Finance Ministry reviews revival of mega PSU insurance merger, also considers privatisation and FDI hike.
The Indian Finance Ministry is reconsidering a proposal to merge three public sector general insurance companies: Oriental Insurance, National Insurance, and United India Insurance. The goal of the merger is to improve operational efficiency and scale. This plan was initially announced in the 2018-19 Budget by then Finance Minister Arun Jaitley...
Millions of Americans are facing increasing health insurance costs, raising the question: can ‘Trumpcare’ provide a solution?
The cost of health insurance in the US is expected to increase significantly for millions of Americans, posing a major challenge for President Donald Trump. The enhanced tax credits introduced in 2021 under President Joe Biden, which reduced the cost of Affordable Care Act (ACA) premiums for roughly 24 million people, are set to expire on...
Tata AIA Life Insurance Unveils Innovative Term Plan, Reports Strong Financial Growth
Tata AIA Life Insurance has introduced a new term plan, showcasing the company's commitment to innovation and customer-centricity. This move is part of the company's strategy to expand its product offerings and cater to the evolving needs of its customers. The new term plan is designed to provide comprehensive protection to policyholders,...
The Carlyle Group is in talks to acquire a significant stake in Nido Home Finance, as per reports from ETRealty.
Carlyle Group Inc. is in discussions to acquire a majority stake in Nido Home Finance Ltd., a Mumbai-based Indian home mortgage firm owned by Edelweiss Financial Services Ltd. The potential deal, valued at an initial funding of $300 million, would mark Carlyle's latest investment in India's financial services sector. Negotiations are ongoing, and...
For Democrats, a new approach to making healthcare affordable involves implementing policies that increase accessibility and reduce costs for individuals and families. This can include expanding Medicaid, strengthening the Affordable Care Act, and exploring alternative models such as Medicare for All or a public option. By doing so, Democrats aim to ensure that every American has access to quality, affordable healthcare, regardless of their income or social status.
The US is facing a healthcare affordability crisis, with 2026 expected to bring the steepest increases in medical costs in 15 years, at 6.7%. This burden will be passed on to employees in the form of higher premiums, co-pays, and deductibles. The current system is unsustainable, with 70% of working-age Americans relying on employer-provided...
The main reason we can’t buy health insurance across state lines is due to the McCarran-Ferguson Act of 1945, which gives states the authority to regulate health insurance. This law allows each state to set its own rules and standards for health insurance, resulting in varying levels of coverage, pricing, and provider networks.Additionally, the Employee Retirement Income Security Act (ERISA) of 1974 also plays a role, as it regulates self-insured health plans offered by large employers, but does not apply to individual health insurance policies.The Health Insurance Portability and Accountability Act (HIPAA) of 1996 also added complexity by allowing states to impose their own requirements on health insurance, further limiting the ability to buy insurance across state lines.In general, buying health insurance across state lines is restricted because each state has its own unique set of regulations, and insurers must comply with these regulations in order to operate within a given state. This makes it difficult for insurers to offer policies that can be sold across multiple states.
The Affordable Care Act's federal subsidies are set to expire, and President Donald Trump and Republican lawmakers are under pressure to propose a solution to address skyrocketing healthcare costs. One proposed solution is to allow Americans to buy health insurance across state lines. Currently, Americans can only purchase insurance policies from...
Sreesanth’s 2012 Injury Case Reaches Supreme Court
The Rajasthan Royals cricket team is embroiled in a decade-long legal battle with United India Insurance Company over an insurance claim worth Rs 82 lakh related to S Sreesanth's injury in 2012. The dispute has reached the Supreme Court, with the team arguing that Sreesanth's absence from the season was due to a fresh knee injury, while the...
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...
AHPI issues notice to Star Health Insurance, warns of suspension of cashless services from September 22, 2025 – Express Healthcare
The Association of Healthcare Providers India (AHPI) has issued a notice to Star Health Insurance, warning of a potential suspension of cashless services starting from September 22, 2025. This move is likely a result of unresolved issues between the two parties, although the specific reasons behind the notice are not explicitly stated. As a...
