India's central bank, Reserve Bank of India (RBI), wants banks to cap their stakes in capital intensive insurance companies at 20%, reported Reuters quoting three sources with knowledge of the matter.
Climate change will increase the frequency of flash droughts in India, which will have a negative impact on country's agriculture and irrigation according to a new study by Indian Institute of Technology (IIT) Gandhinagar.
Private health insurers are granting discounts on renewed policies of 80-100%, along with a host of other rewards and benefits, in a bid to motivate policyholders to adopt healthy and active lifestyles.
The COVID-19 pandemic has brought back the focus on innovative insurance solutions in the Indian market and companies are today scaling up their digital initiatives and increasingly using AI and automation to drive business and serve their customers, said speakers during a webinar organised last week by the National Insurance Academy (NIA) in association with Swiss Re.
The rapid adoption of digitalisation in insurance and the changing customer behaviour along with the influx of new technologies have led to key shifts in the insurance industry in terms of product innovation, the emergence of ecosystems and data, and technology-driven innovations across the value chain, says a report of the international consultancy firm Boston Consulting Group and India InsurTech Association.
The IRDAI has given its formal approval for the acquisition of a stake of up to 12% in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities (dubbed Axis entities together), Max Financial Services announced in a stock exchange statement.
Life insurance is the most preferred financial tool by individuals across India today.
The insurance regulator, the IRDAI, yesterday announced that it has constituted a 15-member committee to review its information and cyber security guidelines.
About 20% of Mumbai Metropolitan Region's (MMR) coastline is vulnerable to annual flooding during natural disasters and from a gradual rise in the sea level according to a new study.
Indian general insurer ICICI Lombard has launched a 'corporate India risk index' to help companies understand the level of risk that their business is facing. The index will also assist the companies in developing a successful risk-aversion plan.