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Insurers racing to ‘AI-proof’ systems as IRDAI flags risksIndian insurers are rethinking how they assess cyber risks. Regulators have asked them to review exposure to artificial intelligence-driven...- Digital lenders wary of small biz; Mythos’ biggest security riskHappy Tuesday! Digital lending firms are turning cautious on term loan exposure to small businesses. This and more in today’s ETtech Mornin...
- ICICI Lombard's InstaSpect settles over 10 lakh motor insurance claims since its launchThe feature has gained tremendous acceptance among motor insurance customers and reached the milestone of more than 1 million motor insuran...
- Insurers can change rates by up to 15% without IRDAI nodIRDAI has now allowed insurers to alter the mode of premium payment to an instalment basis without having to file the product afresh with i...
- Lesser-known parameters that can push up insurance premiums or lead to cover denialUnderstand the lesser-known parameters that can push up insurance premiums or lead to cover denial.
- Motor cover renewals up 6x on finesAs traffic violators start paying hefty penalties under the new Motor Vehicles Act 2019, renewal of vehicle insurance policies has a seen a...
- Only 45% car users in Bengaluru consider third party liability in insurance coverThe survey added that 89% car owners and 82% bike owners showed claim process awareness in the city.
- Insurance Ordinance: Third-party motor cover causes industry stirIn total, every year the industry is burdened with loss of Rs 7,000-8,000 crore on account of this portfolio, impacting their overall profi...
- Investment income boosts general insurers bottomline in FY14Total net profit of non-life insurers stood at Rs 4,439 crore in 2013-14 as against Rs 3,282 crore in 2012-13, according to Irda.
- HDFC Ergo General Insurance Company inks distribution pact with Deutsche BankUnder the partnership, the leading German lender will distribute HDFC Ergo's non-life insurance products through its 17 branches.
- General insurers plan minimum lowest premium level to cut lossGeneral insurers are planning introduce a 'base rate' kind of system while pricing the premium rates.
- New products, Innovative distribution channels needed to drive motor insurance: ICICI LombardInnovative distribution channels and products along with customer information repository for the industry are required to increase penetrat...
- Up to 35 per cent cars on roads without insuranceWith advancement in printing technology, it is possible for fraudsters to replicate policies of existing companies, helping them get throug...
- General insurance companies go to IRDA with new proposals; move to bring down fraud third party claimsIf general insurance companies have their way with the regulator, your accident insurance claim will be rejected if a friend rams your car.
- Insurance claims fall 80 per cent in cars fitted with anti-theft devicesGeneral insurers may push for a mandatory anti-theft device in cars as claims have fallen 4/5ths in cars fitted with it.
- Discounts on own-damage motor policies lowered down by 20%Non-life insurers have lowered discounts on commercial and private own-damage motor policy by as much as 20%, as third-party motor risk mov...
- Hike in third-party motor premiums likely to boost underwriting performancePremium rate needs to more than double from FY11 levels to make underwriting profits for the segment, says Crisil.
- General insurers to face Rs 10,000 crore underwriting loss in FY-11: CrisilCrisil estimates the industry's underwriting losses to increase significantly to more than Rs 100 billion in 2010-11 from Rs 59 billion in ...
- General insurers to face Rs 10K cr underwriting loss in FY'11Research firm Crisil today projected underwriting loses of the domestic general insurance companies at Rs 10,000 crore in the 2010-11 fisca...
- Bajaj Allianz offers 5% rebate on motor insurance premium for ladiesBajaj Allianz is offering women a 5% discount in motor insurance premium after a study of auto claims revealed that a proportion of claims ...
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