After reporting low numbers in new business premium, life insurance companies are resorting to special initiatives to increase business from the rural segment, which they term as emerging markets.
You need not shell out the big bucks to be pampered. Buy a health cover and enjoy luxury treatment at a spa, join a gymnasium or a yoga centre and get the necessary incentives that suit your budget.
The revenue growth of 14-15 per cent was seen across the broad market, but due to margin pressure, earnings before interest and tax (Ebit) were flat or lower than estimates. Hence, the markets may remain range-bound in the short-term.
The revenue growth of 14-15 per cent was seen across the broad market, but due to margin pressure, earnings before interest and tax (Ebit) were flat or lower than estimates. Hence, the markets may remain range-bound in the short-term.
On scrutiny, Shield Plus has no special advantage over a fixed deposit.
Hurdles such as approvals for repair and fixed rates can make the process time-consuming.
The insurance regulator's move to prod insurance companies to sell health products to all age groups, including those above 65, is aimed at increasing penetration though there would be challenges on pricing due to higher risk perception, experts said. While there was no regulatory cap on age for health insurance policies, most companies had an internal policy which did not allow them to sell health insurance products to persons over 65.
Private insurers are planning to launch property title insurance covers in India soon. Foreign investment is therefore likely to enter the Indian real estate market.
The Federation of Automobile Dealers Association of India will soon launch a program for checking cars which are more than three years old across the country for Rs 500, liable to be reimbursed while going for insurance, a top official said on Thursday.
After reeling under losses for almost a decade, life insurance companies are now turning the tide. Four life insurers have, so far, posted profit, while three of them have brought down their losses.
Anil Dhirubhai Ambani Group's Reliance General Insurance has become the second largest non-life private insurer, toppling Bajaj Allianz, in terms of premium collections of Rs 221 crore (Rs 2.21 billion) in April.
Critical illness policies by life insurance companies provide a variety of combinations but have a complex fine print.
'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
Riding on the success of Indian Idol 3, advertisers are queuing up for the fourth season of the show. Sony Entertainment Television, which will air Indian Idol 4 starting September 19 has sold over 85 per cent of the advertising inventory.
A rider is a supplementary cover which can be purchased with the base policy by paying an additional premium.
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Life insurance sector in India grew by 41 per cent in 2005-06 due to better performance of country's largest life insurer, LIC, and private players like Bajaj Allianz and ICICI Prudential.
Good performance of ICICI Lombard, New India, Oriental Insurance and Bajaj Allianz pushed the general insurance industry growth to 16 per cent in April-February of 2005-06.
Through this online facility, these business communities can generate marine policies, manage them online and speed up documentation procedures in case of an emergency.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
Before you step out of the country, make sure you have taken a travel cover
Bajaj Allianz Life Insurance, a leading private player, launched on Monday a life insurance plan for rural masses with a one time premium of just Rs 75 to be covered for a minimum five years.
Car market leader Maruti has sold a record 1 million policies under 'Maruti Insurance', launched two years ago.
With mobile data getting cheaper, insurers are introducing technologies that eases buying and lodging claims.
The three PSU insurers managed a meagre 2-4 per cent growth in business and eroded their market shares, while private players grew by 70 per cent to grab over 14 per cent of the general insurance market during 2003-04.
Health insurance policy-holders will be able to avail a discount on the premium payable if there were no claims made in the previous year, according to the circular released by the regulator.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
Annual premiums do not exceed what you readily shell out for an OTT subscription.
