Indian low-cost airline SpiceJet has partnered with InsurTech player Go Digit to offer its passengers an insurance cover for COVID-19 treatment.
State-run insurers and pension funds may get the nod to invest in government-backed startup-focused fund-of-funds, depending on the outcome of talks among various government agencies.
While most firms are looking to retrench employees or slash salaries during the coronavirus-fuelled economic crisis, Future Generali India Insurance (FGII) has announced promotions, annual increments and variable pay-outs to all its employees according to a report from local news agency IANS.
Paytm, an e-commerce payment system and FinTech company, has announced that it is set to acquire Mumbai based private sector general insurer Raheja QBE, a move which would be its entry into the Indian general insurance market.
A survey conducted by the Insurance Institute of India (III) has revealed that COVID-19 will have a long-lasting impact on the insurance sector, which will have to accelerate digital transformation and reskill the workforce to stay relevant and competitive in the future.
Further volatility in India's investment markets amid the prevailing COVID-19 pandemic may increase pressure on GIC Re's financial performance and balance sheet fundamentals, says AM Best.
Bank of Baroda credit card holders can now purchase a COVID-19-cum-hospital-cash benefit insurance cover that provides financial support upon hospitalisation or on COVID-19 diagnosis.
The IRDAI has formed a nine-member working group to study the legal framework and feasibility of the insurance sector offering offer surety bonds for road contracts.
Truckers in India, in support of their demand for insurance cover, are protesting by honking the horns of their vehicles for one minute at 1300hrs every day. Their unique protest began on 1 July and will continue till 7 July.
Insurance Regulatory and Development Authority of India (IRDAI) had extended the renewal premium payment period for insurance policies four times in view of the countrywide lockdown imposed to curb the spread of COVID-19 in India. All insurance policies whose premium fell due after 25 March 2020 could have been paid before 31 May 2020.