Insurance Products

Banks have been advised to ensure '100 per cent' compliance of know your customer (KYC) guidelines while sourcing insurance business

Demand for health and motor insurance to continue though growth may dip, say experts

The obligatory cession was reduced from 5 per cent to 4 per cent for FY23. The impact of the reduction on GIC Re would be around Rs 2,000 crore

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

New online distribution models such as B2C, B2B and B2B2C are key drivers of growth, with B2C in particular, gaining significant opportunities.

The regulator has now asked for inputs from stakeholders on recommendations of the working group by May 31, 2021

It's a significant preparatory step for the initial public offering of the country's largest insurer

In 2018-19, banks received more than 12,000 mis-selling complaints; brokers close to 11,000. The number was even higher in FY18.

Firm says users don't need to upload documents before making a purchase and they can view their policy documents instantly

Renewal subject to insurer's underwriting policy, must be done before expiry of existing policy contract

The feature needs customer mandates for these recurring payments to be made. Mandates can be set up with a frequency of user's choice such as daily weekly, monthly or annually

Standalone private health insurers reported an impressive 42 per cent growth in premiums in June, and 15 per cent growth for the quarter

It also noted that drones are playing a significant role in the current Covid-19 situation, assisting various authorities in several activities

Market leader LIC's new business premium down 32% to Rs 3,582 cr from Rs 5,268 cr a year ago; HDFC Life, ICICI Pru among top losers in private space

With customers caught in a swirl of panic and fear, life insurance companies are looking at confidence building measures for a post Covid-19 world

The association will provide the bank's customers access to the insurer's portfolio and make insurance more accessible to its customers across India

Kumar's case is not isolated, and public sector banks aren't the only ones to blame. Private sector banks are no better