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MIS SELLING OF INSURANCE
AI alone won’t close India’s insurance gap as NITI Aayog seeks industry help to reach the ‘missing middle’To effectively narrow the insurance gap in India, collaboration between government and private entities is crucial, as technology alone is ...- ₹1 crore penalty on Canara HSBC Life Insurance Company over mis-selling of a deferred annuity policy to an 88-year-old senior citizenAn 88-year-old was sold a deferred annuity policy despite age restrictions, leading to a Rs 1 crore penalty for Canara HSBC Life. IRDAI fou...
- Canara HSBC Life fined Rs 1 crore for mis-selling policy to 88-yr-old via Canara BankCanara HSBC Life Insurance Company received a ₹1 crore penalty from IRDAI. The fine was imposed for mis-selling a deferred annuity policy t...
- Won't chase top-line growth at any cost: SBI General CEO on fire insurance pricing warSBI General Insurance will not chase fire insurance business at unsustainable prices. The company aims to improve profitability and maintai...
- IRDAI pitches public insurance registry to reshape industryIndia's insurance regulator is proposing a Public Insurance Registry for data sharing. This digital infrastructure will connect insurers, i...
- Sun Life bets of India’s alternative investments like Private credit, infrastructure, Raising stake in India’s insurance business not a priority: Kevin StrainSun Life sees significant growth potential in India's insurance and wealth management sectors. The company is exploring new investment oppo...
- Carlisle Investors to approach PMO over alleged HDFC Bank mis-sellingInvestors are planning to write to the Prime Minister's Office this week. They allege mis-selling and substantial losses from a Carlisle pr...
- Business outcomes, not AI models, will decide enterprise deals: Gnani.ai CEO Ganesh GopalanIn an interview with the Economic Times, Gnani.ai CEO Ganesh Gopalan said the biggest challenge to enterprise AI adoption was not other AI ...
- Overall insurance pie has not expanded as expected: HDFC Life MD and CEO Vibha PadalkarHDFC Life CEO Vibha Padalkar highlights intense competition and rising costs in open architecture. She believes credit life policies are vi...
- Surrender and withdrawals as a share of total benefits paid by life insurers rise to 39%Surrender and withdrawal benefits paid by life insurers have increased significantly. These benefits now exceed maturity benefits paid by t...
- IRDAI’s insurance reforms: Why fixing commissions matters more than tracking sellersSome carmakers sell vehicles without a spare wheel, offering just a puncture repair kit instead. Nobody proposes a register of the salesmen...
- Insurance regulator IRDAI plans overhaul of commission rules to curb mis-selling, sources sayIndia's insurance regulator is set to overhaul distributor commissions, proposing payments spread over a policy's life to curb mis-selling ...
- Insurance mis-selling in India: How banks and agents push mis-sold policiesFinancial year-end targets fuel aggressive sales tactics in insurance. Customers are being sold policies they do not need, often through co...
- Mis-selling in insurance sector significant concern: IrdaiInsurance regulator Irdai has flagged mis-selling as a major issue. Grievances related to unfair business practices have risen significantl...
- 5 ways you can identify and avoid investment misselling
- Housing financiers pulled up again for insurance 'mis-selling'The National Housing Bank has instructed home financiers to cease mis-selling bundled insurance policies with housing loans. NHB mandates e...
- Banks will now be penalised for mis-selling insuranceIrdai to hold banks accountable for investment advice they provide as complaints about mis-selling rise.
- Mis-selling may impact insurance valuation: Sanket Kawatkar, MillimanA report by Milliman noted that the joint venture structure is a stumbling block for partners to arrive at a consensus on valuation.
- Mis-selling of insurance policies still at largeAccording to experts, the policyholders abandon their covers either because they realise that they bought the wrong products or because of ...
- Beware of insurance mis-selling at banksMis-selling of insurance products is occurring at some private sector banks.
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