Meet woman who once led Rs 59,800 crore govt firm, now works as…; daughter of India’s oldest billionaire – DNA India
The article features Ananya Birla, the daughter of Kumar Mangalam Birla, India's oldest billionaire. Ananya has taken an unconventional path in her career, despite being part of one of India's most influential business families. She was appointed as the chairperson of theStateChanged-owned firm, Swabhiman Anchal, which had a turnover of Rs...
Niva Bupa launches ‘Ab India Karega Rise’ to enhance health insurance accessibility for the middle class.
Niva Bupa, a health insurance brand, has launched a new digital campaign called "Ab India Karega Rise" to introduce its latest health insurance product, "Rise". The "Rise" plan is designed to bridge the gap between government health schemes and expensive private insurance plans, making quality healthcare more accessible and affordable for India's...
Bajaj Group receives CCI approval to acquire 26% stake of Allianz in insurance joint ventures for Rs 24,180 crore.
The Competition Commission of India (CCI) has given approval for the Bajaj Group's acquisition of Allianz SE's 26% stake in their joint life and general insurance ventures, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. The deal, valued at Rs 24,180 crore, is the largest in the country's insurance sector. With...
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HDFC Life has been ranked as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024.
HDFC Life, a leading life insurer in India, has been recognized as a 'Next Leader' in corporate governance by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company's commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured on this...
Women Prefer Term Insurance As Top Solution To Secure Their Child’s Future: Survey – Goodreturns
A recent survey conducted by Goodreturns has revealed that women in India prefer term insurance as the top solution to secure their child's future. The survey aimed to understand the financial priorities and preferences of women when it comes to planning for their children's future. The results show that term insurance has emerged as the most...
Niva Bupa Health Insurance Launches #WorldsMostResponsibleDad Campaign to Honour Fathers on Father’s Day
Niva Bupa Health Insurance Company Limited has launched a campaign called "#World'sMostResponsibleDad" to celebrate Father's Day and emphasize the importance of fathers securing their family's health and future. The campaign highlights that while fathers often prioritize their family's needs over their own, they tend to neglect their own health,...
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country's largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current...
LIC reports 14.64% growth in new business premiums for 2024, with total collections amounting to Rs 2.33 lakh crore.
The Life Insurance Corporation of India (LIC) has reported a significant 14.64% year-on-year growth in new business premiums, collecting a total of Rs 2.33 lakh crore in the January-December period of 2024. This outpaces the overall insurance industry's growth rate of 14.41% and the private life insurers' growth rate of 14.55%. The data, released...
RenewBuy has partnered with LIC and ICICI Prudential to launch a term plan specifically designed for working professionals and small business owners, catering to their unique financial security needs.
RenewBuy, an insurance company, has launched a new term plan called Smart Term in partnership with leading insurers LIC and ICICI Prudential. The plan is designed to address the common pain points of term insurance, such as complexity, affordability, and lack of customization options. The Smart Term plan is tailored for working professionals and...
LIC to fast-track insurance claims for victims of Air India AI-171 crash
The Life Insurance Corporation of India (LIC) has announced immediate measures to support the families of the victims of the Air India Flight AI-171 crash in Ahmedabad. The insurer expressed deep sorrow over the loss of lives and assured that it would expedite claim settlements to provide financial relief to the affected families. LIC has...
Former SBI Managing Director Dinesh Kumar Khara-headed FSIB has picked R Ravi Kumar and Dinesh Pant as its new members apart from reappointing the current employees then after selected M R Kumar was chief then TC Suseel kumar and atlast R Doraiswamy to take over as the Managing Director and Chief Executive Officer of LIC of India
The Financial Services Institutions Bureau (FSIB) has recommended R Doraiswamy, a seasoned executive with over 38 years of experience at the Life Insurance Corporation of India (LIC), for the post of Managing Director (MD) and Chief Executive Officer (CEO) of the company. The recommendation is significant as LIC is India's largest life insurance...
