Senate to Vote on Dueling Health Care Proposals with Little Sign of Resolution: NPR
The US Senate is set to vote on two healthcare-related bills on Thursday, but both are expected to fail. The subsidies for the Affordable Care Act (ACA) are set to expire at the end of the month, affecting millions of Americans. Democrats are seeking a three-year extension of the subsidies, warning that without it, healthcare premiums will...
‘NoRKA Care’ insurance launched exclusively for non-resident Keralites – Kerala Kaumudi
The Kerala government has launched 'NoRKA Care', an exclusive insurance scheme designed specifically for non-resident Keralites (NRKs). This initiative aims to provide comprehensive protection and support to NRKs, addressing their unique needs and challenges while living abroad. NoRKA Care is a joint venture between the Non-Resident Keralites...
UK’s Aviva implements GBST’s Composer platform
Aviva, a British multinational insurance company, has partnered with GBST to implement the Composer software-as-a-service (SaaS) platform for its individual annuities business transformation program. The platform will support Aviva's efforts to enhance its retirement planning offerings and improve the customer experience. With 25.2 million...
Research And Views Archives | Equitymaster
The article discusses the e-commerce landscape in India, specifically focusing on two major players: Nykaa and Meesho. As the Indian e-commerce market continues to grow rapidly, these two companies are at the forefront of this trend. The question on everyone's mind is which business model will show stronger scalability, profitability potential,...
Momentum is considering an initial public offering (IPO) for its joint venture with Indian billionaire Kumar Mangalam Birla.
Momentum Group Ltd, a South African insurer, is considering an initial public offering (IPO) for its Indian venture, Aditya Birla Health Insurance Co. The company, which has $172 million in excess capital, plans to spend a third of this amount to expand its businesses in South Africa and add new services in India. Momentum's CEO, Jeanette Marais,...
IFFCO MD Dr. Udai Shanker Awasthi retires after four decades of decisive leadership role
Dr. Udai Shanker Awasthi, the Managing Director of the Indian Farmers Fertiliser Cooperative Limited (IFFCO), will retire on July 31, 2025, after a tenure spanning over four decades. Awasthi, a chemical engineer from Banaras Hindu University, joined IFFCO in 1976 and became Managing Director in 1993. During his time at IFFCO, he played a key role...
Home Health Aides to Receive New Medical Insurance Coverage
New York State has announced that it will replace the company providing health insurance to hundreds of thousands of home care workers next year. The current provider, Leading Edge Administrators, has been criticized for underpaying doctors, billing patients for care that should be covered, and attempting to cancel patients' insurance without...
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...
Non-life insurers record 2% premium growth in September, Bajaj Allianz General Insurance leads the way
The non-life insurance sector in India has reported a modest 1.94% year-on-year growth in gross direct premium to Rs 23,430 crore in September. This growth was driven primarily by an increase in standalone health insurance premiums. The largest general insurer, New India Assurance, saw a 3.5% rise in premiums, while ICICI Lombard General...
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...
UK’s Aviva implements GBST’s Composer platform
Aviva, a British multinational insurance company, has partnered with GBST to implement the Composer software-as-a-service (SaaS) platform for its individual annuities business transformation program. The platform will support Aviva's efforts to enhance its retirement planning offerings and improve the customer experience. With 25.2 million...
Aviva reveals the top risk for UK SMEs
Small to medium-sized enterprises (SMEs) are facing a multitude of concerns that go beyond just cyber threats. In addition to cyber risks, SMEs are worried about operational and financial challenges that could impact their businesses. Some of the top concerns include business interruption, reputational damage, fraud, and regulatory changes....
Aviva’s digital transformation results in reduced customer premiums
A recent survey by GlobalData found that price or premiums and the speed of response to queries or quotes are the key factors for insurance brokers when choosing which insurer to place business with. The survey, which focused on the UK commercial insurance market, revealed that 28.4% of respondents considered price or premiums as the most...
Introducing Aviva Fusion – Coverager
Introducing Aviva Fusion, a cutting-edge insurance solution designed to provide comprehensive coverage for businesses. Aviva Fusion is an innovative product that combines the benefits of various insurance policies into one seamless package. With Aviva Fusion, businesses can enjoy the convenience of having all their insurance needs met under one...
Aviva is set to eliminate over 60 positions following the closure of By Miles.
Aviva, a leading insurance company, has announced that it will be closing down Direct Line Group's (DLG) By Miles, a pay-as-you-drive motor insurance provider. This decision follows a strategic review of Aviva's businesses after it acquired DLG earlier this year. As a result of the closure, Aviva expects to cut 62 roles, with the reduction being...
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...
Non-life insurers record 2% premium growth in September, Bajaj Allianz General Insurance leads the way
The non-life insurance sector in India has reported a modest 1.94% year-on-year growth in gross direct premium to Rs 23,430 crore in September. This growth was driven primarily by an increase in standalone health insurance premiums. The largest general insurer, New India Assurance, saw a 3.5% rise in premiums, while ICICI Lombard General...
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...
Momentum is considering an initial public offering (IPO) for its joint venture with Indian billionaire Kumar Mangalam Birla.
Momentum Group Ltd, a South African insurer, is considering an initial public offering (IPO) for its Indian venture, Aditya Birla Health Insurance Co. The company, which has $172 million in excess capital, plans to spend a third of this amount to expand its businesses in South Africa and add new services in India. Momentum's CEO, Jeanette Marais,...
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...
Non-life insurers record 2% premium growth in September, Bajaj Allianz General Insurance leads the way
The non-life insurance sector in India has reported a modest 1.94% year-on-year growth in gross direct premium to Rs 23,430 crore in September. This growth was driven primarily by an increase in standalone health insurance premiums. The largest general insurer, New India Assurance, saw a 3.5% rise in premiums, while ICICI Lombard General...
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...
Non-life insurers record 2% premium growth in September, Bajaj Allianz General Insurance leads the way
The non-life insurance sector in India has reported a modest 1.94% year-on-year growth in gross direct premium to Rs 23,430 crore in September. This growth was driven primarily by an increase in standalone health insurance premiums. The largest general insurer, New India Assurance, saw a 3.5% rise in premiums, while ICICI Lombard General...
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...