New Delhi-headquartered insurance company Max Life Insurance, has announced the launch of Max Life Innovation Labs, an accelerator programme to harness InsurTech solutions.
The agency channel has seen its contribution to insurance distribution declining as an increasing number of banks tie up with insurance companies to sell insurance products.
A recent study by IT major Cisco has said that India was the most attacked nation in the IoT space during the last quarter, with financial services and transportation sectors seeing the highest number of breaches.
EY has advised state-run National Insurance, United India Insurance and Oriental Insurance to merge within 18 months, reported Indian publication Business Standard.
True balance, the Fintech app, has associated with ICICI Lombard General Insurance to provide health insurance at affordable premium to its tier II and tier III Indian customers. These group policies aimed at promoting affordable and accessible health insurance.
Sales of passenger vehicles in India plunged by 31% in July, the ninth straight month of declines and the sharpest one-month drop in more than 18 years, according to figures released by the Society of Indian Automobile Manufacturers (SIAM).
Acko insurance, an InsurTech player in India, has partnered with OYO hotels and homes to provide complimentary insurance to the hotel's guests against baggage loss, accidental cover and hospitalisation amongst other benefits.
The government funded national health insurance scheme for the poor, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY), is expected to see a payout of INR23bn ($323m) this year for high value claims of over INR30,000 each.
To ensure the financial security and future of their families, fathers in India are known most often to sacrifice their own well-being.
Prime Minister Narendra Modi has called the issue of population explosion a challenge, and urged the central and state governments to devise schemes to tackle it.