PNB MetLife has partnered with BIG FM to celebrate Onam in a special way in Kerala.
PNB MetLife India Insurance Company Limited is observing the Onam festival in Kerala with a variety of activities that bring together communities, customers, and partners. The company has partnered with BIG FM to launch the "BIG Maveli" initiative, which will take place from August 26 to September 5, 2025. This initiative aims to reach over one...
ManipalCigna Sarvah has been named the ‘Product of the Year 2025’ in the health insurance category, as reported by the Press Trust of India.
ManipalCigna Sarvah has been awarded the 'Product of the Year 2025' in the health insurance category. This prestigious award recognizes outstanding products that have made a significant impact in their respective industries. ManipalCigna Sarvah, a comprehensive health insurance product, has been acknowledged for its innovative features and...
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...
Niva Bupa has termed a viral social media post regarding the cashless denial of a policyholder as ‘baseless’.
Niva Bupa Health Insurance has denied allegations of denying a cashless claim to a policyholder, Chandra Kumar Jain, who is battling Myeloid Leukaemia and needs a Bone Marrow Transplant (BMT) at Sir HN Reliance Foundation Hospital in Mumbai. The allegations were made in a viral post on LinkedIn by health insurance and investments advisor Avigyan...
ACA healthcare plans are at the center of the shutdown fight: NPR
The US government shutdown has brought attention to the issue of extending Affordable Care Act (ACA) tax credits, which are set to expire in December. Democrats are pushing for an extension, citing the urgency of the situation, while Republicans argue that there is plenty of time to figure it out. The tax credits make ACA health care premiums...
Analysts have been explaining the discrepancy in the valuation of Canara HSBC Life compared to its competitor, HDFC Life. The key factors contributing to Canara HSBC Life’s discounted valuation include:
- Lower market share: Canara HSBC Life has a smaller market share compared to HDFC Life, resulting in reduced brand visibility and lower sales.
- Weaker distribution network: Canara HSBC Life’s distribution network is not as extensive as HDFC Life’s, limiting its ability to reach a wider customer base.
- Higher operating expenses: Canara HSBC Life’s operating expenses are higher compared to HDFC Life, eating into its profitability and affecting its valuation.
- Lower investment returns: The company’s investment portfolio has generated lower returns compared to HDFC Life, impacting its overall financial performance.
- Regulatory challenges: Canara HSBC Life has faced regulatory challenges, including stricter capital requirements and increased scrutiny, which have affected its valuation.
- Intense competition: The Indian life insurance market is highly competitive, with many players vying for market share, which has put pressure on Canara HSBC Life’s valuation.
- Lower profitability: Canara HSBC Life’s profitability is lower compared to HDFC Life, resulting in a discounted valuation.
These factors have contributed to Canara HSBC Life’s discounted valuation compared to HDFC Life, making it a less attractive investment opportunity for investors.
The life insurance sector in India has been growing rapidly, with premium income crossing ₹8.2 lakh crore in FY2024. However, despite being in the same industry, Canara HSBC Life and HDFC Life have different market perceptions, with HDFC Life trading at a premium valuation and being seen as a trusted industry leader. Canara HSBC Life, on the...
In 2026, UK SMEs are likely to face various challenges and opportunities. According to Aviva, the key concerns for business leaders include:1. Economic uncertainty: The ongoing impact of Brexit, inflation, and global market fluctuations may continue to affect business confidence and investment decisions. 2. Talent acquisition and retention: Attracting and retaining skilled workers will remain a priority, as SMEs compete with larger companies for top talent. 3. Digital transformation: Business leaders will need to adapt to emerging technologies, such as artificial intelligence, cybersecurity, and data analytics, to remain competitive. 4. Sustainability and environmental concerns: SMEs will be expected to prioritize environmental sustainability, reduce carbon footprints, and comply with increasingly strict regulations. 5. Access to funding: Securing funding and managing cash flow will continue to be a challenge for many SMEs, as they navigate changing lender requirements and explore alternative funding options. 6. Regulations and compliance: Business leaders must stay up-to-date with changing regulations, such as GDPR, and ensure their companies are compliant to avoid potential fines and reputational damage. 7. Skills and training: Investing in employee development and upskilling will be crucial to address the skills gap and prepare workers for the changing job market. 8. Cybersecurity: As technology advances, SMEs will need to prioritize cybersecurity measures to protect their businesses from increasingly sophisticated threats. 9. Supply chain resilience: Building robust and resilient supply chains will be essential to mitigate the risks of disruption, Brexit, and other external factors. 10. Mental health and wellbeing: Business leaders will need to prioritize the mental health and wellbeing of their employees, as well as their own, to maintain a healthy and productive workforce.