LIC of India has been awarded the ISO 22301:2019 Business Continuity Management System certification by the British Standards Institution.
The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification is a testament to LIC's commitment to maintaining its operations and services during disruptions, ensuring...
LIC, Bajaj Allianz expedite claim settlement for Air India plane crash victims
In response to the recent Air India plane crash in Ahmedabad, two major life insurance companies, Life Insurance Corporation (LIC) and Bajaj Allianz Life Insurance, have announced measures to expedite the claim settlement process for the victims' families. Recognizing the immense hardship faced by the families of the deceased, the companies have...
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country's largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current...
Star Health names Rajeev Kher as Chairperson of the Board
Star Health and Allied Insurance Company Ltd, a leading standalone health insurance provider, has made a significant announcement regarding the appointment of a new Chairperson to its Board of Directors. At a Board meeting held on April 29, 2025, Rajeev Kher, an Independent Director, was appointed to this key position. This appointment is pending...
Life Insurance Corporation (LIC) plans to acquire a stake in a health insurance firm by March 31, according to CEO Mohanty.
The Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year, according to its Managing Director and CEO, Siddhartha Mohanty. The company is in the final stages of discussions, but the name of the potential investee has not been disclosed. Mohanty...
Star Health has elevated its Chief Marketing Officer, Himanshu Walia, to the position of Whole-time Director.
Star Health and Allied Insurance Company, a leading insurance provider, has announced the elevation of two key executives to Whole-time Director positions. Himanshu Walia, the company's Chief Marketing Officer, and Amitabh Jain, the Chief Operating Officer, have been designated as Key Managerial Personnel. The appointments are subject to approval...
LIC CEO Mohanty stated that the firm will finalize acquiring a significant stake in a health insurance company by March 31.
The Life Insurance Corporation of India (LIC) is planning to reveal details of its latest acquisition by the end of the current fiscal year, according to MD and CEO Siddhartha Mohanty. The state-owned insurance company is in the final stages of acquiring a major stake in a standalone health insurance company, with the goal of finalizing the deal...
Star Health Advocates for Reduced Costs to Ensure Sustainability
Star Health and Allied Insurance, the largest standalone health insurer in the country, is advocating for a reduction in distribution costs, including commissions, to make health insurance more sustainable. According to CEO Anand Roy, the current cap on management expenses, which stands at 35%, should be gradually reduced by a percentage point...
Star Health has introduced a complimentary healthcare initiative called Doc Kendra in Tiruppur.
Star Health and Allied Insurance Co. Ltd has introduced a community healthcare initiative called Doc Kendra in Tiruppur, Tamil Nadu. The primary objective of this initiative is to provide free primary healthcare services to the local community through its branches. Each Doc Kendra will be equipped with a doctor and a paramedic, and patients will...
Aviva abandons international growth plans, focuses on expanding domestic presence
Amanda Blanc, the CEO of Aviva, has made notable comments that highlight a significant shift in the company's strategy. Unlike in the past, when Aviva expanded its operations globally, Blanc's approach is more focused on consolidation and streamlining. The company, formed in 2000 through the merger of Norwich Union and CGU, had previously amassed...
Aviva partners with CyberCube to enhance cyber exposure management capabilities.
CyberCube, a leading provider of cyber risk analytics, has partnered with US insurer Aviva to leverage artificial intelligence (AI) for cyber threat actor intelligence. The partnership will enable Aviva to use CyberCube's "Portfolio Threat Actor Intelligence" service and suite of cyber analytics software to strengthen its cyber exposure...
Aviva Issues Fire Risk Warning Due to Rising Claims
The UK has experienced its sunniest spring on record, with over 630 hours of sunshine between March 1 and May 27. However, this warm weather has also led to an increase in garden fire claims, according to insurance giant Aviva. The insurer reported that the average fire claim involving a garden in the UK amounts to nearly £16,000. The rise in...
