An eight member group will submit its report within three months.
by Team Cafemutual Apr 21, 2014
73 percent of health insurance policies sold through individual agents: ASSOCHAM
But individual agents have only a 32% share in industry’s total health insurance premium collection.
by Team Cafemutual Apr 16, 2014
IRDA imposes Rs. 1.77 crore fine on Reliance Life
Of the Rs. 1.77 crore penalty, Rs. 65 lakh was imposed for soliciting business through unauthorized or non-licensed entities.
by Team Cafemutual Apr 16, 2014
IRDA to create a new distribution channel called Insurance Marketing Firm (IMF)
Individual agents can sell multiple insurance policies once they surrender their existing agency license and clear the broker exam.
by Team Cafemutual Apr 3, 2014
A life insurance agent sold an average of 18 policies in FY 2012-13: IRDA
Individual agents collected an average new business premium of Rs. 2.15 lakh in the previous fiscal.
by Team Cafemutual Apr 2, 2014
IRDA announces marginal hike in third party premium rates
The new rates will be effective from April 1, 2014.
by Nishant Patnaik Mar 28, 2014
Cigna TTK launches its first product called ProHealth
The product provides an emergency health cover across the world. Under this facility, if your client falls sick abroad, he/she can claim for cost of treatment.
by Team Cafemutual Mar 27, 2014
Cigna TTK launches its first product called ProHealth
The product provides an emergency health cover across the world. Under this facility, if your client falls sick abroad, he/she can claim for cost of treatment.
by Team Cafemutual Mar 27, 2014
IRDA asks insurers to pay Rs. 20 lakh for distributing policies through common service centres
IRDA has asked insurance companies to contribute this on-boarding fund in four installments. The first installment has to be paid before March 31, 2014.
by Team Cafemutual Mar 26, 2014
IRDA allows insurers to collect advance premium in the same financial year
However, the adjustment of commission payout on advance premium will be settled after its due date.
by Team Cafemutual Mar 26, 2014
IRDA invites feedback for maintaining electronic health records
Electronic health records will help insurers and intermediaries to track health history of policyholders which in turn will lead to better product design and product fitment.
by Nishant Patnaik Mar 25, 2014
General insurance new business premium collection grow at a slower pace this year
Private non-life players register 15% growth while public sector insurers recorded 11% growth in new business premium collection.
by Team Cafemutual Mar 25, 2014
