The Insurance Regulatory and Development Authority of India (IRDAI) has permitted life insurers to issue all new life insurance documents to the policyholders in digital format.
The International Financial Services Centres Authority (IFSCA) has formed a panel of industry experts to formulate a plan to develop international retail business at the International Financial Services Centre (IFSC).
Business volumes of nearly all life insurers have been hit due to the COVID-19-led lockdown according to a report by Motilal Oswal Financial Services.
Aditya Birla health (ABH), a standalone private health insurer plans to introduce an array of services and product solutions that will enable its customers to take care of their health needs.
The central government may classify insurance as a strategic sector under a new privatisation policy, along with sectors such as railway, oil and gas, defence, space and atomic energy.
Domestic and foreign insurance intermediaries can now set up shop in all Special Economic Zones (SEZs) in India.
Public sector Canara bank has tied up with three insurance companies to sell the recently launched short-term Corona Kavach insurance policy which covers COVID-19.
Insurers are raising premiums on term plans, with some companies revising their rates for the third time between March and July this year. Term plans are pure protection covers that pay a pre-determined sum assured on the death of the insured.
A study commissioned by SAP Concur Asia, a global brand for integrated travel, expense, and invoice management solutions, has found that 88% of the workforce in India prefers to have the flexibility of working from home.
Messaging app WhatsApp India is set to launch pilot schemes in insurance, micro-pension and lending in partnership with domestic service providers.