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Feb 27, 2021 09:54 AM IST Artificial intelligence bots are now slowly starting to take decisions on whether your insurance claim should be paid or whether you should be allowed to buy a new policy. From your driving habits to fitness behaviour, everything has started being tracked.
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Feb 26, 2021 03:38 PM IST There were a number of complaints by health insurance customers in 2020 about the delay in claim payments and also about the dropping of many components from settlement in the final hospital bill.
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Feb 25, 2021 10:39 AM IST You can buy a new term policy or choose the increasing cover option with your existing insurer.
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Feb 24, 2021 09:04 PM IST Axis Bank proposes to acquire up to 9 percent and Axis Capital Limited and Axis Securities Limited together propose to acquire up to 3 percent of the share capital of Max Life in the first leg of the transaction.
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Feb 24, 2021 06:00 PM IST The Activ Health policy offers up to 100 percent premium returns and up to 100 percent reload of sum insured. Here, the consumer is offered a cash equivalent which can be used for health expenses or payment of future premiums.
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Feb 24, 2021 05:09 PM IST The insurer said in a statement that it is the only life insurance plan that offers a regular premium deferred annuity option.
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Feb 24, 2021 02:17 PM IST Considering that stake sale by merged banks in their insurance joint ventures could be lengthy, they are being given additional time. One entity cannot be a promoter of multiple insurance companies in life and non-life categories.
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Feb 24, 2021 12:04 PM IST SME and home insurance products have a large potential market. An easy-to-understand product that is attractively priced will help drive adoption
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Feb 22, 2021 11:24 AM IST For policies that come with larger sum-assured, the claim settlement ratio could be misleading.
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Feb 19, 2021 02:05 PM IST Life insurers are only allowed to sell fixed-benefit health plans, which offer a lumpsum benefit on diagnosis of an ailment. However, these insurers want to sell cashless and reimbursement health policies as well
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Feb 19, 2021 12:02 PM IST The insurance regulator's diktat on standardised insurance products means that the features would be similar across firms. But opting for a policy with low premiums can prove to be a costly mistake
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Feb 18, 2021 04:35 PM IST -
Feb 18, 2021 02:59 PM IST Set up in 2017, insurtech firm Gramcover wants to be the one-stop
shop for all insurance need for rural India. When even big insurance firms look
at rural insurance only from the mandatory angle, Gramcover sells livestock,
health, motor and crop insurance -- only to rural customers.
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Feb 17, 2021 07:23 PM IST Pre-approved sum insured is being offered to customers based on data analytics for ease of purchase, said Aditya Birla Sun Life Insurance MD & CEO Kamlesh Rao
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Feb 16, 2021 01:32 PM IST Guarantors are worried about the price of high claims, which will impact balance sheets in FY21. Customers will bear the brunt of rising health costs in the form of increased premiums.
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Feb 15, 2021 12:57 PM IST Customers will not have to worry about claims delays in Coronavirus hospitalisation incidents after IRDAI nudging insurers to make settlements quickly.
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Feb 12, 2021 05:48 PM IST Insurers should also inform their retail policyholders about DigiLocker, and how to use it, the circular said.
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Feb 12, 2021 03:33 PM IST Among other things, regulator IRDAI has said that drone insurance policies should cover an operator’s legal liabilities and damages. Insurers will also have to pay for repair/replacement of insured drones. Optional covers related to cyber liability, invasion of privacy, and night flying can also be offered by insurers.
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Feb 11, 2021 12:57 PM IST Digilocker is a 'digital locker app' for citizens to securely save copies of all their documents in their mobile phones. Google/Apple Play/ App store allows users to download it easily.
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Feb 11, 2021 10:15 AM IST Tax experts differ over the implications of early ULIP surrenders, debt fund options
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Feb 10, 2021 08:10 PM IST The underwriting losses of the general insurance industry increased by 6.27 percent YoY in FY20 to Rs 23,720 crore.
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Feb 10, 2021 11:38 AM IST Since the Finance Ministry is looking at having Life Insurance Corporation’s IPO in Q3FY22, says LIC chairman MR Kumar, the first step will be to get the state-owned life insurer’s valuation carried out. Meanwhile, amidst the challenging business environment, LIC is eyeing 15 percent growth in new premiums this fiscal year
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Feb 10, 2021 09:45 AM IST LIC's`contrarian’ strategy when investing in equity markets, to sell when the sentiment is bullish and buy when the mood is bearish, has paid rich dividends
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Feb 09, 2021 08:22 PM IST The growth was led by standalone health insurers who posted an 8 percent YoY rise in premiums to Rs 12,108.74 crore in this period.
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Feb 09, 2021 11:19 AM IST While the life insurance sector reported positive numbers for January 2021, year-to-date (YTD) growth in first year premium collections has stayed negative negative