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6 out of 7 Unicorns in India’s InsurTech domain are dedicated to the B2C sector: Report
Digital India mission and standardization of India’s tech stack...
India Inc not in the crosshairs for now from Middle East conflict: Crisil
Some sectors such as fertilisers and diamonds -- both cut and...
IMD working to give forecast on thunderstorms 6-12 hours in advance
M Rajeevan from the Ministry of Earth Sciences said this year the IMD plans to have Standard Operating Procedures (SOPs) in place for dealing with thunderstorms instances and it will be working more closely with the National Diaster Management Authority (NMDA). Sending early warnings to states will give them more time to respond, he said, adding the system should be in place by April.
169 complaints of sexual harassment at workplace in private industries: WCD Ministry
Against the backdrop of the “MeToo” campaign, the WCD Ministry had last month linked the online portal to report complaints of sexual harassment at workplace, to all the central ministries, departments and 653 districts across 33 states and Union territories.
New life premium mop-up inches up 2.41% in December
The state-run behemoth LIC led both in new business premium collection with a 66.49 percent market share and also new business by policies with a 73.33 percent share of the pie
LIC loses over 2 % market share to pvt players in 2017-18
For the Indian life insurance industry,while renewal premium accounted for 57.68 percent (58.13 percent in previous year) of the total premium received by the life insurers, new business premium contributed the remaining 42.32 percent (41.87 percent in previous year).
Surrender of life insurance policies rise in 2017-18, IRDAI
The life industry paid benefits of Rs 277953.63 crore in 2017-18 (`Rs 236339.87 crore in 2016-17) constitutes 60.58 percent of the gross premium underwritten (56.48 percent in 2016-17).
Insurance Penetration and Density are on a slow recovery path in India
The life insurance industry’s penetration has seen a slight increase in 2015 reaching 2.72 percent, remained same in 2016 and increased to 2.76 in the year 2017. The penetration of non-life insurance sector in the country has gone up from 0.56 in 2001 to 0.93 in 2017(0.77 in 2016).
Bengal pulls out of Ayushman Bharat
Ayushman Bharat scheme in West Bengal was merged with Mamata’ Swasthya Sathi health scheme, where the state government provides for 40 percent of the total cost.
Joseph Panel suggests measures to accord chartered institute status on IIISLA
There is a need to work with all the members of the IIISLA in a coherent manner to design a well-laid governance system to carry out the objects of its present Articles of Association and gain credibility, essentially required for the institute as well as for the profession of survey and loss assessment, suggest the report.
The total amount of domestic insurance claims paid (excluding health segment) has grown by 5.6% and 16.7% over the last two years. The growing volumes of non-life business and the increasing number of claims demand existence of qualified professional surveyors to examine, measure, assess the losses and report to insurers for speedy settlement of claims.
Crop insurance as ‘big’ a scam as Rafale: Uddhav Thackeray
“People have got cheques of Rs 2, Rs 5, Rs 50, Rs 100. Allegations are being made that there is a scam of thousands of crores in the crop insurance scheme,” he said
3 out of 9 foreign reinsurers in India record a net profit of Rs 70 cr in 2017-18
The IRDAI , in view of the recent developments in the reinsurance scenario in the country, has carried out a comprehensive review of the extant reinsurance framework in concurrence with the dynamic needs of the industry. The new architecture will strive to act as a catalyst in India’s journey to establish as a global reinsurance hub, in near future.