Insurance Industry

Extent of these reductions varies from one insurer to another, with sources indicating that some companies may have introduced subtle changes, trimming incentive-linked bonuses rather than headline commission rates

Without open architecture, harder to build sustainable career in insurance: Go Digit's Kamesh Goyal

Health insurance is going through a phase of structural stress—both for customers and insurers, says Goyal

Private insurers surge ahead as public sector struggles; ICRA projects Rs 3.6 lakh crore premiums by FY27

The divergence in financial health, market expansion and profitability metrics underscores a widening gap in sector dynamics, an ICRA report says

Max Life Insurance to expand its presence in 100 more cities this year

Max Life Insurance is planning to add 1,000 more employees this year and through its increased presence, go deeper into rural markets, says MD & CEO, Prashant Tripathy

I-T department uncovers evasion of Rs 15,000 crore by insurance companies

The commission paid by insurers to agents came under scanner after the GST authorities had informed the regulator in 2022 about these alleged shell companies being floated to route commissions to agents which is above the cap set by it

Insurance industry's gross direct premium to cross Rs 3 lakh crore by FY25: ICRA

Private insurers' combined ratio is likely to improve and Return of Equity (RoE) is expected at 11.2-12.8 per cent in FY2024 and 12.5-13.9 per cent in FY2025, ICRA said in a report.

Budget 2021 | Expectations to boost insurance sector and encourage long-term savings

The life insurance industry plays a key role of providing social security to Indians. The importance of a safety net in the form of insurance cover gained immense prominence in 2020

Insurance sector undergoing disruptions, trend to accelerate: Report

The operating and business models of insurers have been evolving due to the disaggregation of the insurance value chain, according to the report prepared by industry body Assocham in collaboration with Ashvin Parekh Advisory Services.

Insurers get a panel of 13 actuaries to review products

The insurance industry will now have access to a panel of 13 actuaries who will be assisting them in a range of services. The panel has been put together by IRDAI from a list of candidates who had applied for the post.

What do insurance companies want from Budget 2017?

On the heels of demonetisation, the insurance industry is seeking higher tax exemptions, focus on e-payment and compulsory home insurance in the upcoming Union Budget that will help in increasing insurance penetration in India.

Future Generali eyes Rs 3,000 cr biz in 3 yrs: CEO

General insurer Future Generali India aims at a business of Rs 3,000 crore in the next three years with an expected growth rate of 15-20 percent.

All policy planners want low interest rate: FM Arun Jaitley

RBI is scheduled to come out with its fourth bi-monthly policy review for the fiscal on September 29 and with uncertainty getting over with regard to the US Fed rate, the central bank may yield to the pressure of easing rates.

Cyber insurance to triple to $7.5 bn by 2020: Report

Insurers and reinsurers are charging high prices for cyber cover and putting a ceiling on potential losses, deterring companies from buying cyber polices, consultancy PwC said in the report.

Eye 25% AUM growth; motor sales still a drag: Bajaj Finserv

Sanjiv Bajaj, MD, Bajaj Finserv says the general insurance industry is still seeing slow growth of 10-11 percent because a large part of the industry is motor insurance and motor sales have remained tepid.

India, US must increase cooperation in fin services sector

A robust insurance and pension sector plays an important role in India's economic development as it is the source for channelising domestic savings into capital markets, it added. The Indian insurance industry is estimated to achieve a market size of around USD 350-400 billion by 2020.

Insurance biz to grow 10-12%; won't list it: Sanjiv Bajaj

The company is not looking at listing its insurance business in the coming years because the company is at present adequately capitalised and neither do the promoters need the money, says Sanjiv Bajaj, Managing Director of Bajaj Finserv.

Online insurance sales to touch Rs 15k cr by 2020: Report

Online insurance sales market in India would be around Rs 3,500-Rs 6,000 crore for life insurance and Rs 11,000-Rs 15,000 crore for non-life insurance, the report said.

Banks not keen to act as insurance brokers

The insurance industry was anyways not too hopeful of large private & public sector banks entering the insurance broking segment, now, it seems most banks are not keen.

Insurance industry bats for revival; scripts a gameplan

The life insurance industry is confident of a revival in the sector. It has submitted four recommendations to the insurance regulatory development authority for staging a recovery for the insurance business, reports CNBC-TV18's Manasvi Ghelani.

Insurance companies rejoice on hike in FDI cap

Indian insurance companies have raised their hopes after the government decided to hike the FDI cap in insurance sector from 26 to 49 percent under the automatic route.

Asian insurance M&A gets pricey as region's promise beckons

A deal-making frenzy in Asia's insurance industry is turning up the heat on buyers to fork out huge sums or miss out on a prime chance to tap into the sector's fastest growing market, and few predict a slowdown despite the eye-popping prices.

Insurance needs big investment, hike in FDI limit: IRDA

The insurance industry needs big investments for growth in the coming years and will welcome hike in FDI cap, sectoral regulator Irda said today.

Informatica Provides Coverage For Big Data In The Insurance Industry

XMap and HParser Capabilities in Informatica 9.5 enable insurance organisations to more effectively address the opportunities and challenges around ACORD insurance standards and Big Data.

Budget Expectations: Hope FM doesn't raise taxes, says HDFC Life

Amitabh Chaudhry, managing director and chief executive of HDFC Life says that the insurance industry is worried that the FM will implement the DTC in parts.

Outlook for the insurance sector in 2012

The following points summarize the changes or trends that customers will witness in the insurance industry in 2012.