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Latest Insurance News Today

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.

October 09 2017

The Supreme Court has ruled that delayed claims with genuine reasons for delay cannot be repudiated. This is good news for motor insurance policyholders

October 02 2017

Driven by the success of crop insurance, the non-life insurance industry is poised to double its contribution to GDP in next 5 years

September 29 2017

The introduction of KYC will help general insurers in facilitating timely renewals for motor insurance and also cross-selling other products

September 21 2017

General insurers are increasing investments in government securities due to increased premium collection and raising of capital following successful IPOs

August 11 2017

The Supreme Court has directed insurance companies to not renew insurance of vehicles that don’t have a valid PUC certificate. Takes into account suggestions put forth by EPCA

August 10 2017

The insurance industry will be moving to RBC norms by 2021. IRDAI has formed a 10-member steering committee to oversee its implementation

July 01 2017

The insurance penetration rate in India is just 3.42%. To improve this, the regulatory framework needs to be transformed, according to the report.

June 30 2017

Although GST has increased the cost of insurance premiums by 3%, it is still important to insure your life & properties, as they bring peace of mind. Read about the impact of GST here!

June 29 2017

Many farmers in Trichy, due to their lack of knowledge about crop insurance, are suffering after losing their crops to drought. Know more about crop insurance here!

June 28 2017

Data Analytics could transform the insurance sector, making it more profitable and increasing customer satisfaction, if applied properly. Read more about it here.