Healthcare providers’ body demands immediate restoration of cashless services by Star Health Insurance
The Association of Healthcare Providers (AHPI) has suspended cashless services in several hospitals across India, including prominent chains like Care Hospitals, Manipal Hospital, and Max Hospitals, among others. This move is in response to a dispute with Star Health Insurance, one of the leading health insurance companies in the country. AHPI...
Rising Health Insurance Complaints in India: Key Data Insights
Complaints against health insurers in India are on the rise, indicating growing consumer awareness and the importance of effective grievance redressal mechanisms. According to Insurance Samadhan, a grievance platform, there was a 45% increase in complaints in Q2 2025 compared to the previous quarter, with 974 cases involving claims worth over...
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...
Generali Central Insurance aims to double its premium income to Rs 10,000 crore by 2030.
The Indian insurance industry is witnessing significant growth, with several overseas insurers holding substantial stakes in local companies. For instance, Ageas holds 74% in Ageas Federal Life Insurance, while Aviva and Nippon Life have joint ventures with Dabur and Reliance Life, respectively. Zurich also owns 70% of Kotak General Insurance....
Insurance giant Aviva is doubling every donation to The Welcome Centre food bank until Christmas Eve.
Aviva, a leading insurance company, has announced a generous initiative to support The Welcome Centre food bank in Huddersfield. Until Christmas Eve, Aviva will double every donation made to the food bank, aiming to make a significant impact on the local community. This partnership demonstrates Aviva's commitment to giving back and helping those...
Aviva study exposes significant lack of understanding about UK pensions
A recent survey conducted by Aviva has revealed a significant gap between perceived and actual knowledge about pensions in the UK. Despite 53% of Brits claiming to be knowledgeable about pensions, only a third can correctly identify a Defined Benefit (DB) or Defined Contribution (DC) scheme. Furthermore, 20% of respondents don't know what type of...
Scary Financial Habits to Avoid This World Savings Day
As the world celebrates World Savings Day, Aviva is encouraging consumers to overcome their financial fears and develop better savings habits. The company has identified six "spooky money habits" that can challenge people's financial futures, including forgotten pensions, unexpected expenses, impulse buys, lack of budgeting, procrastination, and...
Aviva Ventures has invested in Indico Data, with the goal of driving artificial intelligence (AI) adoption within the insurance industry.
Aviva Ventures, the corporate venture arm of UK-based insurance giant Aviva, has invested in Indico Data, a Boston and London-based company that specializes in AI-powered automation for the insurance industry. The investment aims to support Indico's expansion in the London Market and strengthen its credibility with property and casualty players...
Fraud on the rise but fraudsters facing the consequences
Aviva, a leading insurance company, has announced that its counter-fraud team has detected over 6,000 fraudulent insurance claims in the first half of 2025, worth more than £60 million. This translates to over £334,000 in prevented fraud every day. The company's commitment to protecting its customers from the harmful effects of fraud has led to a...
UK Environment Secretary welcomes launch of Aviva-led Flood Action Coalition
The FloodAction Coalition, a new cross-sector partnership convened by The Conduit and chaired by Aviva, has been launched to mobilize up to £1 billion of investment in nature-based solutions to protect people, places, and infrastructure from flood and drought in the UK. Flooding is the UK's fastest-growing climate risk, with over 5.7 million...
Non-life insurers record 5% premium growth in June, data reveals
The Indian general insurance industry has witnessed a mixed performance in terms of premium growth, with some insurers reporting significant increases while others saw declines. New India Assurance, the largest general insurer, led the pack with a 10.6% year-over-year (YoY) increase in premiums to Rs 3,328 crore. This growth is notable, given the...