Rebecca Gambrell, the managing director of SME and Delegated Authorities at Aviva, has expressed her thoughts on the current state of small and medium-sized enterprises (SMEs). According to her, SMEs are crucial to the well-being of local communities, and it is encouraging to see them feeling confident about their future prospects. This...
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...
The Central Bureau of Investigation (CBI) has booked a LIC Admin Officer for allegedly embezzling ₹43.8 lakh and tampering with records to conceal the fraud.
The Central Bureau of Investigation (CBI) has launched an investigation into an administrative officer with the Life Insurance Corporation of India (LIC) for allegedly embezzling ₹43.8 lakh. The officer, who worked in the pension and group schemes unit, is accused of transferring funds to third-party accounts and then to his own account between...
- 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...
LIC’s Cancer Cover Valid Only If ‘First Diagnosis’ Occurs After Waiting Period, Not Expert Confirmation: Kerala High Court
The Kerala High Court has ruled in favor of the Life Insurance Corporation (LIC) in a case involving a cancer patient's claim for insurance coverage. The claimant, a policyholder, had renewed her cancer cover in March 2021, which included a waiting period of 180 days. During this period, she was hospitalized due to bleeding and underwent several...
A Step Toward Women’s Economic Empowerment
The Life Insurance Corporation of India (LIC) has introduced the Bima Sakhi Yojana, a scheme aimed at empowering women in rural and semi-urban areas by providing them with employment opportunities, training, and financial independence. This initiative aligns with the government's goal of promoting gender equality and financial inclusion. The Bima...
The government is considering a merger of state-owned general insurance companies.
The Indian government is contemplating a significant move to merge four state-owned general insurance companies into a single entity. The companies in question are New India Assurance, National Insurance, Oriental Insurance, and United India Insurance. The primary objective behind this proposed merger is to create a robust general insurance giant...
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,...
Star Health has introduced ‘Know Your Policy’, a simplified guide to understanding health insurance coverage, as reported by the Press Trust of India.
Star Health and Allied Insurance, a leading health insurance provider in India, has launched a new initiative called 'Know Your Policy'. This program aims to educate policyholders about the various aspects of their health insurance coverage, making it easier for them to understand and navigate their policies. The 'Know Your Policy' initiative is...
LIC is reportedly making an entry into the health insurance market by acquiring a stake in ManipalCigna.
According to a recent report, Life Insurance Corporation of India (LIC) is considering a foray into the health insurance market by acquiring a stake in ManipalCigna Health Insurance Company. This move is seen as a strategic expansion of LIC's business portfolio, which currently dominates the life insurance market in India. ManipalCigna Health...
Max Healthcare: No cashless claims for Tata AIG health insurance policyholders in Max Hospitals, becomes 3rd insurer to do so.
Tata AIG Insurance has suspended its cashless claim settlement facility with Max Hospitals, following in the footsteps of Star Health and Niva Bupa. This means that policyholders of these insurance companies will no longer be able to receive cashless treatment at Max Hospitals, and will instead have to pay out of pocket and claim reimbursement...
AHPI requests Star Health to reinstate cashless services at hospitals
The Association of Healthcare Providers of India (AHPI) has expressed concerns over the suspension of cashless treatment by Star Health Insurance in several hospitals. According to AHPI, cashless services have been disrupted in numerous hospitals, including Care Hospitals in Vizag, Manipal in Delhi and Gurugram, and Max in North India. Other...
