Health insurance costs are increasing as financial assistance decreases, potentially impacting Champaign-Urbana.
The Affordable Care Act (ACA) marketplace is set to open for enrollment on November 1, but the average monthly premiums for 2026 plans are expected to more than double unless Congress extends subsidies that help cover those costs. The nonpartisan Congressional Budget Office estimates that if the subsidies expire, four million people will lose...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the...
Aviva and Tesco have launched a life insurance partnership.
Aviva has partnered with Tesco Insurance & Money Services to launch a new life insurance product for Tesco customers. This partnership brings together Tesco's brand recognition and customer focus with Aviva's underwriting expertise and reputation in the protection industry. The new life insurance plan, available at tescoinsurance.com, offers a...
360 BIZ: Transforming Employee Benefits through Seamless Digital Solutions
PNB MetLife India, a leading life insurance company, has launched a revolutionary digital platform called 360 BIZ, designed to transform the way businesses manage group insurance and employee benefits. The platform aims to simplify processes, enhance the employee experience, and provide comprehensive coverage and flexible benefits all in one...
How Much More Would People Pay in Premiums if the ACA’s Enhanced Premium Tax Credits Expire? | KFF
The Health Insurance Marketplace Calculator is a tool designed to help individuals understand their options for health coverage and estimate their eligibility for financial assistance. However, users may encounter technical difficulties or have questions about how to use the calculator. To address these issues, the calculator's FAQs provide...
Court Overturns Insurer’s Definition of ‘Accident’
The Uttarakhand State Consumer Disputes Redressal Commission recently ruled in favor of a complainant, Smt. Meera Srivastava, in a case against IFFCO Tokio General Insurance Co. Ltd. The insurance company had denied a personal accident insurance claim made by Srivastava after her husband's death due to complications from rabies. The policy had...
Aviva has launched an online life insurance service for Tesco shoppers.
Aviva has partnered with Tesco to offer life insurance products through the supermarket's website. This marks the first time life insurance products have been available on the Tesco Insurance website, which already offers car, home, pet, and travel insurance. Customers can now purchase life insurance online through a digital quote and apply...
A smart way to earn ₹20,000 every month for life
The LIC Jeevan Utsav plan, offered by the Life Insurance Corporation of India, is a retirement plan designed to provide lifelong income after a limited premium-paying term. This innovative policy allows individuals to choose a premium payment period of 5 to 16 years, after which they will receive an annual income of 10% of their sum assured for...
FSIB recommends R. Chander for MD’s position in LIC
The Financial Services Institutions Bureau (FSIB) has announced its recommendation for the position of Managing Director at the Life Insurance Corporation of India (LIC). After interacting with five candidates from LIC on September 30, 2025, the Bureau has selected R. Chander for the role. The decision was based on the candidates' performance...
A mountain of transgressions and shattered vows
The article discusses the breach of trust by the Life Insurance Corporation of India (LIC), the country's largest insurer, with its customers. The concept of "uberrima fides" or utmost good faith is a fundamental principle in insurance, which demands complete honesty from both parties. However, LIC has consistently violated this principle by...
LIC Schemes: LIC has introduced two new plans, offering potentially high returns.
The Life Insurance Corporation of India (LIC) has introduced two new insurance products, LIC Jan Suraksha and LIC Bima Lakshmi, which will be available for sale starting October 15. Both schemes are non-linked and non-participating, meaning they are not affected by market fluctuations, ensuring a safe investment. These products cater to different...
Earn a monthly pension of up to ₹44,000.
The Life Insurance Corporation (LIC) of India has introduced the Smart Pension Plan 2025, a retirement planning solution that provides a guaranteed monthly income for life in exchange for a one-time lump sum investment. This non-linked, non-participating annuity plan is available for a minimum investment of ₹1 lakh. The plan's payout structure is...
LIC of India will launch 2 new schemes starting tomorrow, namely LIC’s Jan Suraksha and LIC’s Bima Lakshmi.
