Page 22 - Insurance

Total premium of insurance industry to reach Rs 26 trillion by 2020: CII-KPMG report

The report said that the country is yet to traverse the path of insurance distribution through the extensive use of digital channels

Insurers ask ministry for motor third party claim filing

Since losses in motor insurance have continued to rise, non-life insurers sought relief from ministry

Insurance may fall under 12% tax slab in new tax regime

At present, apart from the 14% service tax, Krishi Kalyan cess & Swachh Bharat cess are also applicable, taking the total service tax applicable on insurance products to 15%

Insurers offer need-based policy

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products

Insurers play the fitness card

ICICI Lombard and Cigna TTK tap into the growing desire for wellness among consumers as they look to build brand loyalty

Ensure safety of policies with e-account

While your insurer will help you open an e-insurance account at the time of buying a policy, existing policyholders must do so themselves

Insurers turn wary of Indian equities

In August, insurers sold stocks worth about $1 billion, while MFs purchased stocks worth $284 million

Insurers to file compliance to investment norms from March 2017

Circulars and guidelines issued prior to notification of 2016 regulations, are based on the Insurance Act, 1938

Pvt life insurance companies register 13% growth in APE in July

According to a report by Kotak Institutional Equities, Bajaj Life Insurance, ICICI Prudential Life and SBI Life have delivered more than 10% growth

Policy sales through CSCs still low

Insurers say mere collection and remittance of premium itself costs more money than allowed by the regulator

After new norms, FDI flow at Rs 16k cr: Irdai chief

This, after the FDI limit has been raised to 49% from existing 26%

Getting emotional about investments will hurt

Many smart investors are unable to admit that their investment decisions may have gone wrong

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

Train passengers to avail insurance cover for premium of Re 1

The scheme offers travellers or their families compensation of up to Rs 10 lakh in the event of death or permanent total disability

Insuring consumer trust with tech

With increased digitisation and new tools, insurance companies are assessing markets in greater depth while placing the customer at the centre

Insurance intermediaries join the brand game

With smartly targeted marketing campaigns Coverfox, Policybazaar look to win customers over

Private players struggle to catch up with LIC in group business

A conservative investment approach and stranglehold on public sector business have allowed the state giant to stay far ahead in this segment

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

Treatment at home can be 20-30% cheaper

However, insurance might not be available in all cases

Combi plans for those with no cover

Life-cum-health plans don't allow customisation. Separate term, health plans can provide higher coverage