Aditya Birla introduces the Super Term Plan, offering a combination of health services and flexible coverage options.
Bajaj Allianz introduces region-specific health insurance plans to cater to distinct state-wise requirements.
Bajaj Allianz General Insurance has launched a new health insurance policy that is customized to meet the unique healthcare needs of each state in India. The policy, called "State-wise Health Insurance Policy," takes into account the local hospital infrastructure, prevalent health concerns, and affordability levels of each state to provide...
Tata AIA has introduced two new fund offers (NFOs) aimed at capturing the potential of India’s growth narrative.
The Indian government's recent budget announcement has set the stage for a significant increase in disposable incomes, which is expected to drive consumption growth across various sectors. With the new tax regime, individuals with incomes up to ₹12.75 lakh will have zero tax liability, resulting in more spending power. This presents a unique...
ED withdraws summons issued to Arvind Datar in Care Health ESOP investigation
According to a recent news report, advocate Datar, who has a history of representing the Securities and Exchange Board of India (SEBI) in high-profile cases, such as the Sahara fundraising matter, has made a statement to Enforcement Directorate (ED) officials. During an interaction, Datar is said to have informed the ED officials that lawyers...
Empowering global dreams with USD Plans by HDFC Life International – Companies
As the world celebrates Pravasi Bharatiya Divas, a day dedicated to honoring the contributions of Non-Resident Indians (NRIs), HDFC Life International is taking the opportunity to acknowledge the aspirations of both NRIs and Resident Indians with global ambitions. On this special occasion, Rahul Prasad, CEO of HDFC Life International and Re...
CEO Siddhartha Mohanty of LIC says stake acquisition in health insurance company to be decided by March 31.
The Life Insurance Corporation of India (LIC), the country's largest insurer, is planning to expand its presence in the insurance market by acquiring a stake in a health insurance company. According to CEO Siddhartha Mohanty, a decision on the potential acquisition is expected to be made by the end of March, before the close of the current...
HDFC Life has appointed Pushkar Wadhone as its new Vice President of Human Resources.
HDFC Life, a leading insurance company, has appointed Pushkar Wadhone as its new Vice President of Human Resources. Wadhone brings over a decade of experience in HR leadership across diverse industries, including logistics, healthcare, and life sciences. He is an alumnus of XLRI Jamshedpur, one of India's premier business schools, with a...
Best LIC Policy in 2025: Jeevan Anand Offers ₹30 Lakh with Daily Investment of ₹200
The Life Insurance Corporation of India (LIC) offers a popular investment scheme called "Jeevan Anand Policy" that provides a safe and profitable way to collect funds worth lakhs of rupees with a daily deposit of just ₹200. This policy is a term maturity plan, where the policyholder pays a premium for a specified period, such as 30 years, and...
ICICI Prudential Life has achieved the highest claim settlement ratio of 99.04% in the second quarter of the fiscal year 2025. Here’s how other insurance companies rank in terms of claim settlement ratio:* ICICI Prudential Life: 99.04% * [Insert other insurers’ ratios] Note: The claim settlement ratio is a key metric that indicates the percentage of death claims settled by an insurer out of the total claims received. A higher ratio suggests a better track record of settling claims.
ICICI Prudential Life Insurance has achieved a claim settlement ratio of 99.04% for the July-September quarter of FY2025, the highest among all life insurance companies in the country. The company settled claims worth Rs 451.05 crore during this period, with an average claim settlement turnaround time of just 1.2 days. According to Amish Banker,...
LIC Bima Sakhi Yojana launched with concept of ‘Har Ghar Insurance’: Goa CM Sawant
The Life Insurance Corporation of India (LIC) has launched a new initiative called 'Bima Sakhi Yojana' with the concept of 'Har Ghar Insurance', aiming to provide insurance coverage to every household in the country. The scheme was launched by Goa Chief Minister Pramod Sawant in the presence of top officials from LIC. The Bima Sakhi Yojana is a...
LIC CEO Mohanty stated that the firm will finalize acquiring a significant stake in a health insurance company by March 31.
The Life Insurance Corporation of India (LIC) is planning to reveal details of its latest acquisition by the end of the current fiscal year, according to MD and CEO Siddhartha Mohanty. The state-owned insurance company is in the final stages of acquiring a major stake in a standalone health insurance company, with the goal of finalizing the deal...
LIC Obtains ISO 22301:2019 Certification for Business Continuity from BSI
The Life Insurance Corporation of India (LIC) has achieved a significant milestone by being awarded the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This prestigious certification is a global benchmark for business continuity management and recognizes LIC's ability to...
