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Identify Fraudulent Claims Insurance Industry

ICICI Lombard Upgrading Fraud Detection To Stem Fraudulent Claims

March 2018

Increasing incidences of fraudulent claims has led ICICI Lombard to strengthen their fraud detection processes

ICICI Lombard Upgrading Fraud Detection To Stem Fraudulent Claims

March 31 2018

Increasing incidences of fraudulent claims has led ICICI Lombard to strengthen their fraud detection processes

February 02 2021

The Government of India has proposed a hike in the limit or cap on Foreign Direct Investment (FDI) in the insurance sector to 74% from the existing 49%. The decision was announced by the Finance Minister of India, Mrs Nirmala Sitharaman, during her budget speech in the parliament on 1st February 2021.

July 30 2019

IRDAI’s mandate to cancel the registration of completely destroyed vehicles is expected to put a check in the cases of fraudulent car registrations.

January 20 2019

General Insurance Company ICICI Lombard reported a net profit of Rs. 239.14 crore during 3rd quarter ended December 2018, up by 3.2% when compared to similar period of last year.

January 08 2019

The government is considering making it mandatory for all driving licenses to be linked with Aadhar card to prevent duplication of the licenses.

December 20 2018

ICICI Lombard has launched an artificial intelligence-based solution for instant renewals of expired or lapsed motor insurance policies.

December 14 2018

IRDAI has released a circular to unbundle the compulsory Personal Accident cover from the mandatory third-party motor insurance plans and allowed the issuance of separate PA cover policies from 1st January.

December 12 2018

The government of India has decided to provide driving license for teenagers between 16-18 years of age to ride e-scooters with maximum motor power of 4 kWh at speed up to 70 kmph.

December 08 2018

The government has instructed car manufacturers to pre-fit high security registration plates and colour-coded fuel stickers on all vehicles being sold from April 2019 onwards.

December 05 2018

An IRDAI panel set-up to examine the pricing of third-party motor insurance plans have recommended the use of telematics to determine the insurance premiums more accurately in the future.

December 04 2018

General insurers asked for more clarity from the insurance regulator about the items pertaining to mental illnesses that should be covered under health insurance plans.

December 04 2018

IRDAI has decided not to fix the third-party motor vehicle insurance premiums from financial year 2020-21, which means the insurers can quote their own price.