The Life Insurance Corporation of India (LIC) is set to launch two new schemes, LIC's Jan Suraksha and LIC's Bima Lakshmi, starting tomorrow. These schemes aim to provide financial security and protection to individuals and their families. Here are the details of the two schemes: LIC's Jan Suraksha LIC's Jan Suraksha is a micro-insurance plan...
LIC clocks 14.6% growth in individual premium for June
The Life Insurance Corporation of India (LIC) has reported a significant increase in individual premiums for the month of June 2025. According to data released by the Life Insurance Council, LIC's individual premiums grew by 14.6% year-on-year, outpacing the 12.12% growth rate of private life insurers. This robust growth is a positive sign for...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
A consumer panel in Chandigarh has ordered an insurance company to pay Rs 25 lakh to a policyholder for unjustly denying a claim.
The District Consumer Disputes Redressal Commission-I in Chandigarh has ordered Star Health and Allied Insurance Company to pay Rs 25 lakh to the heirs of a deceased policyholder, Sarita Dutta alias Sarita Sharma, whose medical claim was wrongly repudiated. The policyholder had purchased a health insurance policy from Star Health in 2018 for a...
India: Cashless hospital services resume through AHPI and Star Health partnership, as reported by Asia Insurance Review.
A recent dispute between hospitals and insurance providers in India has been resolved, with cashless hospital services set to resume from October 10. The dispute, which had been ongoing, had left many patients without access to cashless medical treatment. The Association of Healthcare Providers (India), or AHPI, which represents hospitals, had...
Tata AIG has joined Star Health and Niva Bupa in discontinuing cashless claim settlement at Max Hospitals.
Tata AIG General Insurance has suspended its cashless settlement arrangement with Max Hospitals, effective September 10, 2025. This move comes after a dispute over tariffs, with Tata AIG seeking further rate cuts and Max Healthcare refusing to comply. The hospital chain had signed a two-year tariff agreement with Tata AIG, but the insurer...
Insured, yet unprotected.
The Indian government's decision to reduce GST on insurance premiums to zero percent is a relief for millions, but it only scratches the surface of a deeper crisis in the insurance sector. According to the Council of Insurance Ombudsman's 2023-24 annual report, the top three firms with the most complaints are Star Health, CARE Health Insurance,...
Aviva and Tesco have launched a life insurance partnership.
Aviva has partnered with Tesco Insurance & Money Services to launch a new life insurance product for Tesco customers. This partnership brings together Tesco's brand recognition and customer focus with Aviva's underwriting expertise and reputation in the protection industry. The new life insurance plan, available at tescoinsurance.com, offers a...
Aviva has launched an online life insurance service for Tesco shoppers.
Aviva has partnered with Tesco to offer life insurance products through the supermarket's website. This marks the first time life insurance products have been available on the Tesco Insurance website, which already offers car, home, pet, and travel insurance. Customers can now purchase life insurance online through a digital quote and apply...
Aviva: Rewiring the insurance claims journey with AI – McKinsey & Company
Aviva, a leading insurance company, has embarked on a journey to revolutionize its claims process by leveraging Artificial Intelligence (AI). In partnership with McKinsey & Company, Aviva aimed to transform the claims experience for its customers, making it faster, more efficient, and more personalized. The goal was to reduce the time and...
Aviva has invested in Indico Data, a provider of insurance automation solutions.
Aviva Ventures, the venture capital arm of British insurer Aviva, has made a strategic investment in Indico Data, a company that specializes in AI-driven automation for insurance operations. The investment is expected to support the adoption of Indico Data's solutions by property and casualty (P&C) insurers worldwide. As part of the transaction,...
Aviva’s wealth unit experiences £2.3 billion in inflows, resulting in a 5% increase in assets.
Aviva's wealth unit has experienced a significant surge in inflows, with £2.3 billion in new investments, leading to a 5% increase in assets under management. This growth is a testament to the company's efforts to expand its wealth management business and attract new clients. The influx of new funds has boosted Aviva's assets under management to...
