Bulk annuities latest: Deals for Standard Life, Aviva, L&G
Several UK companies have recently secured buy-ins for their defined benefit (DB) pension schemes, ensuring the benefits of their members are protected. Amtico, a flooring manufacturer, completed a transaction with Standard Life last month, securing the benefits of 425 members. The deal also ensures that members with both DB and defined contribution (DC) pension arrangements, which are managed by Standard Life, retain the link between them. Alex Oakley, bulk annuity transaction manager at...
Niva Bupa reported a strong Q4 with a 36% increase in premium growth, and their FY25 profit saw an increase of ₹214 crore.
Niva Bupa Health Insurance has reported a remarkable 161% increase in its profit after tax (PAT) for the financial year 2025, reaching ₹214 crore from ₹82 crore in the previous year. The company's Gross Written Premium (GWP) also saw a significant increase, with a 36% year-on-year rise to ₹2,395 crore in the fourth quarter and a 32% increase to ₹7,407 crore for the entire year. The insurer's financial health has improved, with a solvency ratio of 3.03, up from 2.55 in the previous year,...
Expanding Coverage: How Insurance Solutions Aim To Reach The Last MileInsurance companies are continually seeking innovative ways to extend their coverage to remote and underserved populations, a demographic often referred to as the last mile. This expansion is driven by advances in technology and evolving business models that make it feasible to offer insurance products to areas and communities that were previously inaccessible or unprofitable.One of the key strategies in reaching the last mile involves leveraging digital platforms and mobile technology. By using mobile apps and digital tools, insurance companies can offer their services more efficiently and at a lower cost. This approach not only helps in penetrating deeper into rural and isolated areas but also in making the insurance process more user-friendly and accessible for potential clients.Another approach is the development and implementation of microinsurance products tailored to the specific needs of low-income households and individuals in these areas. Microinsurance policies have lower premiums and are designed to provide basic coverage against specific risks, making them more affordable and relevant to people who may not have been able to afford traditional insurance products.Furthermore, partnerships between insurance companies and local organizations, such as community groups, NGOs, and small businesses, play a crucial role in expanding coverage. These local partners can provide vital insights into the needs and preferences of the target population, help in product development, and assist in distribution and claims settlement processes.Innovative distribution channels, including agents and brokers who are familiar with the local context, are also being employed. Training these agents to understand the products and the needs of their communities enables them to effectively communicate the value of insurance, thereby increasing penetration rates.Moreover, the use of data analytics and artificial intelligence (AI) is becoming more prevalent. These technologies can help in assessing risks more accurately in areas where traditional data may be scarce, and in designing products that better match the needs of the last mile populations. Additionally, they can streamline operations, reduce costs, and enhance customer service, making insurance solutions more viable and attractive.The effort to reach the last mile with insurance solutions also involves working closely with governments and regulatory bodies to create an enabling environment. This includes advocating for regulatory frameworks that support innovation and the development of inclusive insurance markets.Ultimately, the goal of expanding insurance coverage to the last mile is not only to increase the customer base of insurance companies but also to contribute to the economic resilience and well-being of these communities. By providing protection against unforeseen events and risks, insurance can play a critical role in helping individuals and families avoid falling into poverty and in supporting their journey towards economic stability and growth.
The insurance industry in developed economies typically has a larger general insurance business compared to life insurance. However, in India, the life insurance business is three times bigger than the general insurance business. This is because in emerging economies, people often rely on life insurance policies with investment components or fixed deposits as their primary safety net. As wealth creation increases, individuals begin to seek out core insurance solutions, leading to growth in the...
HDFC Life has partnered with upGrad to launch an internship-led skilling program in the life insurance sector.
HDFC Life, a leading life insurer in India, has partnered with upGrad, a global skilling major, to launch a unique internship program called the "Insurance Fundamentals Program". This program aims to provide certification in life insurance, as well as practical experience and a career pathway for participants. The program consists of a 3-week self-paced online course, followed by a four-month paid internship with HDFC Life for learners who complete the program and meet the internship selection...
Tata AIA Life has launched a unit-linked health plan.
Tata AIA Life Insurance has introduced a new unit-linked health insurance plan called Tata AIA Health SIP. This plan is similar to unit-linked insurance plans (ULIPs), but it focuses on providing both health insurance and investment opportunities for investors. The key features of the plan include no premium allocation charges, allowing the investor's premium amount to be directly utilized for health coverage and investment. Additionally, the plan offers tax-free withdrawals from the 6th...
Kotak Gen2Gen Income Wins Product of the Year 2025 Award
Kotak Mahindra Life Insurance Company Ltd (Kotak Life) has been awarded the prestigious 'Product of the Year 2025' award in the 'Life Insurance – Savings Plan' category for its innovative product, Kotak Gen2Gen Income. The recognition is based on a nationwide survey conducted by NielsenIQ, involving 1,800 consumers across India. This is the second consecutive year that Kotak Life has received this award, demonstrating the company's commitment to consumer-centric innovation. The Kotak Gen2Gen...
Without affordable health insurance, all Wyoming residents suffer.
The Mountain Health Co-Op, one of two insurers offering individual insurance in Wyoming, has announced its withdrawal from the state's health insurance marketplace. This decision affects approximately 11,000 members, who must now find a new health insurance carrier before next year. The co-op's departure is attributed to high claims costs and significant losses in Wyoming, prompting the company to focus on its operations in Idaho and Montana instead. The withdrawal of Mountain Health Co-Op is...
India’s first private general insurer, Royal Sundaram, has completed 25 years of operation.
Royal Sundaram, India's first private general insurance company, has completed 25 years of operations. The company was launched in 2000, marking a significant milestone in the country's insurance landscape. At that time, the Indian insurance market was dominated by public sector companies, and Royal Sundaram's entry paved the way for private players to participate in the segment. Over the years, Royal Sundaram has established itself as a reputable and trusted brand, offering a wide range of...
PNB MetLife combines insurance with value-based equity investing.
If you're looking to advertise your company and connect with your customers, there are various ways to collaborate with us. Our team is skilled in designing and creating effective advertising campaigns, both in print and digital formats, which can be featured on our website and in our print magazine. This allows you to reach a wide audience and increase your brand's visibility. In addition to advertising campaigns, we can also help organize events that cater to your specific needs. These...
The government shutdown debate centers on two key issues: healthcare and immigration, specifically concerning individuals in the U.S. illegally. The healthcare aspect revolves around the Affordable Care Act (ACA), also known as Obamacare, which has been a point of contention since its inception. Republicans have sought to repeal and replace the ACA, citing concerns over its cost and effectiveness, while Democrats have fought to preserve and expand it, arguing it provides essential health coverage to millions of Americans.The immigration component of the debate focuses on the treatment of undocumented immigrants, particularly those brought to the U.S. as children, known as Dreamers. Democrats have pushed for a pathway to citizenship for these individuals, arguing it is a matter of humanitarian justice and economic sense, as many Dreamers are integrated into American society, attending school, working, and serving in the military. Republicans, however, have emphasized the need for border security and stricter immigration laws, often linking these to any discussions about the legal status of undocumented immigrants.The government shutdown occurs when Congress fails to pass or the President fails to sign appropriations bills that fund government operations, leading to the cessation of non-essential federal services. In the context of the healthcare and immigration debates, a shutdown might happen if lawmakers cannot agree on provisions related to these issues within the budget bills. For instance, if Democrats insist on including protections for Dreamers or funding for ACA programs, and Republicans refuse, agreeing on a budget becomes impossible, leading to a shutdown.This political stalemate is not just about policy; it’s also about political leverage and public perception. Both parties seek to position themselves in a way that garners public support, often framing the debate in terms of principles rather than practicalities. The outcome of such debates can have significant implications for the country, affecting not just the immediate issues at hand but also the broader political landscape and future policy directions.
