Business
THE INSURANCE TIMES
Health Insurance News
Mental Health Claims Account for Only 1% of Total Medical Insurance Payouts
6 min |
May 2025
THE INSURANCE TIMES
Role of Community- Based Organizations in Promoting Inclusive Insurance
Insurance remains one of the most underutilized financial tools among low-income and marginalized populations, despite its critical role in providing financial protection and risk management.
3 min |
April 2025
THE INSURANCE TIMES
"With a growing preference for DIY platforms and realtime assistance, insurers must offer agile, technology-driven solutions to meet these demands"
Sajja Praveen Chowdary heads the Corporate and SME Insurance business of Policybazaar.
3 min |
April 2025
THE INSURANCE TIMES
Role of Insurtech in a Digital Era
The insurance industry is undergoing an essential transformation driven by insurtechan emerging sector that integrates technology with traditional insurance models.
4 min |
April 2025
THE INSURANCE TIMES
Life Insurance News
LIC launches non-par product Smart Pension
7 min |
April 2025
THE INSURANCE TIMES
Insurance Regulator Update
IRDAI retains 'obligatory cession' at 4% for FY26
5 min |
April 2025
THE INSURANCE TIMES
"The Indian general insurance industry is witnessing a steady growth, in a range of 10-15%, driven by increasing awareness, regulatory reforms, and rising demand across sectors."
Mr. Subrata Mondal is a veteran in the Indian insurance industry with an illustrious career spanning over 36 years, marked by strategic leadership, technical expertise, and a deep understanding of risk management and commercial insurance.
4 min |
April 2025
THE INSURANCE TIMES
International News
Singapore's general insurance sector grows 6.3% to $8.08bn in 2024
4 min |
April 2025
THE INSURANCE TIMES
Success Story - Atul Jain, CEO, Jainone Insurance
In 1997, young Atul Jain's family of three brothers purchased a second-hand Maruti car.
4 min |
April 2025
THE INSURANCE TIMES
Health Insurance News
3 of 5 in India succumb after cancer diagnosis
7 min |
April 2025
THE INSURANCE TIMES
Insurance Contract: Rules of Interpretation
Courts frame Common law rules to facilitate interpreting the words used in contracts, including insurance contracts.
5 min |
April 2025
THE INSURANCE TIMES
Scenario Planning: A Strategic Tool for Handling Multiple Risk Scenarios in Decision-Making
In a rapidly evolving world marked by geopolitical uncertainties, technological disruption, climate change, and pandemics, the traditional linear approach to planning and decision-making is no longer sufficient.
4 min |
April 2025
THE INSURANCE TIMES
"United India Insurance has undertaken significant innovative transformations and is strategically positioning itself to better address the evolving needs of its customers and maintain a competitive edge in the market."
Q: Could you start by giving us a brief overview of United India Insurance Company's performance over the past year?
8 min |
March 2025
THE INSURANCE TIMES
The Role of AI and Big Data in Transforming Life Insurance Underwriting
The life insurance industry is undergoing a significant transformation, driven by the adoption of Artificial Intelligence (AI) and Big Data. Traditional underwriting methods relied heavily on lengthy paperwork, manual risk assessments, and standardized criteria, which often led to inefficiencies, delays, and conservative risk evaluations.
3 min |
March 2025
THE INSURANCE TIMES
Unlocking the Implication of Warranty
It is heartening to note that the regulator in India (IRDAI) recently formed a high-power panel to suggest measures for insurance reforms. It is expected to examine various areas of the Insurance Act 1938 and recommend suitable and adequate amendments in keeping with the changing business trends and requirements of the customers.
7 min |
March 2025
THE INSURANCE TIMES
The future of work: Model of the Talent Life Cycle (TLC)
Its time that organizations understand that the perfect candidate with the perfect set of skills will be scarcely available in a highly competitive labor market. Hence we have to focus on our existing employees and identify opportunities to train or refocus their skills into new positions.
