March 2021 - Insurance Times

India’s life and non-life insurance penetration in 2019, at 2.82% and 0.94% respectively, are significantly lower than the global averages of 3.35% and 3.88%, respectively. Five years after India increased…

Pockets of digital transformation were happening across the insurance industry pre-2020, but they were isolated and not synced across insurers’ operations. The events of this year have concentrated years of…

Introduction In the last couple of years, Government of India has taken several initiatives to increase the insurance penetration and density in the country. Some of the major initiatives include,…

Technology has led to many positive changes around us and insurance industry is not staying behind in making the most of the technology to improve their functioning and services to…

The FDI hike in the budget announcement is expected to bring good inflow of FDI in the insurance market in India. The overseas partners would like to increase their stake…

LIC's Bima Jyoti is a Non-Linked, Non-Participating, Individual, Savings Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of…

A. Role and responsibilities of General Insurance Surveyor 1. Assessing the loss after proper investigation 2. Redressal of conflict of interest 3. Maintaining confidentiality and neutrality 4. Thoroughness in data…

Justice for insurance claimants takes a long time coming ever after winning an award from the ombudsman. A response to an activist's query under the Right to Information (RTI) Act…

Mega claims following movie production cancellations and delay in releases last year have burnt insurance companies. But a renewed demand for film insurance could see the industry's annual premiums grow…

Reference is invited to the provisions of Chapter III of Consolidated Guidelines on Product filing in Health Insurance Business (Ref No: IRDAI/HLT/REG/CIR/194/07/2020 dated 22nd July, 2020 (the guidelines) specifying the…