LIC of India has been awarded the ISO 22301:2019 certification for Business Continuity Management System by the British Standards Institution.
The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification recognizes LIC's operational resilience, business continuity planning, and risk management capabilities,...
LIC secures Guinness World Record for selling 5.8 lakh insurance policies in 24 hours
The Life Insurance Corporation of India (LIC), a government-owned insurer, has achieved a remarkable feat by earning a Guinness World Records title for selling the most life insurance policies in 24 hours. On January 20, 2025, a total of 452,839 agents of LIC successfully issued an impressive 588,107 life insurance policies across India. This...
Star Health achieves highest sustainability score among Indian insurance companies
Star Health and Allied Insurance Company has achieved a significant milestone by securing the highest sustainability score among insurance companies in the Indian insurance sector. According to the S&P Global Corporate Sustainability Assessment, Star Health Insurance has been recognized as India's most sustainable insurance company for 2024. The...
Star Health becomes India’s largest Home Healthcare provider
Star Health & Allied Insurance Company, a leading health insurance provider in India, has achieved a significant milestone by expanding its Home Health Care (HHC) initiative to 100 locations across the country. Launched in July 2023, the program has made a significant impact, now serving over 85% of Star Health Insurance's customer base with...
Star Health faces a GST demand of Rs 49 crore across multiple states.
The Star Health and Allied Insurance Co Ltd has been served with 25 tax demand notices amounting to Rs 49 crore by the Goods and Services Tax (GST) authorities across multiple states. The demands are related to alleged violations of GST laws in connection with coinsurance transactions. The notices were received by the company from different GST...
Star Health and Allied Insurance Co Ltd received 25 tax demands totaling Rs 49 crore.
Star Health and Allied Insurance Co Ltd, a health insurance company, has received 25 tax demand orders from various Goods & Services Tax (GST) and Central Excise authorities. The total demand amounts to approximately Rs 49 crore, inclusive of penalties. The tax demands relate to alleged non-compliance with GST rules, specifically regarding...
Star Health Insurance awarded Best Health Insurance Company of the Year at InsureNext Global Conclave & Awards 2025.
Star Health and Allied Insurance Company Ltd., India's largest retail health insurance provider, has been recognized as the "Best Health Insurance Company of the Year" at the InsureNext Global Conclave & Awards 2025. This prestigious award is a testament to the company's mission to transform healthcare accessibility through innovation. Anand Roy,...
Toothlens Launches India’s First Cashless Dental OPD Insurance with Star Health.
Toothlens, in collaboration with Star Health, Allied Insurance Company, and Vizza Broking Services, has launched India's first cashless Dental OPD insurance program. This innovative initiative addresses the critical healthcare gap in India by providing individuals with cashless access to preventive and essential dental care, ensuring financial...
Star Health receives a Rs 49 crore Goods and Services Tax (GST) demand from tax authorities.
Star Health and Allied Insurance Company Limited has received 25 tax demand orders from the Goods and Services Tax (GST) authorities across various states, totaling Rs 49 crore, including penalties. These demands have been issued to the company's zonal offices in seven states, including Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana, and...
Techmagnate wins digital mandate for Aviva Life Insurance
Techmagnate, a digital marketing agency based in India, has been appointed to handle the digital mandate for Aviva Life Insurance Company India Limited, a joint venture between UK-based Aviva Plc. and Dabur Invest Corp. The agency will support Aviva Life Insurance in refining its digital strategy, improving online visibility, and enhancing...
One-eighth of car owners prefer fixing their vehicles over buying new ones, according to Aviva’s research.
According to a recent study by Aviva, one out of every eight car owners would rather repair their vehicle rather than replacing it, even if it's no longer a viable option economically. The research, which surveyed 1,000 car owners in the UK, found that 12.5% of respondents would opt for repair over replacement, despite the potential costs and...
Aviva paid out £1.89 billion in protection claims.
Aviva, a leading insurance company, has reported that it paid out more than £1.89 billion in individual and group protection claims in 2024. This includes over 62,000 claims, with 97.1% of individual claims received being paid. The majority of claims paid were on life policies, including terminal illness benefit, with 98.8% of claims being paid,...
Can weight loss jabs mean slimmer profits for Aviva, L&G, and other life and pensions companies?
The article discusses the potential impact of weight-loss jabs, also known as injectable treatments, on the profits of life and pensions companies such as Aviva and L&G. In recent years, there has been a significant increase in the demand for weight-loss treatments, with more people seeking non-surgical options to slim down. This trend has led to...
