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IRDAI 11-point reforms aim to achieve the mission of ‘Insurance for all by 2047’

The reforms recently announced by the IRDAI would help in bolstering the ease of doing business and will aid in making the sector more investment-friendly. The relaxation of solvency norms for general and life insurers would also free up some significant capital for insurance. With a mission of “Insurance for all by 2047” and the […]

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SoftBank plans to sell a 5% stake in Policybazaar via a block deal tomorrow

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Softbank is aiming to raise ₹1,000 crores, which could be at a base price of ₹440 a share, at a discount of 4.5% to today’s closing price Japanese conglomerate SoftBank Group Corp is planning to sell a 5% stake in PB Fintech, the parent of online insurance marketplace Policybazaar, via a block deal on Friday,

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Dhan Varsha plan by Life Insurance Corporation of India (LIC): 10 things to know!

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Life Insurance Corporation of India (LIC) has recently introduced a new life insurance plan, Dhan Varsha. This is a close-ended plan and shall be available for sale up to the end of the current financial year which is 31 March 2023. The plan is a non-linked, non-participating, individual, savings, single-premium life insurance plan. It offers

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Life insurers report 15% growth in first-year premiums

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According to the brokerage report, the year-to-date FY23 first-year premium numbers grew by 34.7% vs. the 4.1% growth reported in the same period last year. Compared to October 2021, all 24 life insurers had a collective new business premium income of ₹21,606 crores in the same month In October 2022, the new business premium income

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Max Financial gets IRDAI nod to acquire residual 5% stake held by Mitsui Sumitomo in Max Life

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Max Financial Services Limited (MFSL) announced that it has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to purchase the balance 5.17% stake held by Mitsui Sumitomo Company Limited (MSI) in Max Life Insurance Company Limited (Max Life). The transaction is expected to be concluded in the next fortnight. Earlier, Max

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Kotak General Insurance launches an on/off switch the feature on car insurance

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After opting for the Meter (switch-on/off) add-on, users have to download the Kotak Meter Mobile App available on Play Store or App Store, which allows the vehicle owners to switch their car insurance coverage ON and OFF based on usage Kotak Mahindra General Insurance on Monday announced the launch of an add-on cover called Meter

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IRDAI: Insurers need to leverage professional registry when issuing indemnity coverage

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This adds another level of validation while issuing professional indemnity insurance covers to medical practitioners and in the future may also be useful in building network hospitals for healthcare. The Insurance Regulatory and Development Authority of India (IRDAI) has advised all general and health insurers to consider capturing or collecting healthcare professional (HPR) ID as

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Bima Sugam to be a game changer for the insurance sector: IRDAI chairman

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Bima Sugam will be a one-stop shop for buying and selling insurance, policy servicing, and also for claim settlement The insurance industry’s regulator, IRDAI, is working on Bima Sugam, a one-stop shop for policy sales, renewals, and claims settlements. Bima Sugam will change the insurance industry forever. By making it easy for customers all over

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Snap Lays Off 20% Workforce! : What Will Happen To SnapChat?

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Snap, which is the parent company of the social media platform Snapchat, has announced that Snapchat shall downsize its workforce size by 20%. The reason Snap lays off its employees, as stated by Evan Spiegal, CEO, is the rising concerns for Snapchat to reduce its costs of operations. The sales figures are not in accordance

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Gold prices and check on inflation 2022!

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Gold has traditionally been considered an accurate indicator of the economic trend line across the world. Being considered the safest bet against inflation, investments in gold have soared as and when the world is gripped by rising inflation rates. Uncertainty is the name of the game and historically gold had certainly been one of the

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