The government shutdown has sparked a heated debate between Democrats and Republicans over healthcare for immigrants. The White House and Republican lawmakers claim that Democrats want to provide free healthcare to undocumented immigrants, which Democrats deny. The controversy centers around a provision in the Democrats' funding proposal that would reverse changes made by the One Big Beautiful Bill Act, which restricted Medicaid eligibility for noncitizens. The Act, signed by President Trump,...
Aviva has appointed Navinder Dhillon as the CEO of Aviva Canada, according to Coverager.
Aviva has announced the appointment of Navinder Dhillon as the new CEO of Aviva Canada. This move is part of the company's effort to strengthen its leadership team and drive growth in the Canadian market. Dhillon brings a wealth of experience in the insurance industry, having held various senior roles in Canada and internationally. As CEO of Aviva Canada, Dhillon will be responsible for leading the company's strategy and operations in Canada. He will oversee the development and implementation...
Breaking the ‘limit mein’ mindset in advertising involves challenging traditional constraints and embracing innovative strategies to effectively connect with the target audience. It’s about thinking beyond conventional boundaries and exploring fresh perspectives to create impactful campaigns that resonate with consumers.
In the advertising world, a ‘limit mein’ mindset can manifest in various ways, such as adhering to established formulas, being risk-averse, or clinging to familiar demographics. To break free from this mindset, advertisers must be willing to experiment, take calculated risks, and push the envelope in terms of creativity and messaging.
By doing so, brands can tap into new markets, foster deeper connections with their audience, and ultimately drive business growth. It requires a willingness to challenge assumptions, listen to diverse voices, and stay attuned to the evolving needs and preferences of consumers.
Some key strategies for breaking the ‘limit mein’ mindset in advertising include:
- Embracing diversity and inclusivity: Ensuring that campaigns reflect the complexity and richness of the target audience, rather than relying on stereotypes or narrow demographics.
- Encouraging creative risk-taking: Providing a safe space for innovative ideas to flourish, even if they deviate from traditional approaches.
- Leveraging emerging technologies: Staying ahead of the curve by incorporating cutting-edge tools, platforms, and formats to engage consumers in new and exciting ways.
- Fostering a culture of experimentation: Encouraging a mindset of continuous learning, testing, and iteration to optimize campaign performance and stay relevant in a rapidly changing market.
By adopting these strategies, advertisers can break free from the ‘limit mein’ mindset and unlock new possibilities for connecting with their audience, driving brand growth, and staying ahead of the competition.
Niva Bupa Health Insurance Company has launched a campaign called "Yeh hua na health insurance" to promote its latest product, ReAssure 3.0, which offers unlimited coverage for every claim, every time, and for all illnesses. The company aims to revolutionize the health insurance industry by putting an end to the sum insurance race, where consumers are forced to choose a sum insured without knowing what medical expenses they may face in the future. The campaign film tells the story of a...
Tata AIA has launched two new initiatives, Health Buddy and Health SIP, as part of its effort to expand its focus on healthcare.
Tata AIA Life Insurance has introduced a new virtual health companion called Health Buddy, which is available exclusively through the Tata AIA mobile app. This platform provides round-the-clock access to preventive health services and specialist consultations, covering a wide range of needs such as routine check-ups, vaccinations, and in-person consultations for women's health conditions. Health Buddy also offers dental wellness services, medical second opinions, critical illness support,...
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 receive all their premiums back or an early exit option. This aims to combat the fear of losing money if the policyholder lives. Rao highlights that...
Niva Bupa has partnered with Zepto to emphasize the importance of true financial freedom.
Niva Bupa Health Insurance Company has partnered with Zepto, a popular delivery platform, to raise awareness about the importance of health insurance in a unique and engaging way. The partnership aims to connect with consumers across key metropolitan areas through a mix of outdoor advertising, branded customer experience, and digital integration. The campaign kicks off with a playful out-of-home (OOH) campaign featuring a "banter" between the two brands, highlighting the importance of health...
Applications are now open for the LIC Golden Jubilee Scholarship for the academic year 2025-26.
The Life Insurance Corporation of India (LIC) is offering the LIC Golden Jubilee Scholarship for the academic year 2025-26. This scholarship is designed to support students from economically weaker sections who are pursuing higher studies. To be eligible for the scholarship, students must have passed Class 10 or 12 with a minimum of 60% marks or an equivalent grade. Additionally, the annual family income of the applicants should not exceed Rs 4,50,000. The scholarship offers a reward of up to...
Health care premium assistance is coming to an end, prompting officials to sound the alarm.
Congressmen Seth Magaziner and Gabe Amo, along with leaders from Rhode Island's health care industry, held a joint press conference to express their concerns about looming federal cuts to health care assistance. The cuts, which are set to take effect at the end of the year, would impact thousands of Rhode Islanders who rely on federal tax credits to afford health insurance premiums. The tax credits, which are available to individuals and families based on income, have made health care...
Tesco and Aviva have formed a partnership to provide life insurance to shoppers.
Aviva, a leading insurance provider, has partnered with Tesco Insurance & Money Services to offer life insurance to Tesco shoppers and Clubcard members. This partnership aims to provide customers with access to life cover while benefiting from Tesco's customer rewards. The life insurance proposition will be marketed by Tesco through various channels, including online, social media, and in-store promotions. Customers will be able to obtain a quote and apply for cover digitally. According to Ban...
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 as hypertension, arrhythmia, and heart failure. According to the company, an estimated 10.4 crore Indians suffer from sleep apnea, often undiagnosed....
LIC witnessed Rs 1,100 crore inflows on the first day of offering GST-free life cover, according to a report.
The Life Insurance Corporation of India (LIC) witnessed a significant surge in inflows, exceeding Rs 1,100 crore on the first day after the goods and services tax (GST) was removed from individual traditional life insurance policies. This sharp increase is a notable contrast to the Rs 5,000 crore of monthly premium income from retail policyholders seen in August 2025. The GST exemption, which took effect on September 22, 2025, applies to term, unit-linked, and traditional life insurance...
Pluto Health has expanded its care model to include Medicare, Medicaid, and major commercial plans.
Pluto Health, a healthcare technology company, has announced the expansion of its care model to include Medicare, Medicaid, and major commercial plans. This move aims to increase access to high-quality, affordable healthcare for a wider range of patients. Pluto Health's care model focuses on value-based care, where healthcare providers are incentivized to deliver high-quality, cost-effective care. The company's platform uses advanced analytics and artificial intelligence to identify high-risk...
Revised GST Rates and Their Impact on Car Buyers
The Goods and Services Tax (GST) rates in India have undergone significant changes, affecting various industries, including the automotive sector. The revised GST rates have a substantial impact on car buyers, influencing their purchasing decisions and the overall cost of vehicle ownership.
Current GST Rates for Cars
The current GST rates for cars in India are as follows:
- 5% GST for electric vehicles
- 18% GST for vehicles with engine capacity up to 1200cc and length up to 4000mm
- 20% GST for vehicles with engine capacity between 1200cc and 1500cc, and length up to 4000mm
- 22% GST for vehicles with engine capacity above 1500cc and length above 4000mm
- 50% of the total tax amount (cess) for luxury vehicles, in addition to the GST rate
Impact on Car Buyers
The revised GST rates have both positive and negative effects on car buyers:
- Increased Cost: The higher GST rates for vehicles with larger engine capacities and lengths have increased the cost of these cars, making them more expensive for buyers.
- Decreased Cost: The lower GST rate for electric vehicles has made them more affordable, encouraging buyers to opt for eco-friendly options.
- Cess on Luxury Vehicles: The additional cess on luxury vehicles has further increased their cost, making them less appealing to buyers who are looking for premium vehicles.