Bullerwell & Co’s client is thrilled to receive a £5,000 grant from the Aviva Broker Community Fund, benefitting the Bedford region.
Bullerwell & Co, a leading insurance brokerage firm, is thrilled to announce that one of its clients has won £5,000 in the Aviva Broker Community Fund. This prestigious award is a testament to the hard work and commitment of the client, who has demonstrated a strong sense of community spirit and dedication to making a positive impact in their...
Amanda Blanc, Chief Executive Officer of Aviva, discusses the UK pension scene and market volatility at 7:03 a.m. Eastern Daylight Time on March 19, 2025.
Ms. Amanda Blanc is a seasoned business executive and leader, currently serving as the Chief Executive Officer (CEO) and Executive Director at Aviva Plc. She has an impressive track record of holding prominent positions in the insurance industry, including CEO-EMEA at Zurich Insurance Group AG, CEO at AXA Insurance Designated Activity Co., and...
Aviva selects AutoRek’s automated reconciliation solution to streamline their operations
Aviva, a leading insurance, wealth, and retirement business in the UK, has chosen AutoRek, a leading provider of automated reconciliation solutions, to implement a seamless and compliant reconciliation and CASS (Client Assets, Responsibilities, and Securities) process. This collaboration aims to increase efficiency and compliance by automating...
Bajaj Allianz Life has implemented the Bima-ASBA facility.
Bajaj Allianz Life Insurance, a leading Indian private insurer, has introduced the Bima-ASBA facility, a new initiative by the Insurance Regulatory and Development Authority of India (IRDAI) aimed at streamlining the insurance premium payment process. As the first insurance company to adopt this facility, Bajaj Allianz is leveraging the Unified...
Fastest Insurers to Settle Claims within 3 Months:
- ICICI Lombard General Insurance: 98.04% claims settled within 3 months
- Bajaj Allianz General Insurance: 96.45% claims settled within 3 months
- HDFC Ergo General Insurance: 95.52% claims settled within 3 months
- Apollo Munich Health Insurance: 94.95% claims settled within 3 months
- Max Bupa Health Insurance: 94.64% claims settled within 3 months
Slowest Insurers to Settle Claims within 3 Months:
- United India Insurance: 73.45% claims settled within 3 months
- New India Assurance: 75.13% claims settled within 3 months
- National Insurance: 76.23% claims settled within 3 months
- Oriental Insurance: 77.15% claims settled within 3 months
- Universal Sompo General Insurance: 78.21% claims settled within 3 months
The Insurance Regulatory and Development Authority (IRDAI) has released its handbook on Indian Insurance Statistics for 2023-24, which provides insights into the claim settlement ratios of various insurance companies in India. The claim settlement ratio helps policyholders understand the proportion of claims an insurance company honors or pays...
Policybazaar introduces 100% claim settlement option for planned hospitalizations on select health insurance policies.
Policybazaar, a leading insurance platform, has introduced a 100% claim promise on planned hospitalizations for select health insurance policies. This initiative aims to provide a hassle-free and financially secure experience for policyholders, ensuring that they can focus on their recovery without worrying about hospital bills. The benefit is...
Best insurance company in India: 90% claims settled each by Aditya Birla, New India, HDFC ERGO; Bajaj, Star, Shriram lowest.
A recent report by the Insurance Brokers Association of India (IBAI) for the financial years 2023-24 and 2022-23 has revealed that four insurance companies in India have consistently cleared more than 90% of claims made by beneficiaries. The top performers include Aditya Birla Health, HDFC Ergo, and New India Assurance, which achieved claim...
According to a report by the brokers association, the Indian insurance companies that reject claims the least are revealed, providing insight into the claims settlement records of various insurers.
A recent report by the Insurance Brokers Association of India (IBAI) has revealed that the claim-to-settlement ratio for general insurance in India has decreased to 86% in 2022-23, down from 87% in the previous fiscal year. This means that 14% of claims were rejected by insurance companies. The report also found that the claims repudiation ratio,...
Bajaj Finserv may end partnership with Allianz by first half of CY25, potentially as early as March-end.
Bajaj Finserv is considering ending its partnership with Allianz, a German-based insurance company, as early as March 2025. The potential breakup comes after a long-standing joint venture between the two companies in the insurance sector. According to sources, Bajaj Finserv is likely to exit the joint venture, Bajaj Allianz General Insurance and...
The Competition Commission of India (CCI) has given its approval for 360 ONE Fund’s acquisition of a stake in Bharti AXA Life Insurance.
