Among the listed insurers, ICICI Prudential Life Insurance saw a 14.5 percent YoY decline in new premium to Rs 892.31 crore in August. HDFC Life Insurance saw a 44.7 percent YoY increase in new premium to Rs 1,903.96 crore, while SBI Life saw a 26 percent YoY growth to Rs 1,805.8 crore.
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As the Covid-19 pandemic has disrupted almost all sectors it has had it’s effects on the insurance industry, too. While India remains to be an under penetrated country when it comes to insurance coverage, life insurers did lose a good amount of business in the month of March as the pandemic had set in creating […]
Li Hao, deputy general manager of Ping An Health Insurance Company of China Ltd, said most of the medical insurance policies that promise 1 million yuan of settlement only have a one-year maturity. The newly introduced medical insurance addresses consumers’ demand for health protection for a longer term.
New Delhi, General insurer SBI General and private sector bank YES Bank have signed a Corporate Agency Agreement for the distribution of retail products of the insurance company for the bank’s corporate and retail customers.The products of SBI General Insurance Company will be offered to YES Bank’s customers across 28 states and 8 Union Territories.SBI […]
In this segment of BFSI Tech Tales, Rakesh Jain, ED & CEO, Reliance General Insurance (RGI) shares their technology strategy, cloud adoption, recent developments and initiatives amidst the pandemic. He also talks about their failure and learnings out of it and InsurTech tie-ups. Edited Excerpts:Tech Strategy & IdeationRGI believes technology is at the core of […]
With general models remaining the same, the panel of Insurance CEOs stressed over new learnings and outcomes that have emerged strongly with digital shifts; and where do businesses stand with re-invention. Along with this, the panelists also talked about the challenges insurance companies will have to face in the post pandemic world.Communicate, communicate and communicateVibha […]
MUMBAI: Mahindra Finance is set to enter the business of online insurance broking giving digital services to the customers of its insurance brokerage subsidiary, Mahindra Insurance Brokers, through a soon-to-be launched portal called PayBima.The move comes at a time when the demand for insurance products pertaining especially to health and life is at a high […]
The COVID-19 pandemic has pushed the insurance sector to phygital from physical. It can’t be denied that the lockdown paved the way for multiple innovations and opportunities for the sector that never existed before. However, to thrive and survive in this new landscape, insurers will have to take a structured approach to digital strategy and […]
She was introduced to her subjects and the advocacy group the Workers Defense Project after observing the workers plight in Texas, which outlaws most regulations aimed at protecting laborers. Business leaders in Texas tout its low cost in construction to attract investment but it comes while exploiting vulnerable workers, some with no immigration status, Hernandez […]