- Effect on Sales: The revised GST rates have influenced car sales, with some segments experiencing a decline due to the increased costs, while others, like electric vehicles, have seen a surge in demand.
Factors Affecting Car Buyers’ Decisions
Several factors influence car buyers’ decisions in the face of revised GST rates:
- Budget: The increased cost of vehicles due to higher GST rates may force buyers to reconsider their budget and opt for more affordable options.
- Fuel Efficiency: Buyers may prioritize fuel-efficient vehicles to minimize their overall cost of ownership.
- Environmental Concerns: The lower GST rate for electric vehicles may attract buyers who are environmentally conscious and willing to invest in eco-friendly options.
Conclusion
The revised GST rates have a significant impact on car buyers in India, affecting their purchasing decisions and the overall cost of vehicle ownership. While the increased costs may deter some buyers, the lower GST rate for electric vehicles presents an opportunity for the growth of the eco-friendly segment. As the Indian automotive industry continues to evolve, car buyers must carefully consider their options and prioritize their needs in light of the revised GST rates.
The Indian government has announced significant reforms to the Goods and Services Tax (GST) regime, reducing the four-tier structure to two core rates of 5% for essentials and 18% for other goods. A new 'de-merit' slab of 40% has been introduced for sin products and luxury items. The reforms have a notable impact on the automotive sector, particularly on four-wheelers. Effective September 22, 2025, small cars with 1200 cc petrol engines, 1500 cc diesel engines, and a size of under four meters...
The Republican Party’s claim that Democrats are responsible for the impending government shutdown is a misleading talking point. This assertion is based on the idea that Democrats control both the House and the Senate, and therefore, they should be able to pass a funding bill without any issues. However, this oversimplifies the complexities of the legislative process and ignores the role of Republican lawmakers in the shutdown saga.In reality, the GOP’s talking point is an attempt to deflect blame and shift the narrative away from their own role in the shutdown crisis. By pointing fingers at the Democrats, Republicans are trying to avoid accountability for their own actions, which have contributed to the stalemate.The fact is that the shutdown is a result of a complex interplay of factors, including disagreements over border security, spending levels, and policy priorities. Both parties have made demands and taken positions that have contributed to the impasse. To suggest that one party is solely responsible for the shutdown is a gross simplification of the situation.Moreover, the Republican Party’s claim that Democrats are obstructionists is not supported by the facts. Democrats have put forward several proposals to avoid a shutdown, including a stopgap funding measure that would have kept the government open until a more comprehensive agreement could be reached. However, these efforts have been rebuffed by Republicans, who have insisted on including border wall funding and other contentious provisions in the funding bill.Ultimately, the GOP’s misleading talking point on the shutdown is a classic case of political spin. By manipulating the narrative and selective presentation of facts, Republicans are trying to shape public opinion and gain a political advantage. However, this tactic is unlikely to succeed, as the American public is increasingly savvy and can see through such blatant attempts to deceive.
As the threat of a government shutdown looms, Republicans have resorted to a misleading talking point, claiming that Democrats are responsible for the impending crisis. This argument, however, is based on a flawed premise. The GOP contends that Democrats are refusing to negotiate, but in reality, they are simply trying to hold Republicans to their previous commitments. The root of the issue lies in the disagreement over funding for a border wall, a campaign promise made by President Trump....
Tata AIA Life has launched the Smart Pension Secure Plan.
Tata AIA Life Insurance has introduced the Smart Pension Secure Plan, a Unit-Linked Pension Plan (ULIP) designed to cater to individuals seeking flexible and market-linked growth opportunities for their retirement corpus. The plan is linked to the Tata AIA Alpha 50 Index Pension Fund, which invests 80-100% of its assets in equity aligned with the Nifty Alpha 50 Index. The New Fund Offer (NFO) is priced at ₹10 per unit and is available until January 31, 2025. The Smart Pension Secure Plan...
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 requested additional reductions in July, threatening to suspend cashless services if its demands were not met. As a result, policyholders will now be...
Private hospitals in India have suspended services for members of the country’s health insurance program, leaving millions of people without access to medical care.
India's flagship public health insurance program, Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (PM-JAY), is facing significant challenges. The program, launched in 2018, promises to cover hospital expenses up to ₹5 lakh (around $5,725) per family, but it has run into problems over non-payment to private hospitals. In Haryana, 650 private hospitals have suspended services to PM-JAY patients due to ₹490 crore ($59 million) in pending reimbursements, which date back six to nine months. This...
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, and Niva Bupa. Star Health leads with 13,308 complaints, with 10,196 related to claim rejections or slashes. CARE Health's COO, Manish Dodega, defended...
ManipalCigna Sarvah has been named the ‘Product of the Year 2025’ in the health insurance category.
ManipalCigna Health Insurance, a leading standalone health insurer in India, has received the prestigious 'Product of the Year 2025' award in the Health Insurance category for its flagship product, ManipalCigna Sarvah. This recognition is based on an independent consumer survey conducted by NielsenIQ, which celebrates the product's strong consumer appeal, innovative features, and relevance to evolving healthcare needs across India. The Product of the Year award is the world's largest...
NIACL AO Result 2025 has been declared and is available at newindia.co.in, a direct link to download the scorecard is provided.
The New India Assurance Company Limited (NIACL) has released the scorecard for its 2025 Administrative Officer (AO) Scale-I recruitment. Candidates who participated in the selection process can now check their individual scores on the official website at newindia.co.in. To access the scorecard, candidates need to log in using their roll number and date of birth. The NIACL AO recruitment is a significant opportunity for candidates to join a leading government-owned general insurance provider....
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 designed to provide policyholders with a comprehensive and simplified guide to their health insurance coverage. The guide will cover key aspects of...
The 2012 Sreesanth injury insurance row involving Rajasthan Royals began with an Indian Premier League (IPL) nets session and eventually made its way to the Supreme Court.
A long-standing dispute over a knee injury sustained by former Indian cricketer S. Sreesanth during the 2012 Indian Premier League (IPL) has reached the Supreme Court. The injury occurred during a practice session in Jaipur, and Sreesanth was subsequently ruled out of the season. The Rajasthan Royals, who had insured their squad under a special contingency policy worth over Rs 8.7 crore, filed a claim of about Rs 82 lakh with their insurer, United India Insurance Co. However, the insurance...
Tata AIA has launched two new funds that aim to capitalize on India’s expanding consumer market.
Tata AIA Life has introduced two new funds: the Tax Bonanza Consumption Fund and the Tax Bonanza Consumption Pension Fund. These funds are designed to capitalize on the changing consumption patterns in India, which have been driven by urbanization and increasing income levels. The funds will be open for subscription from March 24 to March 31, 2025, with each unit priced at Rs 10. India's consumption trends have undergone a significant transformation in recent years. The country's growing...
Beginning next month, Bajaj Allianz will no longer offer cashless treatment, and CARE Insurance has also received a notice, according to the Association of Healthcare Providers India (AHPI).
The Association of Healthcare Providers-India (AHPI) has directed its member hospitals in north India to suspend cashless treatment facilities for Bajaj Allianz General Insurance policyholders starting September 1, 2025. A similar notice has been sent to CARE Health Insurance, with a deadline of August 31, 2025, for a response. If no response is received, AHPI will also suspend cashless treatment facilities for CARE policyholders. This means that policyholders will have to pay for medical...
Niva Bupa has dismissed as baseless a viral social media post claiming the insurer denied a policyholder’s cashless claim.
A viral social media post on LinkedIn claimed that Niva Bupa Health Insurance had denied a cashless claim of Rs 61 lakh for a policyholder, Chandra Kumar Jain, who is battling Myeloid Leukaemia and requires a Bone Marrow Transplant (BMT) at Sir HN Reliance Foundation Hospital in Mumbai. However, Niva Bupa has clarified that the allegations are "baseless" and that the company had already approved a pre-authorisation cashless request of Rs 25 lakh, as well as an additional charge of Rs 77,000....
