In a regulatory filing, LIC said the board has cleared the proposal...
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PK Arora, Member, Actuary, IRDAI gets 2-yr extension
Pramod Kumar Arora, member, Actuary, IRDAI Though, the...
Payout by life insurers moderates in FY23 compared to previous year
The benefits paid on account of surrenders/withdrawals increased by...
Life insurance vs Health insurance
Health insurance policies and life insurance policies are completely different from one another. They have different coverage benefits, pay different types of claims, have different premiums and also fulfil different financial needs of individuals.
IRDAI Board to meet on Dec 21, may allow new players
Some well known names like Paytm and Indiabulls group and a few other companies, backed by Private Equity Funds, have already applied for licenses some time ago, to float life , general and exclusive health insurance companies to the IRDAI.
AM Best revises 2019 Global Reinsurance Outlook to Stable
OLDWICK, N.J: AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019, citing factors stemming from a growing alignment between traditional and third-party capital among non-life reinsurers. A more-stabilized...
Actuaries face uncertainty amid encroachment by Data Scientists
Seasoned actuaries often earn more than $200,000, and the field perennially ranks near the top of “best career” surveys. A Bankrate.com survey from this summer called actuarial science the most valuable bachelor’s degree based on pay and employment. However, industry conventions are rife with warnings that data scientists are encroaching on actuaries’ turf, and that their lack of speaking skills keeps them locked in bookish roles at insurers.
Early diagnosis of disease to drive future life expectancy, Swiss Re
Digital health tools like telemedicine and wearables can play an important role in driving future mortality improvement. These technologies not only improve access to care but also encourage healthcare markets to compete for lower, more affordable options.
IRDAI proposes changes in registration norms for insurance marketing firms
IRDAI has also proposed expansion of the basket of products which can be solicited or procured by an IMF to include group insurance products for Micro Small and Medium Enterprises (MSMEs), crop insurance for non-loanee farmers and combi products
G Srinivasan appointed as director of Pune based NIA
Srinivasan had retired from New India Assurance, the largest Indian general insurer, in July end after heading company during 2013-2018 and likely to take over in Jan 2019. NIA is dedicated to Management Development Programmes catering to the insurance industry professionals to enhance the management skills and do main expertise and has now two year Post Graduate Diploma in Management course to fulfill the growing demand of skilled professionals in Insurance and Risk Management.
LIC’s total valuation surplus at Rs 48,445 cr, up 10 % in 2017-18
The life insurance behemoth had an annual income of Rs 5.23 lakh crore and achieved the highest ever first Year premium income of Rs 1,34,551.68 crore in FY 2017-2018 and now manages assets worth more than Rs 28.45 lakh crore
India Inc increasing focus on employees’ emotional and financial wellbeing:Willis Towers Watson
The study found that in 2018, over 80% of the organisations have taken at least one action in the following areas – health risks or condition management; weight management, physical activity and nutrition; and, managing employee stress and mental health. While 61% have taken at least one action to improve the financial wellbeing of employees in 2018, it is a concern that almost half of the surveyed organisations still do not have a formally articulated health and wellbeing strategy.
LIC’s Global Call
We have to make LIC , a global financial conglomerate!! LIC has achieved a cult status as far as life insurance is concerned. Now I dream of a day when LIC of india will acquire a similar status as a conglomerate. This is my ultimate vision for LIC @ 75… A place where all kinds of people, with all kind of needs and in all kinds of places: are served under just one roof…that of LIC of india…and they need not go anywhere else, ever!!!