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Category Archives: News & Analysis

Approve cashless insurance claims within 60 minutes: IRDAI to insurers

Cashless claims health insurance

Taking note of hospitals denying cashless facility to policyholders amid the rising covid-19 cases, insurance regulator IRDAI today asked insurers to approve cashless hospitalisation requests within 60 minutes of receipt of documents. “Decision on authorization for cashless treatment for COVID-19 claims shall be communicated to the network provider (hospital) within a period of 60 minutes […]

Covid-19: Health insurance helpline support list

Choose Right Health Insurance Plan

The Covid-19 pandemic is currently raging through the country and it is of utmost importance to not only mask up and follow the requisite guidelines to avoid the infection. It is equally important to have a health insurance plan that covers you and your family against any unforeseen medical expenses. Majority of insurance players in […]

Rising COVID Claims: Hospitals refuse to extend cashless medical facilities

cashless health insurance no longer cashless

With the sudden surge in COVID-19 cases following the second wave of the pandemic, many hospitals are now refusing to extend cashless medical insurance facility to patients. Cashless insurance allows patients to walk out of the hospital without any payment as hospitals settle the claim with the insurance provider. “The maximum the insurer can do […]

Life insurance industry post 7.5% growth in FY21 amid COVID crisis

Life insurers see robust growth in March FY21

In FY21, the life insurance industry registered 7.5 percent growth in first business premiums at Rs 2,78,277.9 crore over the previous year, data released by Life Insurance Council showed.   The country’s largest life insurer, Life Insurance Corporation (LIC), posted a growth of 196 percent in individual weighted received premium (WRP) from a decline of 65 […]

Smartcoin: How this start-up is using technology to offer short-term loans to the unbanked

Rohit Garg smartcoin

Smartcoin, an app-based consumer lending platform, was one of the several businesses that faced a lot of disruption during the pandemic. Even good borrowers who wanted to repay were unable or unwilling to do so. During the lockdown, they found that many borrowers were trying to hold on to cash because they were worried about […]

Generali and Liberty Mutual insurance likely to raise stake in Indian insurance JV’s post FDI cap hike to 74%


The regulatory go-ahead for an increase in foreign direct investment (FDI) cap to 74 percent in insurance companies will see some foreign JV partners increasing their stakes in Indian ventures besides boosting competition in the cash-strapped sector. Italian insurance group Generali and American insurance group Liberty Mutual are likely to be the first ones to […]

ICICI Lombard reports 23.4% rise in profits in FY21 despite higher Covid claims in Q4

iccilombard healthinsurance

Private non-life insurer ICICI Lombard general insurance reported a 23.4 percent rise in profits in FY21 despite a surge in Covid-19 claims in the March quarter. The general insurance industry has been seeing an onslaught of second wave of Covid claims in Q4 FY21. ICICI Lombard, in line with the general insurance industry, has seen […]

Third-party motor insurance premium rates may rise by 10%

motorinsurance premium vehicleinsurance

Your vehicle’s third-party (TP) motor insurance premium rates are likely to be revised upwards by up to 10 per cent this fiscal after remaining unchanged last year. TP motor insurance rates, the only segment which continues to be regulated by regulator IRDAI, are revised every year in April. However, due to Covid-19 the rates were […]

General insurers see 5% increase in premium collection in FY21

generalinsurance premium rise

Gross premium underwritten by non-life insurers saw a 5 percent increase to Rs 1.98 lakh crore in FY 21 over the previous year as more people signed up for health insurance following the Coronavirus pandemic, shows the data released by the insurance regulator IRDAI. Non-life insurers include standalone health insurers, general insurance companies and and […]

FDI hike to 74% will help solve insurance industry’s capital conundrum: Liberty Insurance CEO & Whole Time Director, Roopam Asthana

Roopam Asthana, Liberty Insurance

The insurance industry has been grappling with rising claims following the second wave of Coronavirus. Coupled with rising health insurance premiums, it has emerged as one of the burning issues for the general insurance companies. Roopam Asthana, CEO & Whole Time Director, Liberty insurance, discusses about industry measures to tackle the issue of rising premiums, […]