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Indian insurance penetration remains flat at 3.14 pc in 2016

Jan 5, 2018

During the first decade of insurance sector liberalisation, the sector had reported consistent increase in insurance penetration from 2.71 percent in 2001 to 5.20 percent in 2009. Since then the level of penetration was declining till 2014.

Life insurance industry witneses 12 pc jump in  surrenders/withdrawals of policies in 2016-17

Jan 5, 2018

According the latest annual report by the IRDAI, the benefits paid during 2016-17 on account of surrenders / withdrawals increased by more than 12  per cent and stood at Rs 90005.41 crore, of which the state owned Life Insurance Corporation accounted for Rs 44924.56 crore and private sector Rs 45080.85 crore.The comparative previous year statistics were Rs 80333.74 crore, of which LIC accounted for Rs 37504.33 crore and private sector paid Rs 42829.41crore

Digital economy: Parliamentary panel suggests govt to form law on data privacy

Jan 4, 2018

Committee also found it “rather disconcerting” that even as the country moves towards a digital economy, transactional hassles and grievances of users, including ATM frauds such as cloning, have also been increasing manifold. Ordinary customers are then left high and dry, extremely helpless and clueless about the next course of action for a remedy and redressal of grievance,” the report said. 

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