Aviva expert questions new solvency regime – report
At the Insurance Investor Live forum in London, a representative from Aviva, Albici, expressed concerns about the current state of the UK insurance industry. Albici, who is responsible for private asset origination for Aviva's annuity business, stated that the Prudential Regulation Authority (PRA) had initially aimed to make UK insurers more...
Average cost of a honeymoon reaches £4,550 per couple, while popularity of minimoons rises
A recent survey conducted by Aviva has revealed that over a third of Brits (37%) have either traveled or plan to travel abroad for their honeymoons, with an average spend of £4,550 per couple. Additionally, 6% of couples plan to go on both a minimoon and a honeymoon abroad, with an estimated total spend of £8,861. The research also found that one...
A tug-of-war is brewing over cashless health insurance, posing a potential threat to policy holders.
A recent standoff between hospitals and health insurance providers in India has raised concerns among policy-holders about the availability of cashless health insurance services. The Association of Healthcare Providers of India (AHPI) had advised its member hospitals to suspend cashless services provided by Bajaj Allianz, citing issues such as...
CRED has expanded its insurance network by partnering with Bajaj Allianz, Tata AIG, and United India on its garage platform.
CRED, a fintech company, has expanded its motor insurance offerings on its CRED Garage platform by partnering with three new insurance providers: Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of insurance providers on the platform to seven, including existing partners ACKO, ICICI Lombard,...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
AHPI revokes suspension of cashless services for Bajaj Allianz policyholders
The Academy of Hospital Administration (AHA) and the Insurance Provider, Bajaj Allianz, have come to a resolution regarding the suspension of cashless services for Bajaj Allianz policyholders. Recently, the AHA had revoked the suspension, allowing policyholders to once again avail of cashless services at empaneled hospitals. The suspension was...
Bajaj and Allianz have parted ways, marking a fierce battle for control in the Indian insurance market, as reported by Bloomberg.com.
The Indian insurance market has witnessed a significant development with the split between Bajaj Finserv and Allianz, marking a fierce control battle in the industry. Bajaj Finserv, a prominent financial services company in India, and Allianz, a global insurance giant, had a long-standing partnership in the Indian insurance market through their...
ICICI Lombard appoints Parag Lokhande to lead AI, data science, and startup strategy
ICICI Lombard has appointed Parag Lokhande as the Head of Data Science, AI, and Startup Initiatives. This move signifies the company's push towards AI-led innovation and collaboration with startups. Lokhande will be responsible for developing advanced machine learning solutions and engaging with emerging ventures to future-proof the insurer's...
Bajaj Allianz General Insurance transitions to Bajaj General Insurance
Bajaj Allianz General Insurance has undergone a rebranding and will now be known as Bajaj General Insurance. This change is part of a larger effort by Bajaj Finserv to rebrand its insurance businesses. The company's life insurance arm, previously known as Bajaj Allianz Life, has also been rebranded as Bajaj Life Insurance. The rebranding is seen...
Motilal Oswal
Aditya Birla Capital (ABCAP) has released its 2QFY26 consolidated results, showcasing a 4% year-over-year (YoY) increase in revenue to approximately INR124.8 billion. The company's consolidated profit after tax (PAT), excluding one-off items, grew 3% YoY to around INR8.55 billion. The overall lending book, comprising both non-banking financial...
Aditya Birla Capital’s Q2 profit rises 3% to Rs 855 crore
Aditya Birla Capital, the financial services arm of the Aditya Birla Group, has reported a 3% increase in consolidated net profit for the second quarter ended September 2025. The company's net profit stood at Rs 855 crore, up from Rs 834 crore in the same quarter of the previous financial year. The total income of the company rose to Rs 10,609...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
A look back at his journey through the lens of advertisements
Bollywood actor Vikrant Massey has announced his retirement from acting, surprising his fans and the entertainment industry. The actor, known for his roles in films and television shows, has also made a name for himself in the advertising world. With a relatable persona, Massey has become a popular choice for brands targeting younger, urban...