6 min |
March 2025
THE INSURANCE TIMES
Life Insurance News
SBI Life Insurance Company added 1.76% after the company reported 71.19% increase in net profit to Rs 550.82 crore despite a 52.21% fall in total income to Rs 18,542.16 crore in Q3 FY25 over Q3 FY24.
5 min |
March 2025
THE INSURANCE TIMES
Smart Pension Plan for Smart People
LIC Smart Pension Plan is a single premium, instant annuity plan that provides lifelong financial security through guaranteed pension payments. Ideal for retirees and professionals looking for a stable retirement income, the scheme offers flexible payout options, death benefits, credit facilities and tax benefits.
5 min |
March 2025
THE INSURANCE TIMES
Al-Powered Investigation: The missing link in India's fight against insurance fraud
Every year, insurers lose 8-10% of their revenue to fraud, but they manage to thoroughly investigate only about 1% of fraudulent claims. This ongoing issue continues because of significant gaps in the current fraud detection and investigation practices.
4 min |
March 2025
THE INSURANCE TIMES
Health Insurance News
Despite a steep increase in premium for health insurance policies in the last one year, there has not been any decline in renewals and the demand for new policies, say experts.
5 min |
March 2025
THE INSURANCE TIMES
Insurance Regulator Update
The first phase of Bima Sugam - an ambitious project of the insurance regulator to create an Amazon-like one-stop digital platform for buying, selling, and servicing insurance policies - is expected to be rolled out in the mid of this year instead of April announced earlier, a source privy to the development said.
4 min |
March 2025
THE INSURANCE TIMES
Mahakumbh at the Parliament! Union Finance Budget 2025
The telecommunications industry is undergoing rapid transformation, driven by technological advancements and evolving consumer demands. As the industry adapts, a significant opportunity lies in partnering with Insurtech companies to offer innovative insurance products.
3 min |
March 2025
THE INSURANCE TIMES
International News
Sharad Ojha has been appointed as the new chairman of the Nepal Insurance Authority (NIA).
4 min |
March 2025
THE INSURANCE TIMES
General Insurance News
Agriculture minister Shivraj Singh Chouhan assured Lok Sabha govt was committed to taking action against anyone found guilty of corruption in the crop insurance scheme - PM Fasal Bima Yojana.
5 min |
March 2025
THE INSURANCE TIMES
A Comparison of European and Indian Insurance "Risk Function"
The subsequent discussion compares the key areas within the risk management function of insurance companies in Europe and India. These are the existence of skilled resources, issues related to data, whether the risk function is challenging the first line enough, whether the riskbased decision-making is working well......
6 min |
February 2025
THE INSURANCE TIMES
Health Insurance
At the World Economic Forum 2025 in Davos, the CEO of Bajaj Allianz predicted that India could see the emergence of 1000 insurance companies within the next decade.
2 min |
February 2025
THE INSURANCE TIMES
"The Asian Development Bank (ADB) strengthens the insurance sector in Asia and the Pacific by partnering with finance ministries, regulators, and stakeholders."
Arup Chatterjee, Unit Head of the Capital Markets and Insurance Practice Team at the Asian Development Bank (ADB), has over 35 years of experience shaping global policies and driving reforms in insurance, pensions, and capital markets.
8 min |
February 2025
THE INSURANCE TIMES
Insurance Regulator
Insurance companies are taking over six hours to process the majority of health cover claims and facilitate hospital discharges post-settlement.
4 min |
February 2025
THE INSURANCE TIMES
Arterial Blood Gas (ABG) Interpretation for Medical Auditors & Health Insurance Claim Processors
A blood gas analysis may be performed on blood obtained from anywhere in the circulatory system say artery, vein or capillary. A medical auditor and claim processor should know that differences in measured blood gas values between arterial and venous blood are most pronounced for PO2 as PO2 is the only clinical reason for obtaining arterial collections.
9 min |
February 2025
THE INSURANCE TIMES
MSME Insurance: Simplified
As per MSME Ministry data, there are about 6.3 crore MSMEs in India, which provide employment to approximately 11.10 crore and contribute to about 27% to the country's GDP, which is again 45% of the manufacturing output and over 40% of both direct and indirect exports.
8 min |