Rejections of insurance claims for antibody cocktail rise
Even as the number of Covid-19 cases witness a steep rise in the wake of the new variant Omicron, there has been a steady rise in demand for monoclonal antibody…
Tata AIG to vie for group’s airline insurance business
Tata AIG General Insurance Company, will join the race to provide insurance cover for the Indian conglomerate's airlines, including Air India. Indian state-owned companies presently provide insurance cover to the…
Insurance cover likely for traders under new policy
The Department for Promotion of Industry and Internal Trade (DPIIT) will soon start public consultation for a national retail trade policy, which is likely to include an insurance scheme aimed…
Govt adds insurance experts to Banks Board Bureau
The government has appointed insurance experts to the Banks Board Bureau to help select and appoint directors on the boards of public sector insurance companies for a two-year term. The…
52% of UK consumers who buy income protection insurance do so because of COVID-19, says GlobalData
According to findings from GlobalData’s 2020–21 UK Insurance Consumer Surveys, 52% of UK consumers in 2021, compared to 37.4% in 2020, stated that their decision to buy income protection insurance…
Blockchain-based Insurance Claims to Exceed $10 Billion in Cost Savings by 2024, as Stakeholders Benefit from Process Efficiencies
A new report from Juniper Research has found that blockchain-based insurance will transform claims administration; saving $10 billion in costs globally by 2024, up from $1.1 billion in 2021. Insurance providers will…
Shriram Group to merge fin biz, spin off insurance
Shriram group has announced a consolidation exercise that will create India's largest retail financing NBFC. The Chennai-headquartered group said that the boards of its group companies have cleared a restructuring…
E-insurance scams on rise
Insurance loan scams are growing, thanks to the compounding effect of cybercrime. More cases have come to light since the D B Marg police in October arrested four persons for…
82% of insurance buyers prefer physical copies of policy documents
The insurance penetration has seen a spike in recent times and over 80 per cent of the insurers prefer a physical copy of their insurance document, according to a recent…
Shriram Group closing in on merger, insurance biz to be hived off into separate entity
Shriram Group has revived plans to restructure its various financial services businesses that includes lending and insurance by collapsing its two listed units into one and reverse merging the holding…