Aviva Issues Fire Risk Warning Due to Rise in Claims
The UK has experienced its sunniest spring on record, with 630 hours of sunshine recorded between March 1 and May 27, according to the Met Office. However, this warm weather has led to an increase in garden fire claims, with Aviva reporting that April and May saw the highest number of claims this year. The average cost of a garden fire claim is...
Aviva has implemented the Reltio Data Cloud solution to unify its data.
Aviva, a multinational insurer based in the UK, has implemented the Reltio Data Cloud solution to provide real-time data intelligence and improve customer experiences. Prior to this deployment, Aviva struggled with fragmented data across different systems, which hindered its ability to gain a comprehensive view of customer interactions. The...
Aviva holds a 4.91% stake in Conduit as of May 22.
Aviva plc is a leading insurance, wealth, and retirement business company based in the United Kingdom. The company operates through several segments, including UK & Ireland Insurance, General Insurance, and Aviva Investors, as well as International investments and Other Operations. The UK and Ireland Life operations focus on providing life...
Aviva Partners with CyberCube to Enhance AI-Driven Cyber Risk Management Solutions
Aviva, a British insurer, has partnered with CyberCube, a cyber risk analytics company, to enhance its cyber risk management strategy using artificial intelligence (AI) capabilities. The partnership aims to help Aviva understand cyber threats and their targets by utilizing CyberCube's Portfolio Threat Actor Intelligence solution. This solution...
Bajaj Group receives CCI approval to acquire 26% stake of Allianz in insurance joint ventures for Rs 24,180 crore.
The Competition Commission of India (CCI) has given approval for the Bajaj Group's acquisition of Allianz SE's 26% stake in their joint life and general insurance ventures, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company. The deal, valued at Rs 24,180 crore, is the largest in the country's insurance sector. With...
Bajaj Allianz introduces region-specific health insurance plans to cater to distinct state-wise requirements.
Bajaj Allianz General Insurance has launched a new health insurance policy that is customized to meet the unique healthcare needs of each state in India. The policy, called "State-wise Health Insurance Policy," takes into account the local hospital infrastructure, prevalent health concerns, and affordability levels of each state to provide...
LIC to fast-track insurance claims for victims of Air India AI-171 crash
The Life Insurance Corporation of India (LIC) has announced immediate measures to support the families of the victims of the Air India Flight AI-171 crash in Ahmedabad. The insurer expressed deep sorrow over the loss of lives and assured that it would expedite claim settlements to provide financial relief to the affected families. LIC has...
Major fire destroys Bajaj Allianz office
A devastating fire broke out at the Bajaj Allianz office in Siwan city, located near Hotel Prakash at Babunia Mor, early on Friday morning. The fire, which is believed to have been caused by a short circuit, resulted in extensive damage to the property and valuables. Fortunately, no casualties were reported in the incident, as the office was...
LIC, Bajaj Allianz expedite claim settlement for Air India plane crash victims
In response to the recent Air India plane crash in Ahmedabad, two major life insurance companies, Life Insurance Corporation (LIC) and Bajaj Allianz Life Insurance, have announced measures to expedite the claim settlement process for the victims' families. Recognizing the immense hardship faced by the families of the deceased, the companies have...
Bajaj Allianz Life Insurance achieves 99.29% claim settlement rate in FY 2024-25.
Bajaj Allianz Life Insurance has achieved a milestone in its claim settlement process, with a 99.29% individual death claim settlement ratio in the fiscal year 2024-2025. The company settled 13,994 individual life insurance claims, disbursing a total of Rs 862.79 crores in claim payouts. This impressive feat demonstrates the company's commitment...
Bajaj Allianz Life introduces comprehensive policy for women
Bajaj Allianz Life has introduced a comprehensive insurance policy specifically designed for women, addressing their unique needs and concerns. The all-in-one policy provides a range of benefits, including life insurance, health insurance, and savings, to cater to the diverse requirements of women at various stages of their lives. This innovative...
Aditya Birla introduces the Super Term Plan, offering a combination of health services and flexible coverage options.
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country's largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current...
