Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance | Bizz Impact

Royal Sundaram General Insurance Co. Limited, India's first private sector general insurer, is celebrating its 25th anniversary of serving customers with protection, care, and innovation. Since its inception in 2000, the company has come a long way, introducing industry-first initiatives, pioneering bancassurance partnerships, and strengthening...

CamCom Technologies, an Indian company, has announced a strategic partnership with ERGO Group AG, marking a significant milestone in the global deployment of artificial intelligence in the insurance sector.

CamCom Technologies, an award-winning computer vision platform, has partnered with ERGO Group AG, one of the largest insurance groups in Germany and Europe. This partnership marks a significant milestone in CamCom's global journey, affirming its position as a world-class platform delivering enterprise-ready AI solutions for critical sectors. The...

Royal Sundaram Marks 25 Years of Trust, Care, and Innovation in Insurance

Royal Sundaram, a leading insurance company, has reached a milestone of 25 years in the industry. Since its inception, the company has been dedicated to providing innovative and customer-centric insurance solutions. With a strong foundation built on trust, care, and innovation, Royal Sundaram has established itself as a reputable and reliable...

LIC Revival Campaign: Reactivate Lapsed Policies: Rediff Moneynews

The Life Insurance Corporation of India (LIC) has launched a special campaign to revive lapsed policies, offering attractive concessions on late fees. The campaign, which will run from August 18 to October 17, 2025, aims to encourage policyholders to restore their insurance cover. Under this campaign, policyholders can revive their lapsed...

ICICI Securities has provided an analysis of the life insurance sector, focusing on key players such as HDFC Life, SBI Life, and ICICI Prudential Life.

Key observations include:

  1. Private sector market share gains: Private life insurers have been steadily gaining market share, with HDFC Life and ICICI Prudential Life being among the top gainers.
  2. Individual weighted received premium (WRP) growth: ICICI Prudential Life and SBI Life have shown strong growth in individual WRP, with ICICI Prudential Life outpacing the industry average.
  3. Protection business growth: HDFC Life and ICICI Prudential Life have reported significant growth in their protection business, driven by increasing demand for term insurance products.
  4. VNB margin expansion: SBI Life and ICICI Prudential Life have seen an expansion in their value of new business (VNB) margins, driven by improved product mixes and cost efficiencies.
  5. Investment income: All three insurers have reported strong investment income, driven by a rising interest rate environment and higher yields on their investment portfolios.

The analysis highlights the strengths and weaknesses of each insurer, with HDFC Life and ICICI Prudential Life expected to maintain their growth momentum, while SBI Life is expected to gain traction in the protection business and VNB margin expansion.

The life insurance industry in India has experienced strong growth in the first four months of the fiscal year 2026, according to a report by ICICI Securities. The industry's annual premium equivalent (APE) has increased by 13.7% year-on-year, while the sum assured has expanded by 25.1%. This growth is attributed to product diversification and...

LIC earns Guinness World Record for selling highest life insurance policies in 24 hours

The Life Insurance Corporation of India (LIC) has achieved a remarkable feat by earning a Guinness World Record title for selling the most life insurance policies in 24 hours. This incredible achievement was verified by Guinness World Records and recognizes the exceptional performance of LIC's dedicated agency network. On January 20, 2025, a...

LIC MD & CEO R Doraiswamy prioritizes ‘Insurance For All’ mission

Life Insurance Corporation of India (LIC) is prioritizing its mission of "Insurance for All" under the leadership of its Managing Director and CEO, R Doraiswamy. According to Doraiswamy, the primary objective of LIC is to ensure that every individual in the country has access to insurance, thereby providing them with financial security and...

Why Claim Settlement Ratio Should Be Your First Check Before Buying InsuranceThe claim settlement ratio (CSR) is a crucial metric that indicates the percentage of claims settled by an insurance company out of the total claims received. It serves as a key indicator of an insurer’s reliability and commitment to paying out claims. Before purchasing an insurance policy, it is essential to check the claim settlement ratio of the insurance company.A high claim settlement ratio signifies that the insurance company has a history of settling a large percentage of claims, thereby providing assurance to policyholders that their claims will be settled in case of an unforeseen event. On the other hand, a low claim settlement ratio raises concerns about the insurer’s willingness or ability to pay out claims.Checking the claim settlement ratio before buying insurance helps you make an informed decision. It allows you to assess the insurance company’s track record and gauge the likelihood of your claim being settled. By opting for an insurer with a high claim settlement ratio, you can ensure that you receive the compensation you are entitled to when you need it the most.Therefore, the claim settlement ratio should be your first check before buying insurance, as it reflects the insurer’s credibility and commitment to its policyholders. It is a vital factor that can significantly impact your decision-making process when selecting an insurance provider.