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 Insurance is a joint venture between Manipal Group and Cigna Corporation, a global health insurance company. The company offers a range of health...
Aviva is actively seeking to improve long protection application turnaround times for complex cases.
Aviva, an insurance company, has announced that it is working to improve the turnaround times for protection applications that require underwriting and a GP report. This comes after an adviser revealed that one particular application was expected to take 39 working days to be assigned to an underwriter. According to Daren Boys, Aviva's protection portfolio distribution director, over 80% of protection applications are still being processed efficiently through the company's straight-through...
PNB MetLife has introduced the Value Fund, a financial product designed to help investors create long-term wealth by leveraging the principles of value investing.
PNB MetLife has launched a new Value Fund, offering investors an opportunity to build long-term wealth through value investing. This approach focuses on identifying fundamentally strong companies that are available at attractive prices due to market neglect or cyclical downturns. The fund aims to deliver long-term capital growth by investing in undervalued companies with solid fundamentals. The PNB MetLife Value Fund offers several benefits, including long-term wealth creation, active fund...
California is preparing for a potential health insurance crisis.
California is facing a potential health insurance meltdown due to a combination of factors, including rising healthcare costs, changes in federal funding, and a surge in enrollments in the state's health insurance marketplace, Covered California. The state's health insurance market is at risk of destabilization, which could lead to higher premiums, reduced coverage options, and decreased access to healthcare for thousands of Californians. One of the primary concerns is the pending expiration...
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 later. While Star Health and Niva Bupa have suspended cashless claim settlement with all 22 Max Hospitals across the country, Tata AIG's suspension is...
We strive to make insurance relevant, personal, and accessible to every household, says HDFC Life’s ED-CBO
HDFC Life, a leading life insurance company in India, has witnessed broad-based growth across Tier 1, 2, and 3 cities, driven by higher policy sales and rising average ticket sizes. The company has a diversified product portfolio, including ULIPs, savings, protection, annuity, and group retirements, and is innovating with embedded products and term plans with return of premium. Vineet Arora, Executive Director and Chief Business Officer, HDFC Life, stated that a balanced portfolio and...
Chola MS Launches #SimpleHai Campaign to Simplify Insurance Processes
Cholamandalam MS General Insurance, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, has launched a new digital campaign called #SimpleHai. The campaign aims to shift the conversation around insurance from complexity to simplicity, encouraging people to stay insured and protected with confidence. It includes a series of films that use everyday life moments to show how insurance can be simple, transparent, and digitally powered. The campaign draws inspiration...
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 initiative, executed by Posterscope India, focuses on premium locations with high office-goer traffic and long dwell times. The Airport Road Metro...
Aviva has revealed that approximately five million Brits fail to secure their sheds and outbuildings, leaving them unprotected and vulnerable to theft.
A recent survey conducted by Aviva found that nearly three in 10 UK residents have experienced an attempted or actual break-in to their shed or outbuilding. Despite this, one in eleven people do not take measures to protect their shed or outbuilding, which is equivalent to around five million Brits. The survey also revealed that two-thirds of those who had their shed or outbuilding broken into also experienced a break-in or attempted break-in at their home. The average claim for outbuilding or...
15,200 hospitals have suspended cashless treatment for Bajaj Allianz policyholders due to unresolved issues.
The Association of Healthcare Providers India (AHPI) has expressed concerns over the reimbursement rates offered by Bajaj Allianz, a health insurance provider. Dr. Girdhar Gyani, Director General of AHPI, stated that the current rates are outdated and unsustainable, which may compromise patient care. The key issues raised by hospitals include outdated reimbursement rates, unilateral deductions, and delayed payments and approvals. Hospitals allege that Bajaj Allianz has refused to update...
Edelweiss Financial launches ₹3,000 million NCD issue with yields up to 10.25%
Edelweiss Financial Services Limited (EFSL) has announced the launch of a public issue of secured, redeemable non-convertible debentures (NCDs) worth up to ₹3,000 million. The issue consists of a base size of ₹1,500 million with a green-shoe option to retain an additional ₹1,500 million. The NCDs will be offered in 10 series with fixed coupon rates and tenures ranging from 24 to 120 months. Investors can choose from annual, monthly, or cumulative interest options, with effective annual yields...
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 hospitals such as Metro in Faridabad, Medanta in Lucknow, Rajiv Gandhi Cancer Hospital in New Delhi, Sarvodaya in Faridabad, and Yatharth Hospitals have...
PNB MetLife has consolidated its creative mandate with Cheil X India.
PNB MetLife India Insurance has made a significant change in its marketing strategy by consolidating its integrated creative agency account with Cheil X India. This decision comes after a competitive pitch process that involved multiple agencies, including incumbent ones. The move aims to unify the company's brand narrative in the highly competitive insurance market. Prior to this, PNB MetLife had multiple agencies handling its creative mandate. However, with the consolidation, Cheil X India...
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 Amazon Web Services (AWS) Cloud. The disaster recovery solution is designed to ensure business continuity in the face of unexpected disruptions and...
- Enhanced Risk Assessment: AI-powered algorithms analyze large amounts of data to better assess individual health risks, allowing for more accurate premium calculations and personalized policy offerings.
- Streamlined Claims Processing: Telemedicine and AI-driven systems automate claims processing, reducing administrative burdens and enabling faster reimbursement for policyholders.
- Personalized Wellness Programs: AI-driven health insurance platforms provide tailored wellness recommendations and preventive care advice, promoting healthier lifestyles and reducing the likelihood of costly medical interventions.
- Virtual Health Services: Telemedicine integrates with health insurance to offer virtual consultations, expanding access to care and reducing costs associated with in-person visits.
- Data-Driven Underwriting: AI analyzes extensive datasets to identify high-risk factors, enabling insurers to make more informed underwriting decisions and adjust premiums accordingly.
- Improved Patient Engagement: AI-powered chatbots and telemedicine platforms facilitate patient-insurer interactions, enhancing communication and fostering a more collaborative approach to healthcare management.
- Predictive Analytics for Disease Management: AI-driven predictive models identify patients at risk of developing chronic conditions, enabling proactive interventions and reducing long-term healthcare costs.
- Increased Transparency and Accessibility: AI-powered health insurance platforms provide policyholders with easy access to claims information, coverage details, and personalized health advice, promoting transparency and empowering informed decision-making.
The healthcare industry has undergone significant transformations in recent years, driven by the advent of artificial intelligence (AI) and the digital revolution. One of the key advancements in healthcare services is the emergence of telemedicine, which enables medical services to be delivered remotely through telecommunications technology, such as mobile phone networks. The integration of AI and telemedicine is poised to revolutionize the healthcare industry in the near future. Telemedicine...
Davos 2025: Bajaj Allianz can withstand turbulence, Allianz withdrawal not a concern, says CEO Tapan Singhel
At the Davos 2025 summit, Tapan Singhel, CEO of Bajaj Allianz, expressed confidence in the company's ability to withstand any turbulence in the market. This comes amid concerns over the withdrawal of Allianz, the German partner of Bajaj Allianz, from the Indian market. Singhel downplayed the impact of Allianz's withdrawal, stating that it is not a cause for worry. According to Singhel, Bajaj Allianz has a strong foundation and a well-diversified business, which will enable it to navigate any...
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 closely with the founders and leadership team to design and drive initiatives that enhance digital capabilities, integrate data-driven insights, and build...
