Page 23 - Insurance

Open architecture of bancassurance now a reality in insurance

This, especially after LIC signed an agreement with Axis Bank as its bancassurance partner last week

Canara HSBC OBC Life launches iNVESTSHIELD plan

The plan has a 'premium funding' option where in the event of life insured's death, apart from benefit payout, insurer funds remaining premiums for the term

ICICI Lombard announces private placement of subordinated debt

Raises Rs 485 cr via 10-year NCDs, at an interest rate of 8.25%

Settling death claims to become faster

Certain insurers have set up a process of paying interest if claims are not addressed within the minimum guarantee period

An insurance pool to cover natural disasters?

Losses likely to be high this financial year, due to a spate of floods across north and east India

LIC-Axis Bank tie-up for bank to sell insurance products

Creates one of the largest Bancassurance partnerships in India

LIC signs up Axis Bank as bancassurance partner

In preliminary phase, bank will distribute LIC's life insurance products across its branches

Health insurance pricing freed after 3-yr lock-in

The regulator has said that after three years, the premium can be revised by the insurer depending on the experience

Life insurers infra investments up, equity assets down in FY16

Industry officials said this was on account of insurers primarily using bank branch networks to sell policies, apart from using other platforms like web aggregators and insurance marketing firms

Tata AIG launches travel insurance for Axis Bank customers

Happy Holidays Package offers multiple travel benefits to globetrotters

IRCTC to offer personal accident cover for train travel

Starting September, those booking tickets through the IRCTC website can avail of a travel accident cover for premium as low as Rs 2 for cover of Rs 10 lakh

IRDAI lays norms on cessions to GIC Re based on product segment

With respect to fire, industrial all risks large risks, limit of cession in sum insured is Rs 750 cr sum insured per risk

Mandatory Ulip fund investment proposal may be dropped

Proposal to make it mandatory for life insurers to invest at least 25% of Ulip funds in G-Secs may be dropped

Demand for higher fee by banks to hit profits: ICICI PruLife

Opening up of bancassurance network has been viewed as a mixed bag by sector

Jan Suraksha schemes cross 129 million enrolments

Majority of the policies (95.7 million) that were sold under the Yojana were personal accident policies

ICICI Pru Life IPO signals jump in valuations

While its valuation stood at Rs 32,500 cr in November 2015, it is now commanding Rs 45,000-50,000 cr with the public offer

ICICI Prudential Life files papers for public offer

ICICI Prudential Life Insurance Company aims to raise Rs 5,000 cr via the IPO, the first by an insurer in India and the biggest in six years

Insurers use analytics to detect fraud, cross-sell products

Data from life insurers show there is at least a 20 per cent rise year-on-year in fraudulent claims, including claims in the name of people who do not exist

PFRDA launches new features for NPS subscribers

Now, NPS subscribers can view his/her NPS account, latest details of scheme wise units along with latest NAV and the total value of the schemes

United India looks at listing

Sources say disinvestment would be somewhere below 10%