Government considers ₹5,000 crore capital infusion for three public sector insurance companies as losses resurface.
Vijayan emphasized that strengthening the operational aspects of insurance companies requires more than just increasing capital. Over the past decade, the number of employees in these companies has drastically decreased, from approximately 16,000 to around 7,000 per company. This significant reduction in workforce has likely impacted the...
Today marks the last day to enroll in Affordable Care Act (ACA) health plans in most states, as the deadline arrives without a subsidy deal in place.
The deadline to select an Affordable Care Act (ACA) health insurance plan has passed in most states, leaving millions of Americans to make difficult decisions about their health coverage. The expiration of federal subsidies at the start of the year has driven up health costs, and lawmakers are still debating how to address the issue. The...
Map: See Where ACA Health Insurance Enrollment Dropped in 2026
The disappearance of Affordable Care Act (ACA) subsidies has left millions of households facing significant increases in health insurance costs. According to a report by the Centers for Medicare & Medicaid, there are 1.4 million fewer people enrolled in insurance through ACA marketplaces compared to January 2025. This decline is most pronounced...
California bill aims to rein in mental health coverage denials that leave kids without care
California is facing a mental health crisis, particularly among its young people. A recent study found that 94% of those surveyed between the ages of 14 and 25 reported struggling with mental health challenges, and one-third rated their mental health as fair or poor. However, accessing mental health care is a significant challenge due to a lack...
SWISS and Edelweiss are limiting passengers to carrying a maximum of two powerbanks each in the cabin due to concerns over battery fires.
SWISS and Edelweiss, two airlines under the Lufthansa Group, have introduced new rules for carrying powerbanks on board, effective immediately. The decision comes after two recent incidents involving lithium-ion battery packs on short-haul flights, which emitted smoke. To ensure safety, passengers are now allowed to carry only two powerbanks in...
Aviva refuses to pay £80,000 insurance claim for terminally ill husband
A woman, whose husband has been diagnosed with terminal lung cancer, has had her claim for a life insurance payout rejected by Aviva. The couple has been paying premiums for 24 years, including terminal illness cover, which promises an £80,000 payout if the policyholder is diagnosed with a terminal illness with less than 12 months to live....
Tata AIA Premier SIP is a top ULIP option in 2025 for goal-based and systematic investment planning.
Tata AIA Life Insurance's Premier SIP is gaining popularity among investors who prioritize goal-based investing. This Unit Linked Insurance Plan (ULIP) allows individuals to plan for specific milestones, such as funding a child's education, securing retirement, or accumulating wealth for major life events, while maintaining life insurance...
A mountain of transgressions and shattered vows
The article discusses the breach of trust by the Life Insurance Corporation of India (LIC), the country's largest insurer, with its customers. The concept of "uberrima fides" or utmost good faith is a fundamental principle in insurance, which demands complete honesty from both parties. However, LIC has consistently violated this principle by...
LIC Schemes: LIC has introduced two new plans, offering potentially high returns.
The Life Insurance Corporation of India (LIC) has introduced two new insurance products, LIC Jan Suraksha and LIC Bima Lakshmi, which will be available for sale starting October 15. Both schemes are non-linked and non-participating, meaning they are not affected by market fluctuations, ensuring a safe investment. These products cater to different...
Earn a monthly pension of up to ₹44,000.
The Life Insurance Corporation (LIC) of India has introduced the Smart Pension Plan 2025, a retirement planning solution that provides a guaranteed monthly income for life in exchange for a one-time lump sum investment. This non-linked, non-participating annuity plan is available for a minimum investment of ₹1 lakh. The plan's payout structure is...
LIC of India will launch 2 new schemes starting tomorrow, namely LIC’s Jan Suraksha and LIC’s Bima Lakshmi.
The Life Insurance Corporation of India (LIC) is set to launch two new schemes, LIC's Jan Suraksha and LIC's Bima Lakshmi, starting tomorrow. These schemes aim to provide financial security and protection to individuals and their families. Here are the details of the two schemes: LIC's Jan Suraksha LIC's Jan Suraksha is a micro-insurance plan...