Star Health’s latest campaign draws a stark line between care and crisis
Star Health Insurance has launched a new campaign film that highlights the emotional and financial struggles faced by families without health insurance. The film, released after World Insurance Day, uses a split-screen narrative to contrast the experiences of the same family with and without health insurance. On one side, the family is shown struggling with long hospital queues, delayed treatment, and financial stress, while on the other side, they are able to access priority consultations,...
A consumer panel has ruled against an insurance firm, ordering it to make a payout to a car owner in Pune.
The State Consumer Disputes Redressal Commission has upheld a decision in favor of a customer, Mansi Joshi, whose insurance claim for an accident-damaged vehicle was rejected by The New India Assurance Company. The insurance company had rejected Joshi's claim on the grounds that the vehicle's license had expired, despite the accident not being caused by the driver's actions. The Pune District Consumer Disputes Redressal Commission had earlier directed the company to pay the insurance amount...
Meet Tata AIA Health Buddy: Your New Virtual Health & Wellness Partner
Tata AIA Life Insurance has introduced "Tata AIA Health Buddy", a 24x7 health and wellness companion that provides comprehensive support to individuals and families in India. The service is designed to go beyond traditional life insurance, offering a range of health and wellness services that cater to the diverse needs of consumers. With Health Buddy, Tata AIA aims to be a true partner in everyday well-being, helping consumers stay prepared for life's uncertainties while promoting healthier,...
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 services, facilitating transactions between consumers and merchants. Aditya Birla Capital Ltd. (ABCL) is the parent company of ABCDL and is a non-banking...
US health insurance costs are expected to drastically increase due to the Trump administration’s newly implemented policies, which appear to be an attack on workers’ access to medical care.
The United States is facing a healthcare crisis as insurance costs are expected to rise sharply at the end of the year. The expiration of Affordable Care Act (ACA) marketplace subsidies and a $930 billion cut to Medicaid funding by the One Big Beautiful Bill Act (OBBBA) will undermine the health coverage of tens of millions of people. The Democrats are pledging to block passage of a spending resolution if Republicans do not make concessions on the ACA enhanced subsidies or restore Medicaid...
Bajaj Allianz Life has announced a record bonus of ₹1,833 crore for its policyholders for the financial year 2025.
Bajaj Allianz Life, a private life insurer, has declared a bonus for the 24th consecutive year, demonstrating its commitment to delivering value to customers through effective fund management and surplus distribution. The bonus will be distributed to policyholders of the company's traditional participating products, including Bajaj Allianz Life Ace, Bajaj Allianz Life Ace Advantage, and Bajaj Allianz Life Elite Assure. These plans are designed to provide long-term savings and life cover, and...
Edelweiss AMC has partnered with Snowflake to modernize its data architecture.
Edelweiss Asset Management Company (Edelweiss AMC) has partnered with Snowflake to modernize its data architecture, leveraging Snowflake's AI Data Cloud to improve risk management, security, and regulatory reporting. Prior to this partnership, Edelweiss AMC was using legacy databases and fragmented data silos, which led to reporting delays and slow integration of new data sources. With Snowflake, Edelweiss AMC has unified its data into a single, cloud-native environment, enabling the company...
Eight of the top 10 firms saw their market capitalization increase by a combined Rs 1.69 lakh crore, with Bajaj Finance leading the gains, while LIC and HUL were the only two to lose value.
The market capitalization (M-cap) of the top-10 firms in India witnessed a significant surge, with eight out of the ten companies adding a staggering Rs 1.69 lakh crore to their cumulative valuation. Bajaj Finance emerged as the leader of the rally, with its M-cap soaring by Rs 34,423.92 crore to reach Rs 4,51,941.92 crore. The other major gainers included HDFC Bank, whose M-cap rose by Rs 29,483.85 crore to Rs 9,32,921.85 crore, and ICICI Bank, which saw its valuation increase by Rs 23,144.55...
Former Aviva and Zurich tech leader joins Davies as group CIO
Davies, a leading provider of technology and operations solutions to the insurance and financial services industries, has announced the appointment of a former Aviva and Zurich technology leader as its new Group Chief Information Officer (CIO). The move is expected to strengthen Davies' technology capabilities and support the company's continued growth and expansion. The newly appointed Group CIO brings a wealth of experience to the role, having previously held senior technology positions at...
A former official of United India Insurance has been sentenced to 4 years imprisonment for involvement in corruption.
A Special Judge for CBI Cases in Vijayawada, A. Sitarama Krishna Rao, has convicted Kola Rama Narasimham, a Development Officer at the United India Insurance Co. Ltd.'s Kandukuru Branch, in a corruption case. Narasimham was found guilty of demanding a bribe of ₹10,000 from a complainant in exchange for forwarding an insurance claim file related to the death of a buffalo to the Divisional Office in Guntur. The complainant had allegedly been asked to pay the bribe by Narasimham, who was abusing...
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 choose from India's leading motor insurance providers in one place. CRED garage has enabled members to insure over 10 lakh vehicles without coverage...
Star Health Insurance has settled claims worth over Rs 2800 crore in Karnataka over the last 5 years.
Star Health Insurance, a leading health insurance provider in India, has announced that it has settled claims worth over Rs. 2800 crore in Karnataka over the last five years. This significant achievement demonstrates the company's commitment to providing comprehensive health insurance coverage to its customers in the state. The settlement of claims worth Rs. 2800 crore is a testament to Star Health Insurance's robust claims processing system, which ensures that policyholders receive timely and...
AHPI urges health insurance companies to revoke suspension and develop affordable and sustainable models.
The Association of Healthcare Providers - India (AHPI) has urged health insurance companies to restore cashless hospitalization services to policyholders. Thousands of policyholders in India are currently without access to cashless hospitalization due to disputes between hospitals and insurance companies. AHPI Director General Dr. Girdhar Gyani stated that the association has asked insurance companies to revoke the suspension of cashless services at hospitals that were removed from their...
ICICI Prudential Life has reported a claim settlement ratio of 99.60% for the first quarter of the fiscal year 2026.
ICICI Prudential Life Insurance has achieved a notable milestone in the insurance industry, declaring a claim settlement ratio of 99.60% for the period from April 2025 to June 2025. This ratio is the highest in the industry, showcasing the company's commitment to efficiently processing claims. The average time to settle a non-investigated death claim was a mere 1.1 days, demonstrating the company's dedication to providing prompt service to its customers. According to Amish Banker, Chief...
Aviva and Tesco have launched a life insurance partnership, as reported by Coverager.
Aviva, a leading insurance provider, has partnered with Tesco, a renowned supermarket chain, to offer life insurance products to Tesco's customers. This strategic partnership aims to provide affordable and accessible life insurance coverage to a wider audience. Under this partnership, Aviva will offer a range of life insurance products, including level term life insurance, decreasing term life insurance, and whole life insurance. These products will be available to Tesco customers through...
In India, Alzheimer’s and dementia are covered by insurance through various policies and schemes. Here’s an overview:
Health Insurance: Many health insurance policies in India cover Alzheimer’s and dementia, including:
- Individual Health Insurance Policies: Some insurance companies offer coverage for Alzheimer’s and dementia as part of their individual health insurance policies.
- Senior Citizen Health Insurance: Specialized senior citizen health insurance policies often cover age-related diseases, including Alzheimer’s and dementia.
- Critical Illness Insurance: Critical illness insurance policies may cover Alzheimer’s and dementia, providing a lump sum payment to help with treatment and care.
Government-Sponsored Schemes: The Indian government offers several schemes to support individuals with Alzheimer’s and dementia, including:
- Rashtriya Swasthya Bima Yojana (RSBY): A health insurance scheme for below-poverty-line families, which covers hospitalization expenses, including those related to Alzheimer’s and dementia.
- Ayushman Bharat: A national health protection scheme that provides coverage for secondary and tertiary care hospitalization, including treatment for Alzheimer’s and dementia.
