Public sector banks (PSBs) have set a target for the sale of flagship government insurance schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan […]
Tag: Insurance
Regulator Irdai looking at 20 more insurance applications, says Chairman Debasish Panda
Insurance regulator Irdai has given licence to a General insurer for the first time since 2017, close on the heels of allowing two more applicants […]
Commission caps gone, insurers to face more competition
The recent move to abolish the commission cap by the insurance regulator has intensified competition among insurers, particularly unlisted players keen to wrest market share. […]
Irdai to insurers: Cut costs, pass on gains to customers
India’s insurance regulator has asked insurers to slash expenses and pass on those savings to their customers, potentially helping lower policy costs in one of […]
LIC, GIC Re, New India remain Domestic Systemically Important Insurers, says Irdai
Regulator Irdai on Friday said Life Insurance Corporation of India, General Insurance Corporation of India, and New India Assurance Co continue to remain as Domestic […]
Insurers plan digital payments platform for reinsurance business
Insurers are looking to set up a digital payments platform (exchange) for effective management of their reinsurance business, which will facilitate reinsurance premiums, commissions, claims, […]
IRDAI’s new rules for commission payouts may lead to better pricing
The insurance regulator has introduced new regulations on commission payments to intermediaries and expenses of management for general and health insurance companies. While the Payment […]
Medi Assist to acquire Raksha Insurance TPA in expansion push
Health insurance third-party administrator Medi Assist is set to acquire 100% stake in Raksha Insurance TPA in what could be the largest deal in third-party […]
Govt unlikely to roll back tax plan on high-value life insurance
The Indian government is unlikely to make changes to its budget proposal of taxing the total returns on high-value life insurance policies, two government officials […]
More insurance players, wider range of products key to achieve insurance for all goal by 2047:Irdai’s Debasish Panda
India needs more number of insurance players, much wider range of products and also more distribution partners to achieve the insurance for all goal by […]