Page 24 - Insurance
Health insurance TPA to begin operations from next fiscal
After it becomes operational, 8-10% of claims now being handled by external agencies will be processed by the new body
 "Health insurance TPA to begin operations from next fiscal")
Banks keen to tie up with multiple insurers
According to corporate agency rules, banks can tie up with up to three life, three non-life and three standalone health insurers to sell their insurance products
 "Banks keen to tie up with multiple insurers")
Insurance questions
Far-reaching changes afoot in a vital sector
Non-life insurers offer cover against loans
An array of products are available in the market to ffer covers against unemployment, personal accident that could impact the loantaker's ability to repay the loans
 "Non-life insurers offer cover against loans")
PM's Jan Suraksha schemes suffer from fraudulent claims
According to data available, of the 25,398 claims filed so far, 800 were rejected for fraud
Bajaj Allianz Life launches Principal Gain, a Ulip with assured returns
Its plan offers 101% of the premiums paid as returns and offers a guaranteed loyalty addition if one chooses to be invested till maturity period
 "Bajaj Allianz Life launches Principal Gain, a Ulip with assured returns")
Organised crime touches new high in insurance
Gangs have been operational in the insurance space for a long time
 "Organised crime touches new high in insurance")
Birla Sun Life moves to cluster method to get better sales, higher persistency
Company sets up innovation lab to bring better solutions
 "Birla Sun Life moves to cluster method to get better sales, higher persistency")
Why life insurers reject accident claims citing breach of law
General and life insurers may view accident claims differently because of the difference in product structures
 "Why life insurers reject accident claims citing breach of law")
E-policies made compulsory for most categories
In some cases, like motor insurance, the government needs to first recognise these
 "E-policies made compulsory for most categories")
Insurers can speed up products for corporate clients
This is on the back of IRDAI decision to help general insurers to sell products under use-and-file procedures
 "Insurers can speed up products for corporate clients")
GSC Bank to sell insurance through agri cooperative societies
The scheduled bank is targeting to sell over 1,00,000 policies in the first year of launching
Irdai on use-and-file products
Use-and-file is a procedure where the insurer is permitted to market the product without prior noting of IRDAI
 "Irdai on use-and-file products")
Corporate agents may enter into new tie-ups in FY17 with IRDAI nudge
IRDAI has asked banks, corporate agents to have board-approved policy on open architecture
 "Corporate agents may enter into new tie-ups in FY17 with IRDAI nudge")
