Over 90% of women in India participating in an insurance survey feel that women-specific health insurance plans are highly relevant. Around 65% of women opt for women specific health insurance plans according to the survey conducted by the general insurer ICICI Lombard GIC
The IRDAI is removing caps on commission payments, now prescribed by branch of business, putting commissions instead under an overall cap on expenses of management (EoM) of insurers.
The savings of India's public - channeled through life insurers, provident and pension funds - are increasingly getting ploughed into long-term debt, leading to a structural change in the costs of borrowing for Prime Minister Narendra Modi's government, reports Bloomberg.
The government is pushing for changes, including higher limits for the ombudsman, to enable insurance disputes to be resolved in a timely manner.
Life Insurance Corporation of India (LIC), India's largest insurance company, is moving towards limiting its debt and equity exposure to companies, according to an exclusive report by Reuters which quoted two sources.
Max Life Insurance Company has unveiled the findings of its first-ever rural edition of its flagship survey India Protection Quotient survey (IPQ) which indicate, among several things, that only 22% of India's rural population own life insurance products, compared to 73% across urban India.
A new survey conducted across 113 villages in India has found that only 22% of India's rural population owns life insurance products compared to 73% across urban India.
Bank of Baroda's 65%-subsidiary IndiaFirst Life Insurance has received approval from the Securities and Exchange Board of India's (SEBI) for an initial public offering (IPO).
About 400m people in India, roughly 30% of the country's population, are considered the "missing middle"-that is, underserved communities with insufficient health insurance protection.
Japan is ranked second in a new Swiss Re study on life and health insurance availability, accessibility and affordability (three 'A's). Japan's aggregate inclusion score is 0.66, behind the 0.67 score for the US.