Navigating the world of insurance can be overwhelming, with numerous insurers in the market. One crucial metric to consider when choosing an insurer is the claim settlement ratio (CSR). The CSR is the percentage of claims an insurer settles in a given year compared to the total number of claims it receives. It serves as a key indicator of an...

Star Health Insurance has achieved a significant milestone, having protected the lives of 30 lakh senior citizens and settled claims worth over Rs. 11,500 crore.

Star Health Insurance has achieved a significant milestone by protecting the lives of 30 lakh senior citizens and settling claims worth over Rs. 11500 crore. This accomplishment showcases the company's commitment to providing comprehensive health insurance coverage to its policyholders, particularly senior citizens who are often more vulnerable...

Star Health Insurance has teamed up with Medi Assist to revolutionize the claims process by leveraging artificial intelligence and digital innovation.

Star Health and Allied Insurance Company Ltd., India's largest retail health insurer, has partnered with Medi Assist to adopt MAtrix, an advanced AI-powered claims platform. This collaboration is a significant step in Star Health's claims transformation journey, aiming to deliver faster settlements, better customer engagement, and technology-led...

Star Health collaborates with Medi Assist to implement AI-powered claims digitization.

Star Health and Allied Insurance, India's largest retail health insurer, has partnered with Medi Assist Healthcare Services to deploy an advanced AI-powered claims platform called MAtrix. This move is a significant step in Star Health's digital transformation journey, aimed at accelerating claims settlements, improving fraud detection, and...

Aviva Life Insurance has been awarded Product of the Year 2025 in both the Retirement Income and Unit Linked Insurance Plan (ULIP) categories.

Aviva Life Insurance, a leading private life insurance company in India, has been awarded the prestigious "Product of the Year 2025" title in two key categories: Life Insurance – Retirement Income and Life Insurance – ULIP. This recognition was based on a nationwide consumer survey conducted by NielsenIQ, as part of the 17th edition of Product of...

Aviva Enhances Freight Liability Insurance Offering

Aviva, a leading insurance provider, has announced an enhancement to its freight liability insurance offering. The company has expanded its coverage to provide more comprehensive protection for businesses involved in the transportation of goods. The enhanced policy is designed to address the increasing complexities and risks associated with...

Aviva Life Insurance has been awarded Product of the Year 2025 in the categories of Retirement Income and Unit Linked Insurance Plans (ULIP).

Aviva Life Insurance, a leading private life insurance company in India, has been awarded the prestigious "Product of the Year 2025" title in two key categories: Life Insurance - Retirement Income and Life Insurance - ULIP. The recognition was based on a nationwide consumer survey conducted by NielsenIQ, as part of the 17th edition of Product of...

UK’s financial watchdog has initiated an investigation into Aviva’s proposed £3.7 billion acquisition of Direct Line, a major player in the insurance industry.

The UK's Competition and Markets Authority (CMA) has launched an investigation into Aviva's £3.7 billion takeover of rival insurer Direct Line. The deal, which was agreed last year, aims to combine the insurance operations of both companies, creating one of the largest car insurers in the country. The CMA's phase 1 investigation, which began on...

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...

Association of Healthcare Providers of India (AHPI) has requested hospitals to discontinue providing cashless treatment to policyholders of Bajaj Allianz.

The Association of Healthcare Providers - India (AHPI), representing over 15,000 hospitals nationwide, has announced that its member hospitals in North India will suspend cashless treatment for policyholders of Bajaj Allianz General Insurance Company, effective September 1. This decision comes after hospitals faced repeated challenges with the...

Tamilnad Mercantile Bank has partnered with Bajaj Allianz General Insurance to expand its non-life insurance offerings.

தமிழ்நாடு வணிக வங்கி பஜாஜ் அலியான்ஸ் ஜெனரல் இன்ஷ்யூரன்ஸுடன் இணைந்து அதன் அதன் அல்லது வாழ்க்கை அல்லாத காப்பீட்டு வசதிகளை விரிவுபடுத்துகிறது. தமிழ்நாடு மெர்கண்டைல் வங்கி, தனது வாடிக்கையாளர்களுக்கு அதிக காப்பீட்டு தேர்வுகளை வழங்குவதற்காக பஜாஜ் அலியான்ஸ் ஜெனரல் இன்ஷ்யூரன்ஸுடன் கூட்டாண்மை செய்துள்ளது. இந்த கூட்டாண்மையின் மூலம், தமிழ்நாடு மெர்கண்டைல்...

