More than 50% vehicles not insured: Govt
More than 50% of vehicles on Indian roads are operating without the mandatory thirdparty insurance. This was disclosed by the government in response to a Parliament query. Minister of state…
Motor insurance rides on vehicle sales to close in on health
Motor insurance premiums, riding on higher vehicle sales and repricing of third-party premiums, have compensated for the normalisation of growth in the health segment. This comes despite health insurance premiums…
PhonePe launches a new brand campaign on motor insurance renewals
PhonePe, India’s leading digital payments platform today announced the launch of its integrated multimedia brand campaign focused on tension-free motor insurance renewals. This pan-India campaign will be launched in a…
IRDAI permits sophisticated add-ons to motor insurance
IRDAI has permitted general insurance companies to introduce tech-enabled concepts for the Motor Own Damage (OD) cover in order to offer customers usage-based insurance covers as add-ons to the basic…
Pay motor insurance premium on drivers behavior
Insurance companies will soon offer vehicle owners analytics-based insurance that include ‘pay as you drive’ policies and covers where the premium varies according to driving behaviour. Companies have also been…
Third-party motor insurance premium hiked w.e.f June 1: Check electric vehicle premium rates
The Centre approved the revised base premium rates for third-party motor vehicle insurance on Wednesday. From June 1, 2022, these new rates will come into effect. These rates were last…
Motor insurance in Asia-Pacific to reach $294.2bn in 2025, forecasts GlobalData
The motor insurance industry in Asia-Pacific (APAC) is projected to grow from $226.0bn in 2020 to $294.2bn in 2025, in terms of written premiums, according to GlobalData, a leading data, and…
Edelweiss General Insurance and PhonePe come together to offer digital motor insurance
Edelweiss General Insurance (EGI), one of India’s fastest growing InsurTechs, has partnered with PhonePe, a market leader in the digital payments space, to offer quick and easy, digital motor insurance…
Slowdown in motor insurance to drag down Malaysian general insurers growth in 2021, says GlobalData
Malaysian general insurers’ growth is expected to slow down in 2021 due to decline in vehicle sales and motor insurance due to halt in production driven by global automobile chip…
Liberty General Insurance partners with PhonePe to offer Motor Insurance
Liberty General Insurance Ltd, one of the leading general insurance companies in India, strengthened its partnership with PhonePe to offer motor insurance digitally. Through PhonePe, Liberty General Insurance’s motor insurance…