January 2024 - Insurance Times

As part of its digital transformation exercise, LIC is exploring the possibility of setting up a fintech unit. LIC has initiated a total digital transformation project DIVE (Digital Innovation and…

Introduction: Traditional methods and intricate procedures have long been associated with the life insurance industry. Modern product technology, however, has recently taken over the market and changed the way life…

The insurance industry, once rooted in tradition, finds itself at a pivotal juncture. As technological advancements surge and consumer demands evolve, a metamorphosis is underway. Traditional insurers, realizing the necessity…

The outlook of the insurance industry is undeniably intertwined with product innovation, customization, and streamlined claim settlement processes, all supported by digital advancements. This evolution is not merely a response…

1. It has been that large number of claims are repudiated because of discrepancy in physical address on value at risk in claim form. In many policies, the bank writes…

For nearly 10,000 years, humans have had a stable environment that allowed ‘unhindered’ progress. We are now in a situation, according to Christina Lu and Brawley Benson writing in Foreign Policy, whereby…

Private General insurers increased their combined market share to 53.58 per cent in gross direct premium underwritten in the first half of the current financial year from 50.81 per cent…

Public sector general insurers have lost market share again with aggressive private companies taking the competition to new levels. PSU insurers saw their combined market share declining to 31.99 per…

Over a decade since their debut, zero-depreciation policies have become the top choice for 95% of new car buyers. Often referred to as bumper to bumper coverage, they do not…

The total number of people killed in road crashes across the globe recorded a 5% reduction in 2021 compared to 2011 – from 1.25 million to 1.19 million, as per…