Discard these insurance plans

Published in Mint on Dec 05 2016, Written by Kapil Mehta Insurances can become irrelevant because of product improvements, lower current cost, change in laws or even lack of expected change in laws. Friends often send me their insurance portfolios to review. As I browse through the dusty files there are many insurances that are […]

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The need to build deeper insurance distribution landscape

Published in Mint on 14 October 2015, Written by Kapil Mehta Last weekend, I was in Varanasi for a short break. Sailing down the Ganges by the ghats we were transported into a different world. The cycle of birth, life and death were vividly portrayed in a half-hour boat ride. I find it hard, however, […]

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Insurance e-commerce norms take shape

Published in Mint on Jun 21 2016   The world is moving online and so should the way you buy the most important instrument in your money box: insurance. To help build an online platform for insurance, the Insurance Regulatory and Development Authority of India (Irdai), earlier this month, drafted the Insurance E-commerce Regulations (http://bit.ly/28KdHMg […]

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Getting intermediary compensation right

Published in Mint on 17 February, 2016, Written by Kapil Mehta Earlier this year, the Insurance Regulatory and Development Authority of India (Irdai) issued an exposure draft on compensation for insurance intermediaries such as agents and brokers. The number of industry stakeholders who have responded to the draft is among the highest ever. Why? Because […]

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More payment for distributors sought

Published in Mint on Jan 14 2016   The Insurance Regulatory and Development Authority of India (Irdai) came out with a draft circular on the payment of commission to insurance agents and intermediaries on Wednesday. The Insurance Laws (Amendment) Act, 2015, gives powers to Irdai to decide remuneration structure for distributors. The draft also specified […]

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Stopping premiums can reduce life cover

Published in Mint on Dec 02 2015   The Insurance Regulatory and Development Authority of India (Irdai) reiterated recently that when a policy is surrendered or discontinued, the insurer will have to follow the rules stipulated by linked and non-linked product regulations that came out in 2013. The regulator said so in a notification that […]

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Insurance gets a new distribution avenue

Published in Mint on Oct 28 2015   To increase the distribution footprint of the insurance industry, the Insurance Regulatory and Development Authority of India (Irdai) has allowed a new type of distributor, called the point of sale (PoS) person. According to Irdai, this step is a part of its developmental agenda and it hopes […]

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How the world looks at insurance

Published in Mint on 8 April 2015, Written by Kapil Mehta I am glad March is over. Financial year-end is hectic for insurance. People buy life and health insurance to claim their income tax benefits under sections 80C, 80D and other such. Surprisingly, companies also buy most of their insurance in this month. There is […]

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Perceptions of insurance are improving

Published in Mint on May 16 2017, Written by Kapil Mehta A few weeks ago, the Insurance Regulatory and Development Authority of India (Irdai) released market research on the insurance industry. The study, conducted by the National Council of Applied Economic Research (NCAER), covered 30,200 households across the country. Considerable thought has gone into making […]

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Why is the insurance Bill so important?

Published in Mint on Dec 16 2014   Last week, a select committee of the Rajya Sabha submitted its report on the Insurance Laws (Amendment) Bill, 2008, and the Cabinet approved it, incorporating the amendments suggested by the committee, for presenting the Bill in Rajya Sabha. It’s expected that the Bill will go through during […]

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