- National Programme for the Healthcare of the Elderly (NPHCE): A program that provides health care services, including diagnosis, treatment, and care, for elderly individuals with Alzheimer’s and dementia.
Private Insurance Companies: Several private insurance companies in India offer policies that cover Alzheimer’s and dementia, including:
- ICICI Lombard: Offers a comprehensive health insurance policy that covers Alzheimer’s and dementia.
- Bajaj Allianz: Provides coverage for Alzheimer’s and dementia through its health insurance policies.
- Max Bupa: Offers a senior citizen health insurance policy that covers age-related diseases, including Alzheimer’s and dementia.
- Apollo Munich: Provides coverage for Alzheimer’s and dementia through its health insurance policies.
- Star Health: Offers a senior citizen health insurance policy that covers age-related diseases, including Alzheimer’s and dementia.
Limits and Exclusions: While many insurance policies cover Alzheimer’s and dementia, there may be limits and exclusions, such as:
- Waiting Period: A waiting period may apply before coverage kicks in.
- Sub-Limits: Sub-limits may apply for specific treatments or expenses.
- Exclusions: Certain expenses, such as long-term care or home care, may be excluded from coverage.
- Pre-Existing Conditions: Pre-existing conditions, including Alzheimer’s and dementia, may be excluded from coverage or subject to a waiting period.
It’s essential to review policy terms and conditions carefully and consult with an insurance expert to understand the coverage and limitations.
Families of patients with Alzheimer's disease or other forms of dementia often face uncertainty and financial burdens due to medical expenses and long-term care. While health and critical illness insurance policies can cover some hospitalization and severe-stage treatment costs, they usually exclude long-term care and routine support. Understanding what is included and excluded in these policies is crucial for effective financial planning. Health insurance policies generally cover...
Kotak Mahindra Life Insurance Introduces the EDGE Plan, a Unique Combination of Income and Life Insurance Coverage.
Kotak Mahindra Life Insurance Company Ltd. is celebrating its 25th anniversary of providing financial security to its customers. To mark this milestone, the company has launched a new life insurance product called Kotak EDGE (Early Defined Guaranteed Earnings). This comprehensive solution is designed to meet the evolving financial needs of modern consumers, who face numerous financial responsibilities that require immediate attention. Kotak EDGE offers a unique combination of immediate...
Norka Care health insurance registration opens today
The Norka Care health insurance scheme for expatriate Malayalis has been launched by Norka Roots, with registration beginning on September 22, 2025. The scheme was formally inaugurated by Kerala Chief Minister Pinarayi Vijayan at a function in Thiruvananthapuram. The health insurance plan offers coverage up to ₹10 lakh, with cashless treatment available at over 14,000 hospitals across India, including 500 hospitals in Kerala. The annual premium for a family consisting of parents and two...
An insurance company has been ordered to pay over Rs 98 lakh in compensation to a woman after her claim was initially denied following the death of her husband.
A city consumer commission in Chennai has ordered an insurance company, ICICI Prudential Life Insurance Co. Ltd, and its broker, Gennext Insurance Brokers Pvt Ltd, to pay over Rs 98 lakh in compensation to a woman, Swedha Pothiraj. Swedha's husband, Sreyas RV, had purchased a Rs 1 crore term life insurance policy in April 2020 and paid the required premiums. However, when Sreyas died from acute-on-chronic liver failure in 2023, the insurance company rejected the claim, citing "non-disclosure"...
Aviva has formed a life insurance partnership with Tesco.
Aviva has partnered with Tesco Insurance & Money Services to launch a life insurance product for Tesco customers and Clubcard holders. The new product aims to provide life cover while integrating Tesco's customer rewards program into the offering. The insurance plan, underwritten by Aviva, starts at a monthly premium of £5 and can be accessed through Tesco's insurance website or mobile devices. The partnership aims to leverage the digital and data capabilities of both brands to bring life...
The Insurance Regulatory and Development Authority of India (IRDAI) has initiated an investigation into a whistleblower complaint regarding the promoter stakes in Star Health and Allied Insurance, as well as Kiwi General Insurance.
The Insurance Regulatory and Development Authority of India (IRDAI) has received a whistleblower complaint alleging a conflict of interest involving WestBridge Capital, a private equity firm. The complaint claims that WestBridge Capital holds a significant stake in two insurance companies, Star Health and Kiwi General Insurance, which operate in the same segment of retail health insurance. This is in violation of IRDAI regulations, which prohibit a single promoter from holding a stake of 25%...
Mr. Keki Mistry – Chairman’s Speech At HDFC Life’s 25th Annual General Meeting (AGM) In Mumbai On 16th July 2025Ladies and gentlemen, esteemed shareholders, and fellow stakeholders, I am honored to stand before you today at the 25th Annual General Meeting of HDFC Life. As we gather here in Mumbai on this 16th day of July 2025, I am filled with a sense of pride and accomplishment, reflecting on the remarkable journey of our organization over the past quarter century.As we celebrate this significant milestone, I would like to take a moment to acknowledge the incredible contributions of our founding members, whose vision and perseverance have been instrumental in shaping HDFC Life into the institution it is today. Their unwavering commitment to excellence and customer satisfaction has been the bedrock upon which we have built our success.Over the past 25 years, HDFC Life has experienced unprecedented growth, navigating the complexities of the Indian life insurance market with agility and resilience. We have consistently demonstrated our ability to adapt to changing regulatory environments, evolving customer needs, and emerging market trends. Through it all, our focus has remained steadfast on delivering exceptional value to our policyholders, while fostering a culture of innovation, transparency, and accountability within our organization.As we look to the future, I am excited about the prospects that lie ahead. The Indian life insurance sector is poised for significant expansion, driven by increasing awareness about the importance of insurance, favorable demographics, and the government’s initiatives to promote financial inclusion. At HDFC Life, we are well-positioned to capitalize on these opportunities, leveraging our robust distribution network, diversified product portfolio, and strong partnerships to drive growth and deepen our penetration in the market.Our strategy for the future is built around several key pillars. First, we will continue to invest in digital transformation, enhancing our online platform and leveraging data analytics to improve customer engagement, streamline processes, and reduce costs. Second, we will focus on expanding our reach in underserved markets, utilizing innovative distribution channels and tailored product offerings to address the unique needs of these segments. Third, we will prioritize the development of our people, providing training and development opportunities to enhance their skills and capabilities, and foster a culture of innovation and entrepreneurship within our organization.As we embark on this next phase of our journey, I would like to express my sincere gratitude to our shareholders, whose trust and support have been invaluable to us. I would also like to thank our customers, who have placed their faith in us, and our employees, who have worked tirelessly to deliver exceptional service and drive our success. Your contributions have been instrumental in shaping HDFC Life into the organization it is today, and I look forward to continuing our partnership in the years to come.Before I conclude, I would like to highlight some of the key achievements of the past year. Despite the challenges posed by the pandemic, we have delivered strong financial performance, with significant growth in our top-line and bottom-line. Our solvency ratio remains robust, and we have made substantial progress in enhancing our operational efficiency and improving our customer satisfaction scores.In conclusion, as we celebrate our 25th anniversary, I am filled with a sense of pride, gratitude, and excitement for the future. I am confident that HDFC Life is well-positioned to continue its trajectory of growth and success, driven by our commitment to excellence, customer satisfaction, and innovation. Thank you.
As of March 31, 2025, the company's financial standing is strong, with Assets Under Management (AUM) totaling Rs. 3.36 lakh crores. This significant figure indicates the company's substantial holdings and investment portfolio. Additionally, the Embedded Value stands at Rs. 55,423 crores, which represents the present value of future profits from the company's existing business. The solvency ratio, a crucial measure of a company's ability to meet its long-term financial obligations, remains...