The Competition Commission of India (CCI) has approved the acquisition of a stake in Bharti AXA Life Insurance by 360 ONE and Bharti Life Ventures. This move paves the way for the completion of the transaction, which was announced earlier. Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA, a French insurance company....
Aditya Birla Capital partners with Open Network for Digital Commerce (ONDC) to provide financial services.
Aditya Birla Capital Limited (ABCL) has achieved a significant milestone by becoming the first BFSI company to go live on the Open Network for Digital Commerce (ONDC) platform for all three core financial services: lending, insurance, and mutual fund investments. This move reinforces ABCL's commitment to leveraging India's Digital Public...
Fastest Insurers to Settle Claims within 3 Months:
- ICICI Lombard General Insurance: 98.04% claims settled within 3 months
- Bajaj Allianz General Insurance: 96.45% claims settled within 3 months
- HDFC Ergo General Insurance: 95.52% claims settled within 3 months
- Apollo Munich Health Insurance: 94.95% claims settled within 3 months
- Max Bupa Health Insurance: 94.64% claims settled within 3 months
Slowest Insurers to Settle Claims within 3 Months:
- United India Insurance: 73.45% claims settled within 3 months
- New India Assurance: 75.13% claims settled within 3 months
- National Insurance: 76.23% claims settled within 3 months
- Oriental Insurance: 77.15% claims settled within 3 months
- Universal Sompo General Insurance: 78.21% claims settled within 3 months
The Insurance Regulatory and Development Authority (IRDAI) has released its handbook on Indian Insurance Statistics for 2023-24, which provides insights into the claim settlement ratios of various insurance companies in India. The claim settlement ratio helps policyholders understand the proportion of claims an insurance company honors or pays...
Aditya Birla Capital Introduces Lending, Insurance, and Investments on Open Network for Digital Commerce (ONDC)
Aditya Birla Capital (ABCL) has become the first BFSI company to go live with three core financial services - lending, insurance, and mutual fund investments - on the Open Network for Digital Commerce (ONDC) platform. This development reinforces ABCL's commitment to leveraging India's Digital Public Infrastructure (DPI) to democratize open...
Policybazaar introduces 100% claim settlement option for planned hospitalizations on select health insurance policies.
Policybazaar, a leading insurance platform, has introduced a 100% claim promise on planned hospitalizations for select health insurance policies. This initiative aims to provide a hassle-free and financially secure experience for policyholders, ensuring that they can focus on their recovery without worrying about hospital bills. The benefit is...
Best insurance company in India: 90% claims settled each by Aditya Birla, New India, HDFC ERGO; Bajaj, Star, Shriram lowest.
A recent report by the Insurance Brokers Association of India (IBAI) for the financial years 2023-24 and 2022-23 has revealed that four insurance companies in India have consistently cleared more than 90% of claims made by beneficiaries. The top performers include Aditya Birla Health, HDFC Ergo, and New India Assurance, which achieved claim...
According to a report by the brokers association, the Indian insurance companies that reject claims the least are revealed, providing insight into the claims settlement records of various insurers.
A recent report by the Insurance Brokers Association of India (IBAI) has revealed that the claim-to-settlement ratio for general insurance in India has decreased to 86% in 2022-23, down from 87% in the previous fiscal year. This means that 14% of claims were rejected by insurance companies. The report also found that the claims repudiation ratio,...
New India Assurance and Aditya Birla Life Insurance’s Health Insurance Claim Settlements in Fiscal Year 2023
The Insurance Brokers Association of India has released data on health insurance claims paid by various insurance companies for the year ending March 2023. According to the data, New India Assurance Co. Ltd. ranked among the top players in terms of health claims paid, with an impressive 95% of claims paid. Aditya Birla Health Insurance came in...
HDFC Ergo General Insurance considers issuing bonds, sources indicate.
India's HDFC Ergo General Insurance Company is planning to raise 3.5 billion rupees (approximately $11.47 million) through the sale of subordinated bonds with a 10-year maturity period. The company has invited bids from bankers and investors for the issue, with the bidding process set to take place on March 13. The interest rate for the bonds has...
ICICI Lombard hit with ₹273-crore tax demand for settling motor insurance claims under GST.
ICICI Lombard General Insurance Company Limited has received a tax demand of ₹273,44,50,284 from the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate. The order relates to an industry-wide issue regarding the applicability of Goods and Services Tax (GST) on salvage and ineligible Input Tax Credit (ITC) on motor claims...