LIC has come up with an attractive offer for revival of lapsed...
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Govt probes insurers paying excessive distribution commissions without growing business
The Department of Financial services (DFS) has sent letters to...
RBI faults Indian insurers’ high-cost distribution strategies
Premium growth in the Indian insurance industry has been...
FM Sitharaman lays foundation for offices of 15 PSU banks, insurance companies in Amaravati
Sitharaman described the gathering of all major PSU banks and insurance companies on one financial street as a historic first for any state capital in India Amaravati:Union Finance Minister Nirmala Sitharaman and Andhra Pradesh Chief Minister Chandrababu Naidu on...
Life Insurance:Driving Product Innovation and Long-Term Sustainability
Along with changing customer needs, expanded datasets and increasing digitisation, the specialized skillset of actuaries is also paving the way for new age personalised and embedded products. Enabled by modern techniques, including machine learning and predictive...
Individual NBP for life insurance growth estimated at 9 pc in FY2026: Icra
"The GST exemption on individual life insurance policies, which enhances customer affordability, is expected to boost individual NBP growth in the medium term. After a subdued H1, this NBP growth is projected to recover in H2 FY2026, with an overall increase of about...
“When in doubt, choose the customer” IRDAI chief asks insurers
“Compliance cannot be a department— it must be a mind-set. And grievance redressal cannot be the end of a process— it must be our early warning system. When in doubt, choose the customer. If we do that consistently, trust will follow, growth will follow, and the...
Sitharman meets trade unions for pre-budgetary consultations
The unions demanded that the government must withdraw the proposal permitting 100% FDI in the insurance sector and stop the privatisation of Life Insurance Corporation and the four PSU general insurance companies New Delhi: Finance Minister Nirmala Sitharaman has met...
Kotak Life’s assets under management crosses Rs 1 lakh crore in 25 yrs
Mahesh Balasubramanian, managing director, Kotak Life With a conservation ratio of 86.26%, Kotak Life demonstrates strong customer retention and long-term engagement Mumbai: Kotak Mahindra Life Insurance Company Limited (Kotak Life) has achieved a landmark milestone,...
Bima Gram API to strengthen rural coverage, says insurance industry
The Bima Gram API maps postal PIN codes to Local Government Directory (LGD) codes, creating a unified, verifiable database for rural identification. Through the Bima Gram API, insurers can now simply enter a customer’s postal PIN code to retrieve the corresponding...
Govt to table Bill to hike FDI in insurance sector to 100% in Winter session of Parliament
A bill seeking to open up the civil nuclear sector for private players, which will have implications for the industry, is among the 10 new proposed legislations listed by the government for introduction in the winter session of Parliament, beginning December 1. New...
8 officials selected for Insurance Ombudsmen
Those who have been selected by a government appointed panel are- Mukhmeet Singh for New Delhi, Rajiv Talwar for Noida, Rachna Khare, Pune, Pranai Prabhakar, for Ahmedabad, Sanjai Singh, for Lucknow, Manju Bagga, for Kolkata, Rashmi Ranjan Singh for Bhubaneswar,...
Customers want both Gen AI efficiency and human empathy, finds new Geneva Association report
While people welcome Gen AI’s convenience and possibilities for personalisation, they remain concerned about data privacy, accuracy, and maintaining access to human support. ZURICH: Generative AI (Gen AI) is transforming how insurance customers interact with their...