'Covid-related claims were almost 2.5 times the normal claims size.'
State-owned Life Insurance Corporation (LIC) announced on Monday that it had signed up tech giant Infosys to develop a next-generation digital platform that will act as the foundation for new high-value business applications, such as customer and sales super apps, portals, and digital branches. The financial terms of the deal remain undisclosed. The tie-up with Infosys is part of LIC's "long-drawn" strategy, said a senior executive of India's biggest insurer, who noted that the IT giant "won the bid to develop the next-generation platform through a request for proposal (RFP) process".
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines that will allow car dealers to become Motor Insurance Service Providers (MISP) and offer the policies of multiple general insurers, says Sanjay Kumar Singh.
Roopam Asthana, CEO and the whole-time director, Liberty General Insurance Ltd, will answer your queries on HEALTH and AUTO insurance.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Kamal has a crisp pen when it comes to writing short and yet powerful film dialogues. But while speaking ex tempore -- and that has been his style -- he looks every bit a confused man, observes N Sathiya Moorthy.
Anil Ambani's Reliance Infrastructure Ltd has slashed its standalone debt by 87 per cent to Rs 475 crore after it cleared outstanding dues of Life Insurance Corporation of India, ICICI Bank and other lenders, the firm said on Wednesday. In stock exchange filings and press statements, Reliance Infrastructure said its standalone external debt has reduced from Rs 3,831 crore to Rs 475 crore. "Consequently, the net worth of the company will stand at Rs 9,041 crore."
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
A crucial point anyone purchasing health insurance must heed is the need to declare PEDs.
A Central Bureau of Investigation team on Friday arrived at the Som Vihar residence of former Jammu and Kashmir governor Satya Pal Malik in connection with its probe in the alleged insurance "scam" in the Union territory which came to light after his statement that he was offered bribes to clear related files, officials said.
Sukhwinder Kaur doggedly pursued her case against Bharti Axa Life Insurance in the consumer courts.
The Central Bureau of Investigation on Wednesday conducted searches at the premises of Sunak Bali, who was an aide of Satya Pal Malik when he was the governor of Jammu and Kashmir, and 11 other locations in Delhi and Rajasthan in the alleged insurance scam case, officials said.
Though they come at a cost, buying them with the insurance policy can make a lot of sense.
Those who have an insurance policy need to check its clauses to determine if it covers home care treatment, advises Bindisha Sarang.
Annual premiums do not exceed what you readily shell out for an OTT subscription.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
If you have a health insurance policy, you can earn benefits on premiums paid on health check-ups, says Sajja Praveen Chowdary, head-Term Life Insurance, Policybazaar.com.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The Union health ministry on Monday announced that all claims of "Covidwarriors" under the Pradhan Mantri Garib Kalyan Package will be settled till April 24 after which a fresh insurance policy for them will become effective.
The ministry has also advised the Reserve Bank of India to make provisions for immediate relief in the affected areas.
Educate yourself about your car insurance policy's terms and conditions before buying or renewing it, suggests Animesh Das, head of product strategy, ACKO General Insurance.
Naval Goel explains the importance of day-care health insurance
Employees of public sector general insurance (PSGI) companies are observing nationwide one-day strike on Wednesday to protest against intended privatisation of state-owned insurers. The Joint Front of Trade Unions in PSGI companies met on Monday and decided to protest against the decision of the government to privatise PSGI companies. The unions have given a call for one-day strike against the passage of the General Insurance Business (Nationalisation) Amendment Bill 2021 in the Lok Sabha, General Insurance Employees All India Association general secretary K Govindan said. Employees of all four PSGI companies are participating in the day-long strike, he said.
Capital market regulator Sebi on Tuesday rejected the competing open offer made by the US-based entity Danny Gaekwad Developments & Investments for acquisition of Religare Enterprises Ltd (REL) as it did not meet necessary regulations.
The National Commission noted that if the policyholder wanted reinstatement, he should have made a written request and should have also cleared the premium till that date, but no such request had been made.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The total benefits paid by private life insurance companies to policyholders rose by 5.98 per cent to Rs 1.57 trillion during 2022-23. This figure stood at Rs 1.49 trillion in the corresponding year-ago period. On the other hand, Life Insurance Corporation of India (LIC) paid out 4 per cent fewer benefits at Rs 3.39 trillion from Rs 3.53 trillion in 2021-22.
The first step that has been taken by IIB is to bring out unique identity numbers for hospitals.
Yield loss due to natural calamity is calculated based on field reports and assessment of crop-cutting experiments by district and block agriculture officers.
in the longer run, there is no substitute for a standard term, accident, and a comprehensive health cover, with adequate sum insured that will give you round-the-clock and year-after-year coverage.
Two types of deductibles are associated with auto insurance -- compulsory and voluntary.
Information Technology (IT) major Infosys escalated the legal tussle with Cognizant by filing a countersuit in a US court, accusing the Nasdaq-listed firm and its Chief Executive Officer (CEO) Ravi Kumar of anticompetitive practices by maintaining its monopoly. Infosys has also alleged that Kumar misused sensitive information that slowed the launch of the company's health care platform Helix.
The National Commission indicted LIC for working in cahoots with doctors for baseless certificates to repudiate claims and held this to be an unfair practice.
Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
Rekha Gupta had the support of the RSS, which actively participated in the Delhi assembly poll campaign to help the BJP win.
The growing complexity of E2Ws and the evolving threat landscape make it challenging to guarantee complete immunity from attacks.
The family floater health insurance plan is designed keeping in mind the coverage requirements of the entire family. Feature wise, it's quite similar to an individual health plan. The key differentiator is the fact that it provides complete health coverage to the whole family
Some of these plans will weigh on your pocket. The increase in premium could also be large as you grow older.
A sum insured of Rs 3 lakh to Rs 5 lakh may have been sufficient seven-eight years ago but would be inadequate today, especially for people living in metros, points out Sanjay Kumar Singh.