HDFC Life appoints Pritika Shah as Head of Marketing, as CMO Vishal Subharwal departs.
HDFC Life, a leading life insurance provider in India, has announced the elevation of Pritika Shah to the position of Executive Vice President and Head of Marketing and Corporate Social Responsibility (CSR). Shah, who has been with the company for nearly 12 years, will oversee the development and implementation of marketing strategies, brand...
Aditya Birla Sun Life Insurance Introduces Super Term Plan to Increase Life Coverage
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched the ABSLI Super Term Plan, a comprehensive pure protection term insurance plan that provides goal-linked financial protection and built-in health management services. The plan is designed to support the overall well-being of policyholders and offers flexibility in coverage...
Aditya Birla Capital is now live on the Open Network for Digital Commerce (ONDC) across all three of its core financial services.
Aditya Birla Capital, a leading non-banking finance company (NBFC), has successfully integrated its core financial services on the Open Network for Digital Commerce (ONDC) platform. This milestone achievement enables the company to offer its services, including lending, insurance, and mutual fund investments, to customers through various live...
Aditya Birla Capital has become the first player in the banking, financial services, and insurance (BFSI) sector to integrate its lending, insurance, and investment services with the Open Network for Digital Commerce (ONDC).
Aditya Birla Capital has become the first financial services company to integrate lending, insurance, and investments on the Open Network for Digital Commerce (ONDC). ONDC is a government initiative aimed at creating an open and interoperable e-commerce network, promoting inclusivity, competition, and accessibility in digital commerce. By...
Aditya Birla Sun Life Insurance has partnered with Equitas Small Finance Bank to increase access to life insurance products.
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has partnered with Equitas Small Finance Bank to offer a range of life insurance products to the bank's customers. This collaboration aims to increase financial protection and inclusion by making insurance solutions more accessible to Equitas customers. Through this partnership, Equitas...
Which Insurance Company Has the Highest Claim Approval Rate? Find Out the Best Performers in This Report
When purchasing insurance, individuals trust that their insurance companies will provide financial support in times of need. However, a recent report by the Insurance Brokers Association of India (IBAI) revealed that the claim-to-settlement ratio in India dropped from 87% in FY22 to 86% in FY23. This means that out of all the claims filed, 86%...
Parthanil Ghosh is Executive Director of HDFC ERGO General Insurance.
Parthanil Ghosh has been appointed as the Executive Director of HDFC ERGO General Insurance, effective May 1, 2025. The appointment was approved by the company's Board of Directors, the Insurance Regulatory and Development Authority of India (IRDAI), and other relevant authorities. Ghosh has been associated with HDFC ERGO since 2016 and has over...
HDFC ERGO and PCI introduce PlayAble, an initiative to empower para-athletes.
HDFC ERGO General Insurance has launched a groundbreaking platform called PlayAble, in partnership with the Paralympic Committee of India (PCI), to provide para-athletes with access to training facilities, coaches, and like-minded training partners across the country. The platform aims to empower para-athletes to train, grow, and compete with...
HDFC ERGO General Insurance has elevated Mukesh Kumar to the position of Joint Vice President of Human Resources (JVP-HR).
HDFC ERGO General Insurance has promoted Mukesh Kumar to the position of Joint Vice President - Human Resources. In this new role, Kumar will focus on strengthening the company's human capital growth and strategic people planning. Kumar joined the company in October 2022 as Deputy Vice President - HRBP & Talent Acquisition, where he was...