LIC clocks 14.6% growth in individual premium for June
The Life Insurance Corporation of India (LIC) has reported a significant increase in individual premiums for the month of June 2025. According to data released by the Life Insurance Council, LIC's individual premiums grew by 14.6% year-on-year, outpacing the 12.12% growth rate of private life insurers. This robust growth is a positive sign for...
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...
Healthcare providers’ body demands immediate restoration of cashless services by Star Health Insurance
The Association of Healthcare Providers (AHPI) has suspended cashless services in several hospitals across India, including prominent chains like Care Hospitals, Manipal Hospital, and Max Hospitals, among others. This move is in response to a dispute with Star Health Insurance, one of the leading health insurance companies in the country. AHPI...
Rising Health Insurance Complaints in India: Key Data Insights
Complaints against health insurers in India are on the rise, indicating growing consumer awareness and the importance of effective grievance redressal mechanisms. According to Insurance Samadhan, a grievance platform, there was a 45% increase in complaints in Q2 2025 compared to the previous quarter, with 974 cases involving claims worth over...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
A consumer panel in Chandigarh has ordered an insurance company to pay Rs 25 lakh to a policyholder for unjustly denying a claim.
The District Consumer Disputes Redressal Commission-I in Chandigarh has ordered Star Health and Allied Insurance Company to pay Rs 25 lakh to the heirs of a deceased policyholder, Sarita Dutta alias Sarita Sharma, whose medical claim was wrongly repudiated. The policyholder had purchased a health insurance policy from Star Health in 2018 for a...
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...
TCS Strengthens Partnership with Aviva UK to Enhance Life and Pensions Customer Experience – FF News | Fintech Finance
Tata Consultancy Services (TCS) has strengthened its partnership with Aviva UK, a leading insurance company, to enhance the life and pensions customer experience. The partnership aims to leverage TCS' technology expertise and Aviva's industry knowledge to create a more seamless and personalized experience for Aviva's customers. As part of the...
Tata Consultancy Services (TCS) has expanded its partnership with UK-based investment firm Aviva, taking on the management of an additional 1.1 million policies.
Tata Consultancy Services (TCS) has strengthened its partnership with UK-based investment firm Aviva to manage an additional 1.1 million policies. This expansion is part of a long-standing relationship between the two companies, with TCS already handling a significant portion of Aviva's policy administration. Under the terms of the agreement, TCS...
Tata Consultancy has expanded its partnership with Aviva.
Tata Consultancy Services (TCS) has announced an expansion of its partnership with Aviva UK, a leading insurance, wealth, and retirement provider in the UK. The partnership will see TCS' subsidiary, Diligenta UK, manage over 6.5 million policies on behalf of Aviva, including an additional portfolio of life insurance business. This expansion is a...
Aviva tops the 2025 UK Commercial Insurance Broker Survey as the market leader.
Aviva has received high praise from brokers in the 2025 UK Commercial Insurance Broker Survey conducted by GlobalData. The survey found that Aviva led the market in 10 out of 12 categories, including underwriting flexibility, digital capabilities, and AI integration. These elements are crucial in the rapidly changing insurance landscape, and...
Aviva Life Insurance introduces Smart Vitals, a pioneering fixed health benefit plan that incorporates wellness rewards.
Aviva Life Insurance has introduced a novel insurance plan called Smart Vitals, a first-of-its-kind fixed health benefit plan that incorporates wellness rewards. This innovative plan is designed to provide policyholders with a comprehensive health insurance coverage, while also encouraging them to prioritize their well-being through various...
Aviva Life Insurance has introduced Smart Vital, a pioneering fixed health benefit plan that incorporates wellness rewards, as reported by Magzter.
Aviva Life Insurance has introduced a groundbreaking fixed health benefit plan called Smart Vital. This innovative plan is designed to provide policyholders with a comprehensive health insurance solution that not only covers medical expenses but also encourages wellness and rewards healthy habits. Smart Vital is a first-of-its-kind plan that...
Axa’s retail direct director is leaving to rejoin Aviva.
