How AI Will ‘Kick the Tires’ of Insurance Sales
The first impression of an 'insurance sales agent' brings up memories of pestering, red tape and frustrations. AI empowered insurance agents, on the other hand, are bringing about an image…
Electric Vehicles in India…Just Around the Corner
“Either do not attempt at all, or go through with it” said Ovid. “We should move towards alternative fuel…… If you do not make electric cars yourself, we will force…
DEDUCTION OF DEPRECIATION – A DECEPTION
The contract of insurance, unlike other civil contracts, is the contract of Indemnity, whereby in consideration of the premium, the insurer expressly undertakes and promises to pay or make good…
Mr. Pravin Kutumbe, Member (Finance & Investment)
Mr. Pravin Kutumbe assumed charge as Member (Finance & Investment) in Insurance Regulatory and Development Authority of India (IRDAI) on 12th March 2018. Prior to joining IRDAI, he was Executive…
Updated Rules for Insurance Repositories: Amendment to Guideline 34A Explained
Reference is drawn to the revised Guidelines of Insurance Repositories and electronic issuance of insurance policies dt. 29th May 2015. As per guideline No.34 A – other services, the IRs…
Avoid Compensation Hassles: Ensure Proper Vehicle Ownership Transfer After Sale
The Supreme Court has ruled that if the owner of the vehicle did not bother to change the ownership in registration records, he would be liable for compensation claims arising…
Delay No Excuse: Insurers Can’t Reject Claims Solely for Late Reporting
Insurers can't reject an insurance claim on grounds of delay alone. On 4 October, the Supreme Court ruled in favour of a truck owner whose truck was stolen in 2010.…
Early Death No Excuse: Insurance Companies Can’t Reject Claims Within 90 Days
The National Consumer Disputes Redressal Commission ( NCDRC) has ruled that an insurance company can't deny paying the insurance claim even if the policy holder dies within 90 days from…
Living wills not likely to affect insurance Claims
The recent Supreme Court ruling permitting a 'living will' that specifies that a person should be taken off life support if he or she slips into a vegetative state or…
Mr. Sujay Banarji, Member (Distribution)
Mr. Sujay Banarji assumed charge as Member (Distribution) in Insurance Regulatory and Development Authority of India on 1st March 2018. Mr. Sujay Banarji superannuated as General Manager and Director of…