Insurance

IRDA wants insurers to re-file existing products, firms worried about their business prospects

The regulator has directed all insurers to be ready to re-file their existing products according to its new product design guidelines. All products filed under earlier norms will have to be withdrawn by 1st October.

by Pallabika Jun 23, 2012

‘Allottee’ agents to adopt orphaned policies

Regulator puts in place new guidelines for servicing orphan policies.

by Pallabika Jun 19, 2012

Insurers less than 5 years old will be unable to launch super agency model

According to the draft norms suggested by IRDA, only agents with 5 years’ experience in the life insurance industry will be able to form a super agency.

by Pallabika Jun 19, 2012

IRDA wants agents to adopt super agency model, but advisors toe a cautious line

The regulator had earlier suggested that the super agency model might help curb exit of agents and improve insurance penetration. But can such a model really take off? Cafemutual finds out.

by Pallabika Jun 12, 2012

Generali looks to exit from Future Group JV, eyes fresh JV with Reliance General Insurance

Sources say that the Italian insurer is still negotiating the valuations for the proposed deal with Reliance.

by Pallabika Jun 8, 2012

Agents are the preferred distribution channel for insurers: IRDA study

In 2010-11, agents generated Rs 65,665 crore as new business premium.

by Pallabika Jun 5, 2012

Health insurance to take a new shape

IRDA proposes sweeping changes in health insurance.

by Team Cafemutual Jun 3, 2012

ICICI Prudential Life to pay penalty for paying extra commission to distribution channel

The Insurer has to pay Rs 118 lakh fine within 15 days.

by Pallabika Jun 1, 2012

IRDA to allow the super agency model to help the industry retain agents

The regulator wants to take steps to control the exodus of agents from the industry.

by Pallabika May 21, 2012

Kotak Life uses TV show to motivate agents, expand workforce

Insurer has launched a programme featuring the success stories of six successful insurance agents from Maharashtra.

by Pallabika May 17, 2012

‘Everything product’ to cover all insurance needs mooted for rural India

At a national conference on Financial Inclusion organised by Associated Chambers of Commerce and Industry of India (Assocham) in association with Ernst and Young, yesterday, the idea of an ‘everything product’ to take care of multi risks for rural public was floated.

by Pallabika May 17, 2012

IRDA clamps down on products with highest NAV guarantee

Also, in order to ensure adequate cover, the regulator has ordered that death benefits should be linked to premiums paid.

by Team Cafemutual May 14, 2012

On the mat, life insurance industry cheers rollback of MAT

Finance Minister rolls back proposal to hike tax to 18.5% from 12.5%, leaves new tax deduction norms on policies unchanged.

by Pallabika May 9, 2012

3 lakh life insurance agents quit in 3 months

Life Insurance companies letting unproductive agents go

by Pallabika May 6, 2012

IFAs welcome IRDA’s consumer education website

Many advisors plan to use the regulator’s information portal to boost awareness among policyholders.