HDFC ERGO has partnered with Consumr.ai to enhance its customer intelligence capabilities.
Consumr.ai, a leading customer intelligence platform in India, has been selected by HDFC ERGO to pilot a proof-of-concept (POC) aimed at transforming the insurance customer journey. The POC will utilize Consumr.ai's proprietary AI Twins technology, which creates virtual representations of consumer cohorts based on real behavioral data. This...
Aditya Birla Sun Life Insurance has launched the Super Term Plan.
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched the ABSLI Super Term Plan, a comprehensive pure protection term insurance policy designed to provide goal-linked financial protection and built-in health management services. The policy reflects the company's customer-first approach and commitment to supporting policyholders'...
- LIC (Life Insurance Corporation of India): With a claim settlement ratio of 98.62%, LIC is one of the most trusted life insurance companies in India.
- HDFC Life Insurance: Offering a claim settlement ratio of 99.07%, HDFC Life Insurance is known for its efficient claim processing.
- ICICI Prudential Life Insurance: With a claim settlement ratio of 98.58%, ICICI Prudential is a popular choice among policyholders.
- SBI Life Insurance: SBI Life Insurance has a claim settlement ratio of 94.99%, making it a reliable option for life insurance.
- Max Life Insurance: Max Life Insurance boasts a claim settlement ratio of 99.22%, ensuring that policyholders receive their claims in a timely manner.
- Tata AIA Life Insurance: With a claim settlement ratio of 99.07%, Tata AIA Life Insurance is a trusted name in the Indian life insurance market.
- Bajaj Allianz Life Insurance: Bajaj Allianz Life Insurance has a claim settlement ratio of 98.48%, providing policyholders with peace of mind.
- Kotak Mahindra Life Insurance: Kotak Mahindra Life Insurance offers a claim settlement ratio of 98.15%, making it a popular choice among policyholders.
- PNB MetLife India Insurance: With a claim settlement ratio of 97.18%, PNB MetLife India Insurance is a reliable option for life insurance.
- Aegon Life Insurance: Aegon Life Insurance has a claim settlement ratio of 98.01%, ensuring that policyholders receive their claims efficiently.
- Exide Life Insurance: Exide Life Insurance boasts a claim settlement ratio of 98.47%, providing policyholders with a smooth claim experience.
- Reliance Nippon Life Insurance: With a claim settlement ratio of 97.71%, Reliance Nippon Life Insurance is a trusted name in the Indian life insurance market.
- Birla Sun Life Insurance: Birla Sun Life Insurance has a claim settlement ratio of 96.35%, making it a reliable option for policyholders.
- Aviva Life Insurance: Aviva Life Insurance offers a claim settlement ratio of 97.41%, ensuring that policyholders receive their claims in a timely manner.
- Future Generali India Life Insurance: With a claim settlement ratio of 95.71%, Future Generali India Life Insurance is a popular choice among policyholders.
- Canara HSBC OBC Life Insurance: Canara HSBC OBC Life Insurance has a claim settlement ratio of 95.39%, providing policyholders with a smooth claim experience.
- Pramerica Life Insurance: Pramerica Life Insurance boasts a claim settlement ratio of 95.55%, ensuring that policyholders receive their claims efficiently.
- Aditya Birla Sun Life Insurance: Aditya Birla Sun Life Insurance has a claim settlement ratio of 96.67%, making it a trusted name in the Indian life insurance market.
- Star Union Dai-ichi Life Insurance: With a claim settlement ratio of 95.13%, Star Union Dai-ichi Life Insurance is a reliable option for policyholders.
- Shriram Life Insurance: Shriram Life Insurance offers a claim settlement ratio of 94.99%, providing policyholders with peace of mind.
The life insurance industry in India has evolved from being a tax-saving instrument to a vital component of financial security. The Insurance Regulatory and Development Authority of India (IRDAI) plays a crucial role in regulating life insurance companies, setting standards such as Claim Settlement Ratio (CSR) and solvency ratio. As of FY...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
Duck Creek Technologies has been awarded the IDC FinTech Real Results Award for its work in insurance transformation.
