Page 77 - Insurance
High-end cars to drive motor insurance in 2014: ICICI Lombard
Motor insurance space saw a 12% rise in liability premium and nominal growth in the two-wheeler segment
 "High-end cars to drive motor insurance in 2014: ICICI Lombard")
Non-life insurers see 13.1% growth in total premiums for April-Nov
Private general insurers collected total premiums of Rs 22,132.70 crore
 "Non-life insurers see 13.1% growth in total premiums for April-Nov")
Edelweiss Tokio launches two new products
Both these plans aim to address wealth accumulation needs of a customer
Passage of Insurance Bill remains an unfulfilled dream this year
Govt had introduced the Bill in the RS in Dec 2008 to improve and revise laws relating to the sector in the wake of private participation
 "Passage of Insurance Bill remains an unfulfilled dream this year")
Religare Health launches critical illness & accident product
Company says assure offers a sum insured of up to Rs 1 crore, the highest among currently available critical illness products
 "Religare Health launches critical illness & accident product")
Future Retail-IITL life insurance deal gets regulatory nod
Future Retail can now sell 22.5% stake in Future Generali India Life Insurance
 "Future Retail-IITL life insurance deal gets regulatory nod")
Insurers cautious on venturing into use-and-file regime
Currently, Irda follows the file-and-use route, under which all products have to be filed with the regulator before being launched in the market
 "Insurers cautious on venturing into use-and-file regime")
Use-and-file regime may not come soon
Insurers say there is uncertainity over the rules
 "Use-and-file regime may not come soon")
External TPAs to stay awhile for state general insurers
Health Insurance TPA of India is expected to begin doing business by April 1, 2014
 "External TPAs to stay awhile for state general insurers")
Insurance is based on statistics, data analytics: Irda
Irda chief raises many insurance companies do have essential data 'but have little respect for it'
 "Insurance is based on statistics, data analytics: Irda")
IRDA asks Reliance Life to tighten anti-money laundering norms
RLIC has over 80,000 advisers and over 8,000 outlets across India
 "IRDA asks Reliance Life to tighten anti-money laundering norms")
RelianceLife proprietary channel hiring to grow by 20% in FY15
Insurance firm has already hired over 2,000 people under its proprietary channels in the past 1 year
 "RelianceLife proprietary channel hiring to grow by 20% in FY15")
SBI Life launches Flexi Smart Plus
The product is designed to protect and cater to the savings needs of multiple customer segments with low risk appetite
Insurers want mandatory term cover for salaried class
Making insurance mandatory would be beneficial not only from insurance perspective but from a customer perspective also
 "Insurers want mandatory term cover for salaried class")
Bundled insurance products find takers
Insurance executives said that as long as an option is given to a customer, there is no issue
LIC kicks off customer campaign to buy insurance before Jan 1
In the new product regime, LIC has brought about changes in surrender charges and product structure of traditional policies
 "LIC kicks off customer campaign to buy insurance before Jan 1")
LIC to close its existing policies in confimation to new guidelines
34 plans are available for sale upto 31st December 2013
Aegon Religare Life Insurance bets big on online insurance
Launches online guaranteed insurance plan
Standard protocol needed for affordable insurance products:Irda
Says there is a need for introducing short term products at affordable prices in a continuous manner