Why Claim Settlement Ratio Should Be Your First Check Before Buying InsuranceThe claim settlement ratio (CSR) is a crucial metric that indicates the percentage of claims settled by an insurance company out of the total claims received. It serves as a key indicator of an insurer’s reliability and commitment to paying out claims. Before purchasing an insurance policy, it is essential to check the claim settlement ratio of the insurance company.A high claim settlement ratio signifies that the insurance company has a history of settling a large percentage of claims, thereby providing assurance to policyholders that their claims will be settled in case of an unforeseen event. On the other hand, a low claim settlement ratio raises concerns about the insurer’s willingness or ability to pay out claims.Checking the claim settlement ratio before buying insurance helps you make an informed decision. It allows you to assess the insurance company’s track record and gauge the likelihood of your claim being settled. By opting for an insurer with a high claim settlement ratio, you can ensure that you receive the compensation you are entitled to when you need it the most.Therefore, the claim settlement ratio should be your first check before buying insurance, as it reflects the insurer’s credibility and commitment to its policyholders. It is a vital factor that can significantly impact your decision-making process when selecting an insurance provider.

Navigating the world of insurance can be overwhelming, with numerous insurers in the market. One crucial metric to consider when choosing an insurer is the claim settlement ratio (CSR). The CSR is the percentage of claims an insurer settles in a given year compared to the total number of claims it receives. It serves as a key indicator of an...

Meet the woman who once headed a Rs 59,800 crore government firm, now works as a yoga instructor; she is the daughter of India’s oldest billionaire.

Meet Ananya Birla, the daughter of India's oldest billionaire, Kumar Mangalam Birla. Ananya, who once led a government firm worth Rs 598,000 crore, has now taken a different path in her career. As the chairperson of the Aditya Birla Group's microfinance arm, Svatantra Microfin, Ananya has been working tirelessly to empower women and promote...

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...

CamCom Technologies, an Indian company, has announced a strategic partnership with ERGO Group AG, marking a significant milestone in the global deployment of artificial intelligence in the insurance sector.

CamCom Technologies, an award-winning computer vision platform, has partnered with ERGO Group AG, one of the largest insurance groups in Germany and Europe. This partnership marks a significant milestone in CamCom's global journey, affirming its position as a world-class platform delivering enterprise-ready AI solutions for critical sectors. The...

HDFC ERGO’s TechPreneur Season 2 Grand Finale Features Groundbreaking ‘Deep Connect’ Innovations, Shaping the Future of Insurance Today

HDFC ERGO General Insurance Company, a leading private sector general insurer in India, has announced the winners of Techpreneur Season-2, a program designed to encourage tech-innovation in the insurance sector. The program, backed by BCG and Google, invited startups to present scalable solutions using new-age technologies such as AI, machine...

Mohali: Insurer to pay ₹2 lakh for rejecting medical claim

The District Consumer Disputes Redressal Commission in Mohali has ordered HDFC ERGO Health Insurance Limited to reimburse ₹2 lakh to a policyholder, Kuldeep Singh Sandhu, who was wrongly denied a mediclaim. Sandhu had purchased a group mediclaim policy from Apollo Munich through Canara Bank, which provided a cover of ₹5 lakh for both him and his...

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...

Claims are now allowed for hospital stays of 2 hours or more.

Over the past decade, medical advancements have revolutionized the way treatments and surgeries are performed, significantly reducing the time required for procedures. According to Siddharth Singhal, head of health insurance at Policybazaar, conditions that previously required overnight monitoring or post-operative care can now be safely managed...

PhonePe is providing insurance coverage for attendees of the Maha Kumbh Mela.

PhonePe, a digital payments firm, has launched an innovative insurance plan in partnership with ICICI Lombard General Insurance, specifically designed for travelers attending the Maha Kumbh Mela, a major spiritual event in Uttar Pradesh, India. The event, which takes place from January 13 to February 26, 2025, attracts millions of devotees from...

ICICI Lombard has collaborated with Clearspeed to identify and prevent fraudulent claims.

ICICI Lombard, a leading private general insurance company in India, has partnered with Clearspeed, a global leader in voice-based risk assessment technology, to address the issue of fraudulent insurance claims in the country. The partnership, facilitated by channel partner Aelius, aims to tackle the problem of motor theft claims, which is a...

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...

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...