NORKA Care health insurance will exclude former expatriates from its coverage.
The NORKA Care health insurance project, set up by the Government of Kerala, has raised concerns that former expatriates who have returned to the state will not be included in the insurance coverage. The project is scheduled to be launched on September 22 by Chief Minister Pinarayi Vijayan. Those with NORKA membership can register for the project from September 22 onwards, with the last date for enrollment being October 21. The policy will be implemented on November 1. The insurance coverage...
Niva Bupa is a casualty of GST removal on individual health insurance because the removal of GST has significantly reduced the cost of health insurance for individuals, making Niva Bupa’s premiums less competitive. As a result, the company is facing a decline in sales and revenue, ultimately affecting its business operations and profitability. The removal of GST has led to a decrease in the premium amounts that individuals have to pay, making Niva Bupa’s offerings less appealing to customers who are now opting for more affordable options. This has put pressure on Niva Bupa to revisit its pricing strategy and restructure its products to remain competitive in the market.
The recent changes to the goods and services tax (GST) rate on insurance have put Niva Bupa Health Insurance Co. Ltd in a difficult position. The company must decide whether to remain competitive by not raising premiums, thereby sacrificing profit margin, or to become uncompetitive by raising premiums and protecting its profit margin. This dilemma arises because individual health insurance is exempt from GST, but other types of insurance, such as vehicle insurance, are still taxable....
Aviva and Tesco have launched a life insurance partnership.
Aviva and Tesco Insurance & Money Services have announced a new partnership to offer life insurance to Tesco customers. The partnership combines Tesco's strong brand and customer-centric focus with Aviva's expertise in life insurance, aiming to provide simple, affordable, and trusted life cover to customers. The life insurance proposition will be available through Tesco's online and social presence, as well as in hundreds of stores across the UK. The Aviva Life Insurance Plan for Tesco...
DT Next Campus: Kotak Life Insurance Programme
Kotak Life Insurance Company Ltd. has launched an initiative to provide financial assistance to students from Tamil Nadu and Maharashtra. The program aims to support students pursuing their undergraduate studies in the commerce stream. To be eligible, students must be enrolled in the first year of the B.Com program and have secured 60% marks or more in Classes 10 and 12. Additionally, the applicant's annual family income must be Rs 3,60,000 or less. The program offers a reward of up to Rs...
AHPI has requested hospitals to discontinue cashless treatment for Bajaj Allianz General Insurance policyholders, effective September 1.
The Ayushman Bharat Health Infrastructure (AHPI) has directed hospitals to discontinue cashless treatment for policyholders of Bajaj Allianz General Insurance from September 1. This decision comes after the insurer failed to clear outstanding dues to the tune of Rs 150 crore. Bajaj Allianz General Insurance is one of the leading insurance providers in India, and this move is expected to affect a large number of policyholders. According to reports, the insurer had not paid the dues to hospitals...
Health insurers are struggling financially, even after implementing increases in premium rates.
The Indian health insurance industry is facing a challenging time due to rising medical costs and increasing claims. Despite multiple premium hikes, insurers are struggling to contain losses, with many reporting deteriorating loss ratios. The main factor contributing to this trend is the estimated 14% inflation in medical-related costs, which is outpacing premium increases. New India Assurance, a state-owned insurer, saw its incurred claims ratio worsen to 109% in Q1 FY26, up from 106% a year...
Edelweiss MF’s Altiva has launched India’s first Hybrid Long-Short SIF, with Radhika Gupta stating that the goal is to achieve absolute returns while maintaining low volatility.
Edelweiss Mutual Fund has launched a new investment strategy, the Altiva Hybrid Long-Short Fund, under its Specialised Investment Fund (SIF) platform. The fund aims to deliver consistent, income-oriented returns through a combination of equity arbitrage, high-quality fixed income, and selective opportunities in special situations in equity markets. The new fund offer (NFO) will be open for subscription from October 1 to October 15. The Altiva Hybrid Long-Short Fund is an interval investment...
Understanding Return of Premium Health Insurance Plans: How They Work
Return of Premium (ROP) health insurance plans are a type of health insurance policy that returns a portion of the premiums paid if no claims are made during the policy term. Here’s how it works:
- Policy Purchase: The policyholder purchases an ROP health insurance plan with a specified policy term, usually several years.
- Premium Payments: The policyholder pays premiums regularly, usually monthly or annually, to maintain the policy.
- No Claims Made: If the policyholder does not make any claims during the policy term, they are eligible for a return of premium.
- Return of Premium: At the end of the policy term, the insurance company returns a percentage of the total premiums paid to the policyholder. This percentage can vary depending on the policy and insurance company.
- Claims Made: If the policyholder makes a claim during the policy term, they will not be eligible for the return of premium. However, the insurance company will still cover the medical expenses as per the policy terms.
- Policy Renewal: The policyholder can choose to renew the policy at the end of the term, and the process starts over.
ROP health insurance plans provide an incentive for policyholders to maintain good health and avoid making claims. They can be a cost-effective option for individuals who are healthy and do not expect to make frequent claims.
The health insurance industry is undergoing a significant transformation, with a focus on providing more value to policyholders beyond basic coverage. In a pioneering move, CARE Health Insurance has introduced the Return of Premium (ROP) Health Insurance Plan, which rewards policyholders with financial benefits and enhanced coverage for maintaining good health. This innovative plan is currently the only one of its kind available in the market. The ROP Health Insurance Plan offers a unique set...
Forbes 2025 World’s Best Auto Insurance Companies List
Auto insurance rates are increasing globally, with the average cost in the United States rising by 12% from 2024 to 2025, according to Bankrate's annual report. The Deloitte Center for Financial Services' 2025 Global Insurance Outlook report also notes that auto insurance premium growth has outpaced inflation and disposable income growth in the United Kingdom and Australia over the past three years. The main factors contributing to this price hike are rising repair costs, changes in government...
LIC to acquire a substantial stake in a pure health insurer, with an announcement expected by March 31.
The Life Insurance Corporation of India (LIC) is in the final stages of discussions to acquire a substantial stake in a pure health insurance company. According to Siddhartha Mohanty, Managing Director and CEO of LIC, the company is likely to announce the decision before March 31. This move is seen as a natural choice for LIC to expand its presence in the health insurance market. While Mohanty declined to reveal the name of the health insurer, reports suggest that LIC is in talks with Manipal...
Shardul Amarchand Mangaldas advises on Bajaj Group’s ₹24,000 crore acquisition of Allianz’s stake in insurance joint venture.
SAM's transaction team was led by two experienced partners, Shailaja Lall and Akshay Sachthey, who were supported by a team of associates including Anupam Choudhary, Poorvisha Jindal, and Nidhi Lakhotia. The team provided advice on all aspects of insurance and corporate law related to the transaction, ensuring that all legal requirements were met. In addition to the core transaction team, other experts from SAM were also involved in the transaction. Dr. Shardul S. Shroff, the Executive...
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 operational efficiency and customer experience. The integration of these solutions has enabled HDFC ERGO to accelerate product launches, streamline...
- Sabotaging Health Insurance Markets: The Trump administration’s actions to undermine the Affordable Care Act (ACA) have led to increased premiums and decreased enrollment, making healthcare less affordable for families.
- Expanding Junk Insurance Plans: The administration’s expansion of short-term, limited-duration insurance (STLDI) plans, also known as junk plans, has driven up costs for families by drawing healthy individuals away from comprehensive plans, increasing premiums for those who need coverage.
- Increasing Prescription Drug Costs: The Trump administration’s policies have failed to address the root causes of high prescription drug prices, allowing pharmaceutical companies to continue price-gouging, and passing the costs on to families.