From Crisis Cover To Daily Care: How Health Insurance Became A Real Life Partner
The insurance industry has undergone a significant transformation, shifting from a reactive model to a proactive one. According to Sanjiv Bajaj, joint chairman and managing director of Bajaj Capital, insurance is no longer something that individuals hope to never use. Instead, it has become a tool that people engage with regularly, not just for...
Jammu and Kashmir government constitutes UT-Level Insurance Committee to enhance insurance coverage
The Government of Jammu and Kashmir has established a Union Territory Level Insurance Committee (UTLIC) to oversee the implementation of the UT Insurance Plan. This committee aims to increase insurance awareness and penetration throughout the Union Territory. The decision was formalized through a government order issued by the General...
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...
India Post Payments Bank has partnered with Aditya Birla Capital Limited to enhance accessibility to loan products across the country.
India Post Payments
Aditya Birla Capital has achieved a milestone by becoming the first entity to integrate its financial services on the Open Network for Digital Commerce (ONDC) platform.
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 that aims to create an open and interoperable e-commerce network, promoting inclusivity and competition in digital commerce. By offering these...
Aditya Birla Sun Life Insurance introduces the Super Term Plan, offering a comprehensive protection package that includes life, health, and income protection features.
Aditya Birla Sun Life Insurance Company (ABSLI) has introduced a new term insurance policy called the Super Term Plan, which offers a comprehensive solution for customers seeking life cover, income protection, and health support. The plan provides three flexible coverage options: Level Cover, Increasing Cover, and Level Cover with Return of...
Aditya Birla Capital Wins 6 Metals at e4m NEONS OOH Awards 2025
Aditya Birla Capital, a leading financial services company, has won six metals at the e4m NEONS OOH Awards 2025 for its three standout campaigns: "Aap Boodhe Hoke Kya Banoge?", "Activ One – ABHI Karo", and "India, Ab Hadh Kar De". These campaigns were recognized for their impact and effectiveness in reaching their target audiences. The "Aap...
Aditya Birla Health Insurance has appointed Swati Kulkarni as its new Head of Health Management.
Aditya Birla Health Insurance Company Limited has appointed Swati Kulkarni as its new Head of Health Management. Kulkarni brings over 20 years of experience in entrepreneurship and corporate leadership to the role, having previously co-founded and served as CEO of Elda Health, a company specializing in women's health and wellness. Her background...
The Consumer Disputes Redressal Forum has directed an insurance company to pay compensation to a policyholder for wrongfully denying an accident claim.
The Ernakulam district consumer disputes redressal commission in Kochi has ordered Aditya Birla Health Insurance Company to compensate a policyholder, Joy Paulose, for wrongfully denying a legitimate claim for accident treatment expenses. The insurance company had cited 'non-disclosure of pre-existing conditions' as the reason for denying the...
Insurers may pass on the best benefits to customers following GST cuts, according to Edme Insurance Brokers’ COO.
Edme Insurance Brokers Ltd., formerly Aditya Birla Insurance Brokers Ltd., is working closely with insurers to determine the pricing of products following the GST Council's decision to reduce the GST on individual life and health insurance policies from 18% to 0%. According to Gaurav Gupta, Chief Operating Officer of Edme Insurance Brokers Ltd,...
Non-life insurers record 5% premium growth in June, data reveals
The Indian general insurance industry has witnessed a mixed performance in terms of premium growth, with some insurers reporting significant increases while others saw declines. New India Assurance, the largest general insurer, led the pack with a 10.6% year-over-year (YoY) increase in premiums to Rs 3,328 crore. This growth is notable, given 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...
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...
Non-life insurers record 5% premium growth in June, data reveals
The Indian general insurance industry has witnessed a mixed performance in terms of premium growth, with some insurers reporting significant increases while others saw declines. New India Assurance, the largest general insurer, led the pack with a 10.6% year-over-year (YoY) increase in premiums to Rs 3,328 crore. This growth is notable, given the...
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...