Duck Creek Technologies, a global provider of intelligent solutions for the property and casualty insurance industry, has been named a co-winner of the 2025 IDC FinTech Real Results Awards in the Insurance Transformation category. The award recognizes Duck Creek's work with HDFC ERGO General Insurance Company, a leading private sector general...
A health insurance company has been fined Rs 30,000 for wrongly rejecting a medical claim. The insurer has also been ordered to pay Rs 2 lakh to the claimant, along with interest.
The District Consumer Disputes Redressal Commission in Mohali has ruled in favor of a policyholder, Kuldeep Singh Sandhu, who was wrongfully denied a mediclaim by HDFC ERGO Health Insurance Ltd. Sandhu had purchased a group mediclaim policy through Canara Bank, which covered both him and his wife for a sum insured of Rs 5 lakh. In March 2020,...
HDFC ERGO has partnered with Consumr.ai to enhance its customer intelligence capabilities.
Consumr.ai, a leading customer intelligence platform in India, has been selected by HDFC ERGO to pilot a proof-of-concept (POC) aimed at transforming the insurance customer journey. The POC will utilize Consumr.ai's proprietary AI Twins technology, which creates virtual representations of consumer cohorts based on real behavioral data. This...
HDFC ERGO General Insurance Wins Duck Creek Standard of Excellence Customer Award at Formation ’25
Duck Creek Technologies, a global intelligent solutions provider, has announced HDFC ERGO General Insurance Company Limited as a 2025 Standard of Excellence Customer Award winner. HDFC ERGO, India's leading private sector general insurer, has been recognized for its digital transformation and innovation in the insurance industry. The company has...
Posterscope India brings HDFC ERGO to the heart of Mumbai’s daily commute
HDFC ERGO General Insurance has launched an innovative Out-of-Home (OOH) campaign in collaboration with Posterscope India, aiming to integrate the brand into the daily routines of Mumbai commuters. The campaign transforms everyday travel stops into reminders of security, trust, and presence, connecting with people at moments that matter most. The...
HDFC ERGO marketing head Shilpa Desai joins Adfactors
Adfactors PR, a leading public relations firm, has announced the appointment of Shilpa Desai as Senior Vice-President of Digital and Innovation for its Banking, Financial Services, and Insurance (BFSI) and Capital Markets practices. This strategic move aims to strengthen the firm's market-leading position in these sectors. Shilpa will work...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
CRED has expanded its insurance network by partnering with Bajaj Allianz, Tata AIG, and United India on its garage platform.
CRED, a fintech company, has expanded its motor insurance offerings on its CRED Garage platform by partnering with three new insurance providers: Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of insurance providers on the platform to seven, including existing partners ACKO, ICICI Lombard,...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
Top insurance companies have successfully leveraged technology to revolutionize their approach to customer service, setting a new standard for the industry.
SBI General Insurance has emerged as the top performer in the motor insurance category. The company, which has partnered with 21 original equipment manufacturers (OEMs) for motor insurance, reported a moderate increase in the segment in the financial year 2024. Notably, it settled 2,70,716 motor own damage claims, with over 7,148 claims for...
ICICI Lombard appoints Parag Lokhande to lead AI, data science, and startup strategy
ICICI Lombard has appointed Parag Lokhande as the Head of Data Science, AI, and Startup Initiatives. This move signifies the company's push towards AI-led innovation and collaboration with startups. Lokhande will be responsible for developing advanced machine learning solutions and engaging with emerging ventures to future-proof the insurer's...
ICICI Lombard has completed a cross-region disaster recovery (DR) upgrade using Amazon Web Services (AWS).
ICICI Lombard, in partnership with Amazon Web Services (AWS), has successfully completed a cross-region disaster recovery (DR) upgrade. The upgrade involved relocating the company's secondary setup from Mumbai to Hyderabad, enabling continued access to critical applications during disruptions. The new system features automated failover and...