Crop insurance schemes, no major development
The CSE report says insurance companies had benefited by a cumulative Rs 10,000 crores in profit as on April, due to low claims reported in relation to the premium charged. The gross…
Indian insurance still has to go a long way in terms of digitisation
Digitisation globally has become an integral part of the corporate culture and insurance companies are no different, but the Indian insurance firms are lagging behind as per a report. .…
BDO advises urgent assessment of cyber risk and warns against ‘one size fits all’ cyber insurance
BDO advises urgent assessment of cyber risk and warns against ‘one size fits all’ cyber insurance Cyber risk is becoming increasingly diverse. Ransomware has become now the fifth most…
“Expectations from Union Budget 2017-18 for the Insurance Sector”
Introduction In the last two years, Government has taken a number of new initiatives,like increase in FDI limit, accidental insurance benefits to Jan Dhan Accounts, insurance at a cheaper price…
Digitisation increases customer base of Max Life’s
The proportion of customers using digital channels to buy insurance from Max Life Insurance Co. Ltd was less than 5%, not less than prior 18 months ago. “That was around…
Over-regulation blamed for underwriting losses
Recently, as the Finance Ministry warns the PSUs for huge underwriting losses and their dependence on investment income for profits, a report co-authored by a former Member of the Insurance…
India capital among other 28 cities/towns vulnerable to earthquake
According to the National Centre for Seismology (NCS), 29 Indian cities and towns fall under “severe” to “very severe” seismic zones. The Bureau of Indian Standards (BIS) has classified different…
Weeding out of Crop insurance scheme flaws and private companies windfall
From Agro Insurance, the Insurance companies have collected premiums totalling around Rs. 22,345 crores and paid out claims worth just Rs. 5,876 crores to farmers under the Pradhan Mantri Fasal…
Raheja QBE launches its first comprehensive Health Insurance Product
Raheja QBE has launched its first health Insurance product to provide a solution to high medical inflation and fill a need in the market for comprehensive health insurance. As…
LIC’s books profit of Rs. 6,100 cr in Q1
Life Insurance Corporation of India has booked profits of over Rs 6,100 crores from equity markets the first quarter of 2017, as compared to Rs 2,489 crores in same period…