Browsing: Insurance

GOOQii tied-up with Kotak Mahindra Life Insurance and Kotak Mahindra General Insurance to offer life and health insurance to its…

The tie-up with City Union Bank will enable Tata AIA Life to expand its distribution through CUB’s 700+ branches

Ensuredit aims to utilize this funding to ramp up product offerings and expand the technology team.

India’s insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI) has spelled out ten problem statement for insurance ecosystem…

Private general insurer, Kotak Mahindra General Insurance Company has partnered with PhonePe Insurance Broking Services to offer motor insurance to…

It is estimated that approximately Rs 1,400 crores will be unlocked and General insurers may use this opportunity to optimize this freed up capital in a way which leads to increased insurance penetration in India, it added. 

Recently on June 10, IRDAI had reduced the number of off-line returns being submitted by Life Insurers from forty to only four whereas the number of online returns would come down from eight to five. Further, three separate certification requirements have also been consolidated into one. 

According to RedSeer, category-wise digital insurance penetration, has a Total Addressable Market (TAM) of 66.5 Bn USD, the life insurance category comprised close to three-fourths of the market, followed by motor insurance which has a TAM of 10 Bn USD and retail health insurance which has a TAM of 4.7 Bn USD, as of this year, FY22.

Generali completes the transaction to become the majority shareholder in General insurance biz in India

The feature will help partners of Digit ecosystem to use this tool to further amplify customers’ trust in the policy being issued on the insurer’s behalf.