ICICI Lombard introduces ‘Photo Quote’ on mobile app
ICICI Lombard has introduced a "Photo Quote" feature on its mobile app "IL Insure". The feature is aimed at enhancing customers' purchase experience. Sanjeev S, Head (Marketing and…
Insurers are biggest source of funds for NBFCs: FSR
Insurance companies have been believed to be the largest source of funds for non-banking financial companies (NBFCs) as compared to scheduled commercial banks (SCBs), which were earlier their major…
TPA director should be MBBS graduate
The IRDAI in its exposure draft on third party administrator (TPA) has said that at least one of the director in a TPA should hold a minimum qualification of…
One claim per day settled under PM’s insurance schemes
A total of 31 death and accident claims were settled in the last 33 days under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana…
Research reactors not eligible for nuclear insurance pool
It has been recently revealed that the India's research reactors will not be covered under the newly setup nuclear insurance pool as they are owned by the union government. "The…
DD, AIR to publicize claim settlement of PM’s insurance schemes
The finance ministry is seeking wide publicity for the claim settlement procedures under the two insurance schemes announced by the Prime Minister in May. The idea is to highlight…
Govt ponders 100% FDI in insurance broking
The government is considering exempting insurance intermediaries, including brokers, from the FDI limit. The insurance regulator had at some point decided to apply the limits applicable to insurance firms…
Interview with Mr. Syed Siddiq, Head of Technical-Commercial for ANB Insurance (MetLife-AIG-ANB Cooperative Insurance Co), Saudi Arabia
Mr. Syed Siddiq is currently working as Head of Technical-commercial at MetLife AIC ANB Cooperative Insurance Company in Saudi Arabia. This is his 16th year in the insurance industry…
Foreign stakes in insurers’ parent not to count for FDI
The finance ministry clarified the doubts on the fact that the foreign shareholding in parent companies of insurance ventures would not be counted as overseas ownership for computation of…
India nuclear insurance pool with 1500 cr capacity formed
General Insurance Corporation of India (GIC Re) and 11 other non-life insurers have formed the India Nuclear Insurance Pool. It will have a capacity of Rs 1,500 crore. New…