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Category Archives: News & Analysis

Sana Insure: a new portal to compare and buy health insurance policies

sana insure health insurance

At the platform, the customer can understand the benefits, limits, and conditions of all the health insurance plans that have been captured in over 150 standardized parameters. SANA Insure is focused on delivering health insurance solutions, both online and offline. It has online API integration for health insurance products with 16 health and general insurers, and offline partnerships with 11 other insurers.  A unique “Hinglish” interface is aimed at residents […]

Higher COVID claims to weigh down profitability of Indian life insurers in FY22

life insurance profitability pic

Claims for life insurers in the first half of the current fiscal year may easily surpass the total claims seen in FY21 amid the surge in second wave of Covid-19 infections and fatality rates. “Most insurers reported a higher claim experience in FY21 and have made provisions to absorb potential claims that may arise in […]

Term life insurance rates set to go up by 15% for the second time this fiscal

term lifeinsurance premiums

Faced with rising life insurance claims amid the second wave of Covid-19, life insurers are likely to go for a second round of increase in term life insurance rates in July 2021. Term life insurance rates are likely to go up by 10 to 15 per cent during the second half of FY21, said a […]

COVID19 shakes up insurance industry as demand for corporate insurance policies exceeds supply

bharat re insurance arunachalam

When the Coronavirus pandemic hit in 2020 and businesses shut operations, the collective worry of corporates across the world was whether their insurance policies would cover the loss of profits resulting out of the sudden interruption. But globally, either the pandemic was listed among ‘exclusions’ in insurance policies, or could be availed of as an […]

Bima Gurukul founder Sumit Shrivastava: The 36-year-old millionaire who once sold shampoos door-to-door

bima gurukul life insurance LIC AGENT

The business of selling insurance requires consistent hard work and dedication. Sumit Shrivastava knows this first hand. He started his career in 2006 going door-to-door to sell shampoos and vacuum cleaners. Soon, he began working with a couple of general insurance companies including IFFCO Tokio and Universal Sompo. “I wanted to set up a source […]

COVID-19 impact: Motor insurance claims settlement time reduces from days to hours aided by increasing digitisation

motorinsurance AI

Processing of your vehicle accident claims has become faster than ever before as insurers are now offering customers the option to settle claims through their self-service mobile apps.  While the COVID19 pandemic has forced most companies to adopt the technology route, general insurers have seen a huge acceleration in the digital processing of motor insurance […]

LXME: Priti Rathi’s investment platform for the women, by the women

Priti Rathi Gupta LXME Anand Rathi

Traditionally, conversations around financial planning and investing in India have been dominated by men with women having very little say in the family’s finances. Why are women not engaging in this conversation? Why is this space still dominated by men? Is it because the finance industry is primarily talking to men, and addressing their financial […]

Online insurance purchase is more secure than buying offline: Naval Goel of PolicyX

POLICYX Naval Goel web aggregator

While working with US-based insurance giant AIG, Naval Goel realised that insurance penetration in India was one of the lowest, making it a huge untapped opportunity. The year was 2010 and he decided to return home to create a platform for insurance agents to sell motor insurance. With inadequate technology in the segment, Goel decided […]

‘The grey area for claims is that the need for admission is not clearly defined’: Vidal Health CMD Girish Rao

Vidal health Girish Rao claim healthinsurance

With the second wave of Covid raging across the country there has been an unparalleled surge in Coronavirus-related health insurance claims. Vidal Health, one of India’s leading third-party administrators, is working to help policyholders find hospital beds and ICUs besides guiding them to the nearest diagnostic centres in line with their policy coverages. In an […]

Now a standardised travel insurance policy for domestic travel

travelinsurance IRDAI

To make domestic travel more financially secure, insurance regulator IRDAI has released guidelines on a standardised travel insurance product. “There is a need to make every trip financially secure by providing suitable protection cover against unknown contingent events. Though, there are a number of travel insurance products available in India, each product is distinct and […]