In 2026, UK SMEs are likely to face various challenges and opportunities. According to Aviva, the key concerns for business leaders include:1. Economic uncertainty: The ongoing impact of Brexit, inflation, and global market fluctuations may continue to affect business confidence and investment decisions. 2. Talent acquisition and retention: Attracting and retaining skilled workers will remain a priority, as SMEs compete with larger companies for top talent. 3. Digital transformation: Business leaders will need to adapt to emerging technologies, such as artificial intelligence, cybersecurity, and data analytics, to remain competitive. 4. Sustainability and environmental concerns: SMEs will be expected to prioritize environmental sustainability, reduce carbon footprints, and comply with increasingly strict regulations. 5. Access to funding: Securing funding and managing cash flow will continue to be a challenge for many SMEs, as they navigate changing lender requirements and explore alternative funding options. 6. Regulations and compliance: Business leaders must stay up-to-date with changing regulations, such as GDPR, and ensure their companies are compliant to avoid potential fines and reputational damage. 7. Skills and training: Investing in employee development and upskilling will be crucial to address the skills gap and prepare workers for the changing job market. 8. Cybersecurity: As technology advances, SMEs will need to prioritize cybersecurity measures to protect their businesses from increasingly sophisticated threats. 9. Supply chain resilience: Building robust and resilient supply chains will be essential to mitigate the risks of disruption, Brexit, and other external factors. 10. Mental health and wellbeing: Business leaders will need to prioritize the mental health and wellbeing of their employees, as well as their own, to maintain a healthy and productive workforce.
Rebecca Gambrell, the managing director of SME and Delegated Authorities at Aviva, has expressed her thoughts on the current state of small and medium-sized enterprises (SMEs). According to her, SMEs are crucial to the well-being of local communities, and it is encouraging to see them feeling confident about their future prospects. This...
Aviva has been ordered to pay $2.28 million after losing a business interruption dispute.
A recent court case involved a dispute between a policyholder and Aviva, an insurance company, over business income loss due to a flood. The policyholder had made a claim under their insurance policy, seeking compensation for the loss of business income resulting from the flood. However, Aviva's assessment of the loss was deemed inadequate by the...
Manulife to acquire Aviva’s Vietnam unit, also enters into a distribution agreement with a bank.
Manulife, a Canadian insurance company, has announced its intention to acquire Aviva's Vietnam unit. This strategic move is part of Manulife's expansion efforts in the Asian market, where the company has been actively seeking opportunities for growth. The acquisition will enable Manulife to strengthen its presence in Vietnam, a country with a...
- 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...
Aviva Abandons International Expansion, Focuses on UK and Canada Markets
Aviva, a company formed in 2000 through the merger of Norwich Union and CGU, had previously pursued a global expansion strategy. This approach led to the accumulation of a substantial overseas portfolio, spanning across Europe, North America, and Asia. However, under the leadership of Blanc, who took the helm in 2020, the company has shifted its...
Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).
Recent data from the Insurance Regulatory and Development Authority of India (IRDAI) reveals that life insurance companies paid an average commission of 4.03% to distributors for Unit-Linked Insurance Plans (ULIPs) in 2024, up from 3.13% in 2023. The total commission paid for ULIPs in 2024 was Rs. 4,900 crore, while the total ULIP premiums...
Aviva Insurance Innovations: Leading the Global Financial Services Transformation
Aviva Insurance has established itself as a pioneer in the global financial services transformation, driven by its legacy of trust, innovation, and quality. With a history dating back to the late 17th century, Aviva has evolved through strategic mergers, acquisitions, and innovations to become one of the leading insurance providers worldwide. The...
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...
- 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...
LIC to fast-track insurance claims for victims of Air India AI-171 crash
In the aftermath of the devastating crash of Air India Flight AI-171 in Ahmedabad, the Life Insurance Corporation of India (LIC) has announced immediate measures to alleviate the financial burden on the families of the victims. The insurer expressed deep sorrow over the loss of lives, including passengers, crew members, and individuals on the...
Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).
Recent data from the Insurance Regulatory and Development Authority of India (IRDAI) reveals that life insurance companies paid an average commission of 4.03% to distributors for Unit-Linked Insurance Plans (ULIPs) in 2024, up from 3.13% in 2023. The total commission paid for ULIPs in 2024 was Rs. 4,900 crore, while the total ULIP premiums...
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...
ICICI Prudential Mutual Fund has launched a new fund offer (NFO) for its Conglomerate Fund, which will focus on investing in India’s largest and most diversified business conglomerates.
ICICI Prudential Mutual Fund has introduced the ICICI Prudential Conglomerate Fund, an open-ended equity scheme that aims to capitalize on opportunities within India's largest promoter-led business groups. The New Fund Offer (NFO) began on October 3, 2025, and will close on October 17, 2025. This fund focuses on Indian conglomerates, which are...
Life insurance companies pay a 4% commission on Unit Linked Insurance Plans (ULIPs).
