MANAGING CUSTOMER EXPECTATION- IN COMPETITIVE SCENARIO
Abstract The face of customers of the General Insurance industry in India has been changing .The customers are no longer diminutive nor mute spectators of the yore. They are demanding…
FRAUDS IN HEALTH INSURANCE
It is interesting to note some facts about frauds in Health Insurance industry in India and globally: A survey conducted by one of the leading Third Party Administrators, showed that…
IRDAI Clarifies TPA Regulations
Reference is invited to the provisions of IRDAI (Third Party Administrators - Health Services) Regulations, 2016. Under the powers vested with Regulation (27) of these Regulations, the following clarifications are…
Are Recent Health Insurance Product Innovations Necessarily Good?
Introduction Health insurance business, is today perhaps the most rapidly growing segment in the Indian non- life insurance market, possibly after crop insurance. The reasons are many; foremost being rising…
Pradhan Mantri Jan Arogya Abhiyan: Issues and Benefits
I. Introduction Insurance provides protection against risks or uncertain events and is based on the principle that what is highly unpredictable to an individual is predictable to a group of…
LIC Targets Growth in Health Insurance, Projects Higher FY25 New-Business Margin
Life Insurance Corporation of India (LIC), the country’s largest insurer, has outlined an ambitious growth strategy for the upcoming fiscal year. LIC has projected a 2%-3% increase in its value…
Third Party Administrator (TPA)- Need to Strengthen the Pillars of Health Insurance Claims Management
Introduction The liberalization of the Insurance sector and formation of Insurance and Development authority of India in 2000 has completely transformed the Indian Insurance Industry in the last two decades.…
GST on Health & Life Insurance Generates Rs 21,000 Crore in Three Years
Significant Revenue Collection The government informed Parliament that GST on health and life insurance brought in Rs 21,256 crore over the last three financial years, with Rs 8,263 crore collected…
SBI General Insurance: Reduction in Wait Time for Pre-Existing Diseases to Increase Costs
Premium Increase Expected SBI General Insurance's Chief Business Officer, Rakesh Kaul, announced that IRDAI's decision to reduce the waiting period for pre-existing diseases in health insurance from four years to…
Four Innovative Insurance Products Launched by New India Assurance on its 106th Foundation Day
On its 106th Foundation Day, New India Assurance, a leader in the non-life insurance sector, unveiled four innovative long-term insurance products across health, motor, and property segments. These new offerings…