- Cutting Funding for Health Programs: The administration’s cuts to funding for health programs, such as the ACA’s navigator program and the Centers for Disease Control and Prevention (CDC), have reduced access to healthcare services and driven up costs for families.
- Promoting Health Care Consolidation: The Trump administration’s policies have encouraged consolidation in the healthcare industry, leading to decreased competition and increased costs for families, as large healthcare systems and insurers use their market power to drive up prices.
The Center for American Progress has identified 5 ways the Trump administration is driving up healthcare costs for families. Expanding Junk Insurance Plans: The Trump administration has expanded the availability of short-term, limited-duration insurance (STLDI) plans, which do not provide comprehensive coverage and can leave families with significant medical bills. These plans, often referred to as "junk insurance," can deny coverage for pre-existing conditions, exclude essential health...
ManipalCigna Health Insurance has appointed Joydeep Saha as its new Managing Director and Chief Executive Officer.
ManipalCigna Health Insurance, a leading standalone health insurance company in India, has appointed Joydeep Saha as its new Managing Director and Chief Executive Officer. The appointment was made after receiving regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). Joydeep brings over two decades of experience in the insurance industry, with expertise in actuarial science, product development, and business strategy. Joydeep has been associated with...
ICICI Prudential Life achieved a claims settlement ratio of 99.6% in the June quarter.
ICICI Prudential Life Insurance has announced an impressive claims settlement ratio of 99.60% for the June quarter, with the company settling death claims worth ₹407 crore. This industry-leading ratio demonstrates the company's commitment to efficiently processing claims and providing timely support to policyholders' families. The 'Claim for Sure' service initiative, which promises to settle eligible claims within one day of receiving all necessary documents, has been particularly successful,...
AHPI Hospitals to halt cashless services for Bajaj Allianz from September – BW Healthcare
The Association of Healthcare Providers (India) (AHPI) has announced that its member hospitals will stop providing cashless services to policyholders of Bajaj Allianz General Insurance from September. This decision comes after prolonged negotiations between the two parties failed to yield a mutually acceptable agreement. The main point of contention is the reimbursement rates for healthcare services provided to Bajaj Allianz policyholders. AHPI, which represents over 2,500 hospitals across...
Four years after the incident, the family of a Bescom lineman has successfully won an insurance claim of Rs 10 lakh.
The family of Basavaraj Muthathi, a 34-year-old lineman who was electrocuted while working on a power line in Tumakuru, has finally received relief from the consumer court after a four-year battle. The II Additional District Consumer Disputes Redressal Commission in Bengaluru has directed New India Assurance Company Ltd to release Rs 10 lakh with 8% interest to Basavaraj's widow, Rekha, and their two young daughters. The court also awarded Rs 10,000 towards mental agony and litigation costs....
Tata AIA has introduced two new funds that focus on India’s sector leaders, offering a combination of long-term wealth creation and life insurance protection.
Tata AIA Life Insurance has launched two new funds, the Tata AIA Sector Leaders Index Fund and the Tata AIA Sector Leaders Index Pension Fund, which allow investors to invest in India's top-performing companies while ensuring their families' financial security with life insurance protection. The funds will be available for subscription at an initial price of ₹10 per unit during the New Fund Offer (NFO) period, which ends on September 22nd, 2025. The new GST norm coming into effect on the same...
Edelweiss AMC Supercharges Data-Driven, AI Transformation with Snowflake’s AI Data Cloud
Edelweiss Asset Management Company Ltd., one of India's fastest-growing mutual fund companies, has partnered with Snowflake to modernize its data infrastructure using Snowflake's AI Data Cloud. This transformation has boosted operational agility, enhanced investor experience, and reduced costs. With Snowflake's cloud-native infrastructure, Edelweiss AMC has achieved significant cost savings, reducing its data warehousing spending by 50%. The company has unified its data into a single...
Medical cost trend: Behind the numbers by PwC
The pharmaceutical industry is experiencing a surge in drug spending, with a significant increase of $50 billion (11.4%) in 2024, reaching a total of $487 billion at net manufacturer prices. This trend is expected to continue in the coming years, driven by the growth of new therapeutics in areas such as oncology, immunology, cardiovascular, obesity, and diabetes. One of the main contributors to this increase is the use of GLP-1 drugs, which are projected to account for 0.5% to 1.0% of the...
PNB MetLife has declared a bonus of ₹1,041.45 crore for the financial year 2025.
PNB MetLife India Insurance has announced a significant bonus for the 2024-25 financial year, amounting to ₹1,041.45 crore. This declaration represents a 12% increase from the previous financial year's bonus of ₹930 crore. As a result, over 5.68 lakh eligible participating policyholders will benefit from this bonus payout. According to Sameer Bansal, Managing Director and CEO of PNB MetLife, this bonus is the highest ever declared by the company. Bansal attributes this achievement to the...
Hospitals have accused health insurance companies, including Bajaj Allianz, of engaging in cartel practices by fixing low tariffs, which they claim is negatively impacting cashless services and patient care.
A dispute is brewing between hospitals and health insurers in India, with the Delhi Medical Association Nursing Home Forum (DMA NHF) accusing insurers of acting like a cartel. The Forum has written to the Insurance Regulatory and Development Authority of India (IRDAI) to investigate and ensure that hospitals are paid fair treatment charges. The issue centers around "common empanelment," where all insurance companies agree on prices to pay hospitals for different treatments. However, these...
The Supreme Court has ruled that an insurance company is not obligated to pay for the death of a person who was driving rashly.
The Supreme Court of India has ruled that insurance companies are not liable to pay compensation to the kin of drivers who die due to their own reckless or negligent driving. The court dismissed a claim petition filed by the family of a man who died in a car accident while driving at high speed and performing daredevil stunts. The family had demanded Rs 80 lakh in compensation from United India Insurance Company. The incident occurred on June 18, 2014, when N S Ravisha was driving a Fiat Linea...
LIC launches 2-month special revival campaign for lapsed policies
The Life Insurance Corporation of India (LIC) has introduced a special campaign to revive lapsed insurance policies. The campaign, which runs from August 18, 2025, to October 17, 2025, aims to benefit policyholders who were unable to pay premiums on time due to unfavorable circumstances. As part of this initiative, LIC is offering concessions of up to 30% on late fees for non-linked insurance plans. The concession on late fees is subject to a maximum amount of ₹5,000, with varying amounts...
PNB MetLife survey identifies Indian fathers’ financial saving habits into three distinct personas.
A recent survey conducted by PNB MetLife, a leading life insurer in India, has revealed that nearly two-thirds of Indian fathers consider themselves as "Hero Dads", who prioritize their family's financial security. The survey, which engaged over 6,000 fathers across the country, classified them into three distinct personas: "Hero Dads" (62%), "Thoughtful Dads" (29%), and "Disciplined Dads" (9%). The "Hero Dads" are guardians of their family's financial security, while "Thoughtful Dads" are...
GST Cut Brings Major Relief to Health Insurance Premium
The Indian government has announced that it will remove the 18% Goods and Services Tax (GST) on health insurance premiums starting September 22, 2025. This move is expected to provide significant cost relief to families across India, reducing the average premium burden by 18%. According to Dr. Selina Rajathi, Head of A&H Claims at Royal Sundaram, this GST exemption is a pivotal moment for health insurance in India, and families, particularly middle-income groups, will feel the immediate...
FWD Insurance has enhanced its FWD MyWell program by adding more health benefits to provide comprehensive care.
FWD Insurance has enhanced its "FWD MyWell" program, a comprehensive health and wellness solution that provides customers with a range of preventive care benefits. The program is designed to meet the diverse needs of customers, with a focus on delivering the best in health and wellness. The enhanced benefits include expanding membership tiers from four to six, reducing the minimum premium requirement to join the program, and introducing a wider variety of modern services such as alternative...