Recent data from the Insurance Regulatory and Development Authority of India (IRDAI) reveals that life insurance companies paid an average commission of 4.03% to distributors for Unit-Linked Insurance Plans (ULIPs) in 2024, up from 3.13% in 2023. The total commission paid for ULIPs in 2024 was Rs. 4,900 crore, while the total ULIP premiums...
Kamlesh Rao, Aditya Birla Sun Life Insurance, ETBrandEquity
Kamlesh Rao, Managing Director and Chief Executive Officer of Aditya Birla Sun Life Insurance, emphasizes the importance of simplifying life insurance products to address common consumer misconceptions. The company has launched the Super Term Plan, which incorporates an integrated health management service and offers options for policyholders to...
ABCDL has received an in-principle approval to operate as an online payment aggregator.
Aditya Birla Capital Digital Ltd. (ABCDL) has received in-principle approval to operate as an online payment aggregator. This approval was granted under the Payment and Settlement Systems Act, 2007, and was announced by the company through an exchange filing on Tuesday. As a result, ABCDL will be able to provide online payment aggregation...
The insurance industry is seeking government support to extend Input Tax Credit (ITC) benefits to include distribution costs and renewals, according to the CEO of Aditya Birla Sun Life Insurance.
The life insurance industry in India is set to approach the government with new demands after the GST Council recently exempted individual life and health insurance policies from tax. The industry's primary request is to extend input tax credit (ITC) benefits to distribution costs and renewal premiums of past policies, even under the new zero-GST...
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...
HDFC ERGO General Insurance Wins Duck Creek Standard of Excellence Customer Award at Formation ’25
Duck Creek Technologies, a global intelligent solutions provider for the property and casualty insurance industry, 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 implemented Duck Creek's technology solutions to enhance...
HDFC ERGO has partnered with PhonePe to introduce an affordable health insurance solution, targeting India’s ‘missing middle’ demographic.
HDFC ERGO General Insurance Company has partnered with PhonePe to launch an affordable health insurance solution for the "Missing Middle" in India, which refers to the 30% of Indians who are neither covered under government-sponsored health schemes nor can afford comprehensive health insurance. This demographic, comprising approximately 40 crore...
Somesh Surana has been promoted to the position of Joint President of Digital Business and Marketing at HDFC ERGO.
HDFC ERGO General Insurance has announced the promotion of Somesh Surana to the role of Joint President – Digital Business Group & Marketing. Surana, who has been with the company for thirteen years, expressed his enthusiasm for the new role and expanded responsibilities through a post on LinkedIn. Throughout his tenure at HDFC ERGO, Surana has...
HDFC ERGO has partnered with Park+ to provide a seamless digital car insurance experience to over 2 crore Park+ users.
HDFC ERGO General Insurance, a leading private general insurance company in India, has partnered with Park+, a popular auto-tech super app, to offer a fully digital motor insurance experience. This collaboration aims to revolutionize the motor insurance industry by providing convenience, reliability, and a streamlined digital process. With over 2...
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...
ICICI Lombard and Mahindra Finance have entered into a partnership for the distribution of motor insurance products.
ICICI Lombard General Insurance, a leading private general insurer in India, has partnered with Mahindra & Mahindra Financial Services Limited, a prominent non-banking finance company, to offer motor insurance products to Mahindra Finance's customers. This collaboration aims to provide accessible and tailored insurance solutions by combining...
ICICI Lombard’s film turns snoring into a wake-up call for heart health, ETBrandEquity
ICICI Lombard, a leading insurance company, has launched a digital campaign for World Heart Day to raise awareness about the potential health risks associated with snoring. The campaign, titled "Reframing Snoring," aims to educate people about the link between snoring and sleep apnea, a condition that can lead to serious health complications such...
TCS enables ICICI Lombard to deliver a fully automated multi-region disaster recovery on the AWS cloud.
ICICI Lombard, a leading insurance company in India, has successfully implemented a fully automated AWS multi-region disaster recovery switchover with the help of Tata Consultancy Services (TCS). This achievement establishes ICICI Lombard as one of the first insurance companies in India to achieve fully automated multi-region resilience on the...
Bajaj Allianz General Insurance, Tata AIG, and United India have joined CRED Garage as insurance partners.
CRED, a fintech platform, has expanded its selection of motor insurers on CRED garage to include Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of curated insurance providers on the platform to seven, including ACKO, ICICI Lombard, Zurich Kotak, and Digit. CRED members can now evaluate and...