David Pearce, a former director at Axa, has announced that he will be leaving the company after four years to rejoin Aviva, where he previously worked for over 15 years. Pearce first joined Aviva in 2005 as a claims handler and worked his way up to become the head of retail for new business trading in 2020. He left Aviva in 2022 to join Axa as...
Jammu and Kashmir government constitutes UT-Level Insurance Committee to enhance insurance coverage
The Government of Jammu and Kashmir has established a Union Territory Level Insurance Committee (UTLIC) to oversee the implementation of the UT Insurance Plan. This committee aims to increase insurance awareness and penetration throughout the Union Territory. The decision was formalized through a government order issued by the General...
A tug-of-war is brewing over cashless health insurance, posing a potential threat to policy holders.
A recent standoff between hospitals and health insurance providers in India has raised concerns among policy-holders about the availability of cashless health insurance services. The Association of Healthcare Providers of India (AHPI) had advised its member hospitals to suspend cashless services provided by Bajaj Allianz, citing issues such as...
CRED has expanded its insurance network by partnering with Bajaj Allianz, Tata AIG, and United India on its garage platform.
CRED, a fintech company, has expanded its motor insurance offerings on its CRED Garage platform by partnering with three new insurance providers: Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of insurance providers on the platform to seven, including existing partners ACKO, ICICI Lombard,...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
AHPI revokes suspension of cashless services for Bajaj Allianz policyholders
The Academy of Hospital Administration (AHA) and the Insurance Provider, Bajaj Allianz, have come to a resolution regarding the suspension of cashless services for Bajaj Allianz policyholders. Recently, the AHA had revoked the suspension, allowing policyholders to once again avail of cashless services at empaneled hospitals. The suspension was...
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...
On October 8, 2025, insurance agents and associations are likely to raise the issue of Goods and Services Tax (GST) with the Insurance Regulatory and Development Authority of India (IRDAI) and the Finance Ministry.
The insurance industry in India is facing a significant issue related to the Goods and Services Tax (GST) and Input Tax Credit (ITC). Private insurers have reduced distributor payouts by 15-18% to offset the loss of ITC, following the GST exemption on life and health insurance premiums. This move is expected to have a significant impact on...
National Insurance Awareness Day: Insurers Increasingly Invest in Wellness as Health Plans Undergo Transformation
The health insurance landscape in India is undergoing a significant transformation, shifting from a traditional safety net for emergencies to a wellness partner that encourages policyholders to adopt healthier lifestyles. Insurers are now incorporating wellness-linked benefits into mainstream health plans, using digital tools such as...
The latest claim settlement ratio of health and general insurance companies was released by IRDA in 2025. According to the data, Navi and Acko have taken the lead, while Star Health and Zuno have fallen below the 90% mark.
The rising medical inflation has made it challenging for individuals to bear medical expenses without a comprehensive health insurance policy. In India, the Insurance Regulatory and Development Authority (IRDAI) releases an annual list of claim settlements by health and general insurance companies. The claim settlement ratio, which refers to the...
The insurance industry is seeking government assistance 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 planning 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...
More competition may benefit policyholders, according to Aditya Birla Health Insurance CEO Mayank Bathwal.
Aditya Birla Health Insurance CEO, Mayank Bathwal, discussed the benefits of the new insurance bill, Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, and its potential to increase competition and improve penetration in the market. With the FDI limit raised to 100%, Bathwal expects new players to enter the market, bringing...
Farhan Akhtar leads Aditya Birla Sun Life Insurance’s new #YeAkelaHiKaafiHai campaign for Super Term Plan
Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched a new campaign, #YeAkelaHiKaafiHai, to promote its newly introduced Super Term Plan. The campaign features actor, director, and musician Farhan Akhtar, who showcases the plan's unique benefits in a series of digital films. The Super Term Plan is a comprehensive insurance...
The Bengaluru consumer panel has ruled that a hospital’s delay is not a valid reason for an insurer to deny a claim, ordering the insurance company to pay Rs 2.6 lakh.