Fastest Insurers to Settle Claims within 3 Months:
- ICICI Lombard General Insurance: 98.04% claims settled within 3 months
- Bajaj Allianz General Insurance: 96.45% claims settled within 3 months
- HDFC Ergo General Insurance: 95.52% claims settled within 3 months
- Apollo Munich Health Insurance: 94.95% claims settled within 3 months
- Max Bupa Health Insurance: 94.64% claims settled within 3 months
Slowest Insurers to Settle Claims within 3 Months:
- United India Insurance: 73.45% claims settled within 3 months
- New India Assurance: 75.13% claims settled within 3 months
- National Insurance: 76.23% claims settled within 3 months
- Oriental Insurance: 77.15% claims settled within 3 months
- Universal Sompo General Insurance: 78.21% claims settled within 3 months
The Insurance Regulatory and Development Authority (IRDAI) has released its handbook on Indian Insurance Statistics for 2023-24, which provides insights into the claim settlement ratios of various insurance companies in India. The claim settlement ratio helps policyholders understand the proportion of claims an insurance company honors or pays...
Best insurance company in India: 90% claims settled each by Aditya Birla, New India, HDFC ERGO; Bajaj, Star, Shriram lowest.
A recent report by the Insurance Brokers Association of India (IBAI) for the financial years 2023-24 and 2022-23 has revealed that four insurance companies in India have consistently cleared more than 90% of claims made by beneficiaries. The top performers include Aditya Birla Health, HDFC Ergo, and New India Assurance, which achieved claim...
According to a report by the brokers association, the Indian insurance companies that reject claims the least are revealed, providing insight into the claims settlement records of various insurers.
A recent report by the Insurance Brokers Association of India (IBAI) has revealed that the claim-to-settlement ratio for general insurance in India has decreased to 86% in 2022-23, down from 87% in the previous fiscal year. This means that 14% of claims were rejected by insurance companies. The report also found that the claims repudiation ratio,...
ICICI Lombard has acquired the branding rights for the Siddhivinayak Metro Station.
ICICI Lombard, a leading insurance company, has acquired the branding rights for the Siddhivinayak Metro Station on Mumbai Metro Line 3 (Aqua line). The station, located in the heart of Mumbai, near the famous Shri Siddhivinayak Temple, will now be known as the ICICI Lombard Siddhivinayak Metro Station. This branding initiative is a significant...
Star Health has elevated its Chief Marketing Officer, Himanshu Walia, to the position of Whole-time Director.
Star Health and Allied Insurance Company, a leading insurance provider, has announced the elevation of two key executives to Whole-time Director positions. Himanshu Walia, the company's Chief Marketing Officer, and Amitabh Jain, the Chief Operating Officer, have been designated as Key Managerial Personnel. The appointments are subject to approval...
Delhi High Court quashes Rs.150 Crore GST Demand against ICICI Lombard General Insurance
The Delhi High Court has quashed a Goods and Services Tax (GST) demand of Rs. 150 crore against ICICI Lombard General Insurance Company Limited. The company had been issued a demand notice by the GST Officer, Department of Trade and Taxes, Government of the National Capital Territory of Delhi, for the financial year 2019-20. The demand included a...
Park+ partners with ICICI Lombard to offer digital car insurance.
Park+, a leading auto-tech platform in India, has partnered with ICICI Lombard, a prominent insurance provider, to offer car insurance services to its users. The partnership, announced on May 19, 2025, aims to simplify the process of acquiring and managing car insurance for Park+'s user base of over 20 million car owners. Through this...
Hansa Research Releases Health Insurance Customer Experience Report
Hansa Research, a consumer insights firm, has released its first edition of the Health Insurance Customer Experience Score (CuES) 2025 report. The study, based on feedback from over 3,800 respondents, examines customer expectations, satisfaction levels, and insurer performance across 12 health insurance brands in India. The report highlights the...
Star Health announces new board appointments
Star Health and Allied Insurance Company, a prominent retail health insurance provider, has made significant announcements regarding key appointments and leadership updates. The company aims to bolster its executive leadership and operational capabilities with these changes. Two key elevations have been made: Amitabh Jain, the current Chief...
Star Health elevates COO and CMO as whole-time directors.
Star Health and Allied Insurance, a leading Indian retail health insurance company, has made a significant move by elevating its Chief Operating Officer (COO) and Chief Marketing Officer (CMO) to whole-time directors and designating them as key managerial personnel. This decision is subject to approval from the Insurance Regulatory and...