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Life Insurance News

THE INSURANCE TIMES

June 2025

LIC Launches WhatsApp Bot for Premium Payment Convenience

Life Insurance Corporation of India (LIC) has introduced a WhatsApp-based bot to streamline premium payments for policyholders. Launched on May 9, 2025, the service allows registered users to interact with the LIC WhatsApp number 8976862090 to view due policies and pay premiums via UPI, net banking, or cards-all within the messaging app.

The initiative offers a seamless customer experience, including receipt generation, entirely through WhatsApp. LIC MD & CEO Siddhartha Mohanty highlighted that this digital tool would enhance operational ease and provide policyholders with a convenient payment alternative anytime, anywhere. LIC's customer portal already sees daily logins from over 3 lakh users and has a user base exceeding 2.2 crore registered policyholders. The new WhatsApp feature is expected to significantly boost service efficiency and customer satisfaction, aligning with LIC's commitment to leveraging technology for better outreach.

Aditya Birla Sun Life Partners Equitas SFB to Expand Insurance Access

Aditya Birla Sun Life Insurance (ABSLI) has partnered with Equitas Small Finance Bank to enhance life insurance access through the bank's nationwide branch network. This tie-up enables Equitas customers to avail ABSLI's suite of life insurance products-such as the Salaried Term Plan, Nishchit Aayush Plan, and Assured Savings Plan-directly from its branches.

Targeting increased financial inclusion, especially in semi-urban and rural markets, the partnership supports the broader industry goal of "Insurance for All by 2047." Kamlesh Rao, MD & CEO of ABSLI, emphasized how the alliance will deliver comprehensive protection solutions to a wider customer base.

This story is from the June 2025 edition of THE INSURANCE TIMES.

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"Our focus is on expanding beyond metro cities and strengthening our presence in district-level and underserved markets across India.With a strong agency network, hospital partnerships, and digital capabilities, we are working towards building a pan-India presence."

Mr. G. Srinivasan has over 4 decades of successful experience in General Insurance Industry across various regions of India and abroad in all facets of insurance sector.

9 mins

June 2026

THE INSURANCE TIMES

Legal Briefs

Maa Danteswari Cold Storage, a partnership firm established in 2008, had obtained a standard fire and perils policy from Reliance General Insurance for the period November 30, 2009, to November 29, 2010.

2 mins

June 2026

THE INSURANCE TIMES

IRDAI Corner

With a view to strengthening the effectiveness of the Insurance Ombudsman mechanism and aligning it with the evolving expectations of the Authority and the rapidly changing insurance landscape, the Council for Insurance Ombudsmen (CIO), under the guidance of the Insurance Regulatory and Development Authority of India (IRDAI), is conducting an “Orientation Programme for Insurance Ombudsmen” from 20th May to 23rd May, 2026 at IRDAI Headquarters, Hyderabad.

3 mins

June 2026

THE INSURANCE TIMES

Profits Lie in the Safety of Policyholders

Insurance companies are not profit-making companies alone. Can, for example, the police department exist for making profit? Can the Department of Agriculture think of making a profit? They are service-oriented industries, not profit-oriented industries.

6 mins

June 2026

THE INSURANCE TIMES

Insurance Policies cannot be Illusory: The Supreme Court's approach to Marine Insurance Warranties

The insured argued that the insurer knew, or should have known, that the insurance policy covered the monsoon or foul weather period. Therefore, the insurer should not reject the claim on the ground that the voyage took place during bad weather.

13 mins

June 2026

THE INSURANCE TIMES

Session on Legal Preparedness for Insurance Surveyors by IIISLA, Kolkata

Dr. Rakesh Agarwal, Director, RMAI and Editor, The Insurance Times, delivered a session on \"Legal Preparedness for Insurance Surveyors\" at the West Bengal Chapter training programme in Kolkata.

1 min

June 2026

THE INSURANCE TIMES

International News

Tokio Marine Holdings expects steady premium growth and stronger shareholder returns over the next few years, supported by pricing increases in Japan and the US.

2 mins

June 2026

THE INSURANCE TIMES

Water Damage Restoration: A Smarter Approach to Reducing Insurance Losses

Water damage is no longer limited to floods alone.

1 min

June 2026

THE INSURANCE TIMES

Global Insurance Sector Strategic Analysis: Major Points in Capital, Technology, and Regulation (Q3-Q4 2025)

The global market has been notoriously hard over the last five years, due to pandemic-related losses, supply chain disruptions, and an outflow of reinsurance capital. But it was Q3 2025 that put an absolute stop to this cycle and the beginning of a new, more paradigm-shifting, softer one.

15 mins

June 2026

THE INSURANCE TIMES