The Bangalore Urban II Additional District Consumer Disputes Redressal Commission has ordered Aditya Birla Health Insurance to pay a claim of Rs 2.6 lakh to a policyholder, Latha K, after the company denied her claim citing a delay in hospital paperwork. Latha's son, Pavan, was admitted to KK Hospital in July 2023 after a road accident and...
HDFC ERGO has partnered with Consumr.ai to enhance its customer intelligence capabilities.
Consumr.ai, a leading customer intelligence platform in India, has been selected by HDFC ERGO to pilot a proof-of-concept (POC) aimed at transforming the insurance customer journey. The POC will utilize Consumr.ai's proprietary AI Twins technology, which creates virtual representations of consumer cohorts based on real behavioral data. This...
HDFC ERGO General Insurance Wins Duck Creek Standard of Excellence Customer Award at Formation ’25
Duck Creek Technologies, a global intelligent solutions provider, has announced HDFC ERGO General Insurance Company Limited as a 2025 Standard of Excellence Customer Award winner. HDFC ERGO, India's leading private sector general insurer, has been recognized for its digital transformation and innovation in the insurance industry. The company has...
Posterscope India brings HDFC ERGO to the heart of Mumbai’s daily commute
HDFC ERGO General Insurance has launched an innovative Out-of-Home (OOH) campaign in collaboration with Posterscope India, aiming to integrate the brand into the daily routines of Mumbai commuters. The campaign transforms everyday travel stops into reminders of security, trust, and presence, connecting with people at moments that matter most. The...
Sharp premium drop hits general insurers in August; New India Assurance down 47% MoM
The Indian insurance sector experienced a decline in premium collections in August, with several leading insurers reporting sharp drops on a month-on-month (MoM) basis. In the general insurance segment, New India Assurance saw the steepest decline, with premiums falling 47% MoM to ₹2,197 crore. However, the company attributed this drop to the...
HDFC Ergo and Tata AIG have joined other insurers in reducing distributor commissions.
The Indian government has introduced a significant change in the Goods and Services Tax (GST) on individual health and life insurance premiums, reducing it from 18% to 0% effective September 22, 2025. However, this change also means that insurance companies can no longer claim Input Tax Credit (ITC) on services such as brokerage and commission...
CRED has expanded its insurance network by partnering with Bajaj Allianz, Tata AIG, and United India on its garage platform.
CRED, a fintech company, has expanded its motor insurance offerings on its CRED Garage platform by partnering with three new insurance providers: Bajaj Allianz General Insurance, Tata AIG, and United India Insurance. This brings the total number of insurance providers on the platform to seven, including existing partners ACKO, ICICI Lombard,...
Insurance premium collections rose in August, driven by Bajaj Allianz and New India Assurance.
The Indian general insurance sector experienced modest year-on-year growth in premium collections for August, according to data from the General Insurance Council. However, several major players reported significant sequential declines in premiums compared to July. ICICI Lombard General Insurance saw a 2.1% year-on-year increase in gross direct...
Top insurance companies have successfully leveraged technology to revolutionize their approach to customer service, setting a new standard for the industry.
SBI General Insurance has emerged as the top performer in the motor insurance category. The company, which has partnered with 21 original equipment manufacturers (OEMs) for motor insurance, reported a moderate increase in the segment in the financial year 2024. Notably, it settled 2,70,716 motor own damage claims, with over 7,148 claims for...
ICICI Lombard appoints Parag Lokhande to lead AI, data science, and startup strategy
ICICI Lombard has appointed Parag Lokhande as the Head of Data Science, AI, and Startup Initiatives. This move signifies the company's push towards AI-led innovation and collaboration with startups. Lokhande will be responsible for developing advanced machine learning solutions and engaging with emerging ventures to future-proof the insurer's...
ICICI Lombard has completed a cross-region disaster recovery (DR) upgrade using Amazon Web Services (AWS).
ICICI Lombard, in partnership with Amazon Web Services (AWS), has successfully completed a cross-region disaster recovery (DR) upgrade. The upgrade involved relocating the company's secondary setup from Mumbai to Hyderabad, enabling continued access to critical applications during disruptions. The new system features automated failover and...