India
PhonePe launches insurance for Maha Kumbh Mela attendees
The plan is developed in collaboration with ICICI Lombard General Insurance.
India’s life insurance sector bound for 6.9% annual growth: Swiss Re
Total premium volumes predicted to increase by an average of 7.3%.
India's non-life insurance slightly dips by 0.33% in December
On a year-to-date (YTD) basis, the industry jumped 7.82%.
India’s insurance penetration slumps to 3.7% in FY 23-24
Insurance density in India rose slightly, from $92 in FY 22-23 to $95 in FY 23-24.
Kotak Life launches AI-powered HR assistant
Its chief human resources said it aims to modernise HR services.
India’s Union Cabinet extends crop insurance schemes
It has a total allocation of ₹69,515.71 crore.
Half of Indian health insurance policyholders report claim rejections
83% of respondents also believe health insurers lack modern systems.
India's non-life insurance climbs 4.4% in November
The modest growth was driven by retail health and motor third-party.
Insurers say India’s medical costs to climb 13.2% this year
Meanwhile, 2024 is projected to jump by 12.5%.
New India Assurance works to tighten underwriting, risk controls
However, its balance sheet remains exposed to potential volatility.
India's non-life insurance sector grows 4.41% YoY in November
Standalone health insurers saw their premiums climb 10% YoY.
India's life insurance sector grows 20% YoY in November
The sector's two-year compound annual growth rate (CAGR) stood at 1.8%.
Removing 74% FDI cap may benefit insurers more: Chairman
This could remove the need for joint ventures, but int’l insurers may still favour local partnerships.
India’s GST cut may lower health, life insurance costs
Currently, an 18% GST is applied to premiums for health and life insurance.
Life Insurance Corporation of India sees profits up 3.5% YoY in H1 2024
LIC's total premium income rose by 13.56% YoY.
20 private Indian insurers struggle with claim payouts
Only four insurers achieved a claim-paid ratio exceeding 90% in terms of the number of claims processed.
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For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness