Insurance Industry Analysis
Overall Performance 1. Gross Direct Premium (Within India): The gross premium grew by 76%, from Rs.2,56,894 crore in 2022-23 to Rs.2,89,683 crore in 2023-24. Public sector insurers showed modest growth at 88%,…
IT Editorial December 2024
As The Insurance Times proudly enters its 45th year, we reflect on the journey that has made this publication an enduring voice of the Indian insurance industry. Over the decades,…
Magma HDI Partners with Mahindra Finance to Enhance Insurance Accessibility
Magma HDI General Insurance has entered into a corporate agency agreement with Mahindra Finance, a leading non-banking financial company (NBFC), to offer a wide range of general insurance products. This…
How Do Insurance Companies Make Money and How Do They Work?
Insurance is a financial safety net that protects individuals and businesses from unforeseen risks and liabilities. While insurance companies offer this valuable service, many people wonder, how do insurance companies…
MOTOR SEGMENT: A GAME CHANGER FOR THE NON LIFE INSURANCE INDUSTRY
The core of the motor insurance business, which is accident risk, is clearly at risk. Motor Insurance 2.0, a joint report by The Boston Consulting Group and Morgan Stanley, written…
Why Insurance is Important for Financial Security
In today’s unpredictable world, securing your financial future is more critical than ever. One of the most effective ways to do this is through insurance. Whether it's safeguarding your health,…
Zuno General Insurance Launches Usage Based Insurance Policy For Motor Vehicles In India
General Insurance company Zuno (Formerly known as Edelweiss) announced the launch of new add-on offering for their motor insurance products during a press event in Mumbai today. The new feature…
AU Small Finance Bank Partners with United India Insurance to Offer Comprehensive Insurance Solutions
A Strategic Partnership to Bring Comprehensive Insurance Solutions Nationwide AU Small Finance Bank (AU SFB), India’s largest small finance bank, has entered into a strategic partnership with United India Insurance…
“GST” IMPACT ON THE INSURANCE INDUSTRY
Mr Jagendra Kumar is currently the Corporate Head (Training) at Shriram General Insurance Company. Mr Kumar is a prolific writer and has wide experience in the general insurance industry. Before…
INSURERS SHOULD NOT ESCAPE FROM THE COMPENSATION TO MOTOR ACCIDENT VICTIMS
While loss of life in a motor accident cannot be recovered, it becomes obligatory on the part of all of us to minimize the miseries of the family that loses…