Published in Livemint. Life Insurance companies clocked 11.36% growth in collective sum assured during financial year ending 31 March 2020, according to data published by the Insurance Regulatory and Development Authority of India (Irdai). However, new business premium tanked 32% in March 2020 to ₹25,409.30 crore compared with ₹37,459.36 crore in March 2019. Life Insurance […]
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The simple insurance plan that is complex
Published in mint on 29th May, 2017. Insurance Regulatory and Development Authority of India (Irdai) has taken many steps to increase the distribution footprint of insurance products in India. And in order to get more feet on the street, the regulator has allowed the industry to make use of point of sales persons (PoSPs). PoSPs […]
IRDAI proposals gives clarity on renewing own damage motor insurance policy
Published in Economic Times. The Insurance Regulatory and Development Authority of India (IRDAI), on Monday, proposed a slew of changes that, if implemented, can make long-term motor insurance policy a simpler product. It also gave much needed clarity regarding buying and renewing own damage motor insurance covers. Expiry of the OD cover should not be […]
BW Businessworld Life Insurance Summit 2017 | ‘Trust Deficit Is The Greatest Challenge In Insurance Distribution’
Published in Business World, on 28th April 2017 Vighnesh Shahane, CEO, IDBI Federal Life Insurance, Kapil Mehta, Founder & EO, SecureNow Insurance Brokers, Shirish Pathak, CEO, Fintelekt and Nilesh Parmar, COO, Edelweiss Tokio Life Insurance shared the stage for the panel discussion on nurturing a healthy distribution ecosystem. Aniruddha Bose inaugurated the discussion by asking […]
India: Most are aware of health insurance, but lack knowledge
Published in Asia Insurance Review, on 18th May 2017 Awareness of health insurance among Indians is around 70%, but there remains poor understanding of what goes into health insurance, according to a survey commissioned by IRDAI. The study, conducted by the National Council of Applied Economic Research (NCAER), shows that fewer than 50% understood the […]
Cap on exit penalties for traditional plans
Published in Mint on 9th October, 2017. High exit penalties on Ulips added to insurance companies’ profits, till they were capped. However, they still exist for traditional insurance plans. We asks the experts if exit loads on traditional plans too need to be capped. Sanket Kawatkar, principal and consulting actuary, life insurance (India), Milliman India […]
Distribution Landscape Set To Change Dramatically
Published in Business Word on 7th November 2017 In this interview, Kapil Mehta speaks to BW Businessworld on SecureNow’s business model and growth plans, emerging trends in the insurance space in India, and the challenges of an evolving Health Insurance landscape Kapil, what led you to leave a successful corporate career as the CEO of […]
Does regulator allows partial settlement of maturity payouts for all Ulips
Published in LiveMint. Addressing the operational constraints arising out of the country-wide lockdown and the market volatility due to COVID-19, the insurance regulator has allowed life insurers to offer settlement options in accordance with Regulation 25 of IRDA (linked insurance products) Regulation, 2013 for matured Ulips whose fund value is to be paid in lumpsum. […]
The age at which you should get health insurance and the cover size you will need
The age at which you should get health insurance and the cover size you will need It’s a common perception, and one that is probably responsible for the vastly underinsured Indian population. Health insurance, people believe, is mostly required in old age or for critical illnesses like cancer and cardiac diseases. The rise in incidence […]
New rules give insurance web aggregators a boost
Published in Mint, on 10th May 2017 Insurance Regulatory and Development Authority of India (Irdai), in a gazette notification dated 13 April, laid down the rules for insurance web aggregators: Irdai (Insurance Web Aggregators) Regulations, 2017. According to the aggregators we spoke to, these regulations do not cause any major disruption, as they mainly aim […]