India's Policybazaar parent reports quarterly profit on insurance boost
PB-FINTECH-India's Policybazaar parent reports quarterly profit on insurance boost
PB-FINTECH-India's Policybazaar parent reports quarterly profit on insurance boost
During a recent meeting, the General Insurance Council discussed a comprehensive array of initiatives, such as the 'Cashless Everywhere' program, the upcoming 'Bima Trinity', and efforts to simplify policy wordings. These initiatives are aimed at reshaping the critical role of health insurance in ensuring nationwide financial security.
Typically, insurance product commissions are front-loaded, meaning a significant portion of what the policyholder pays in the first year goes to the agents to incentivise them to sell more. In the subsequent years, the agent gets a much smaller part of the annual premium as trail commission.
Innovative thinking on the insurer's part and acceptance by the regulator has made it possible for the industry to grow rapidly. This is also why ACKO Insurance is able to provide unique insurance solutions. One such innovative offering is full claim amount without deductions. Let's understand why insurers make deductions on the claim amount.
IIHL awaits Irdai approval for Rs 9,650-crore Reliance Capital acquisition, ready to pay promptly. NCLT deadline nears with funding secured. Plans include Nippon collaboration, health insurance launch, and Afrinex listing aspiration.
Biden's administration expands health insurance access for DACA immigrants, granting work permits, tax credits, and access to the Basic Health Program, benefiting about 100,000 previously uninsured DACA participants under the Affordable Care Act.
"Despite some interventions by the Insurance Regulatory and Development Authority of India (Irdai) consumers continue to grapple with insurance companies to get their health claims," Localcircles said in a statement.
Insurtech major, PB Fintech has received the board's green light to divest stake in two of its subsidiaries and pick up a shareholding in a UAE-based insurance broker.
IRDAI expected to approve IndusInd International Holdings' acquisition of Reliance Capital's 3 insurance companies. NCLT endorsed IIHL's ₹9,650 crore resolution plan for Reliance Capital. Hinduja Group's Aasia Enterprises aids in equity infusion.
Upon the transaction’s close, New York Life will acquire 49% stakes in two SPVs of Max Estates that hold Max Towers and Max House (Phase I & II).
In a regulatory filing, Max Estates announced a strategic investment of Rs 388 crore from New York Life Insurance Company, America's largest mutual life insurer.