BAJAJ ALLIANZ GI
Navigating the general insurance landscape: A reflective review and forward outlook
The GI industry is entirely focused on achieving the glorious mission of 'Insurance for All' by 2047, set by the insurance regulator.
Health insurance new features: Common cashless network across the country, 100% cashless system to be launched soon
IRDAI is planning to introduce two new features in the health insurance policy — a common network for hospitals for all health insurance policies issued by any health insurance or general insurance company across the country and a 100% cashless settlement system. These two initiatives will help insurers to provide an integrated and comprehensive cashless hospital network to customers to ensure that their claims experience is seamless and hassle-free. Read on to find out more about it.
Insurers plan digital payments platform for reinsurance business
According to an executive aware of the developments, a new company will be set up towards this end, where general insurance companies through the GI Council will hold up to 46% stake. "No insurance firm will hold more than 6% stake while the developer company may be offered around 24% stake in the new firm," he said, adding that the process is on to identify all key stakeholders.
Why insurance stocks could be the next multibaggers: Which are the best bets?
While Covid brought unprecedented challenges, it helped the insurance sector to learn new things. Technology has made the distribution of the product faster and cheaper, which is critical to increase the bottom line of a company. The industry is likely to grow faster now as the economy is recovering from the pandemic impact.
Bharat Griha Raksha standard home insurance policy offers auto increase of sum insured: Should you buy?
The insurance regulator IRDAI mandated all general insurance companies to offer this standard insurance policy and as a result, most insurers have started offering this insurance cover from April 1, 2021.
‘General insurers to recover as Covid cases fall, jabs rise’
India’s general insurance sector is set to gradually recover from high loss ratios, which hit the solvency margins of top players in the first half of 2021, on the back of reducing Covid-19 cases and increased vaccinations, ICICI Securities has said.
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Over half of FY21 Covid mediclaims filed in just six weeks
As of March 31, non-life companies including health insurers received 9.8 lakh claims for Rs 14,560 crore for treatment of Covid-19. This went up to 14.8 lakh as of May 14, 2021, for a total value of Rs 22,955 crore.
Bounce in car sales help insurers offset Corona losses
Leading insurers are seeing a healthy jump in their motor vehicle portfolio with premiums accrued from new business growing both corresponding to preceding months and the same period of last year, executives at leading insurance companies said.
Industry steps up to help realise Centre's health insurance plan for middle-income groups
The Missing Middle project was launched in August 2020 by NHA to enhance the scope of existing central government insurance schemes and make them more inclusive.
Falling collection of health premium during Covid crisis a big surprise: Bajaj Allianz
‘Covid crisis has proved to be a big boost for digitisation of the insurance industry.’
General insurance industry's premium grows 16% in April
After the increase in the third party motor premium since April 1, the industry, as a whole, has recorded the highest growth in the portfolio, a 23 per cent rise in total premium to Rs 1,888 crore.
Claim-flood: What can I get on my auto policy?
The claims have just started coming in and the average ticket-size, even for small cars, is Rs 50,000 to Rs 60,000. For highend vehicles -above 1500cc -the averages are much higher at Rs 8-10 lakh.
Bajaj Allianz GI starts helpline number for Jammu and Kashmir flood victims
Private sector Bajaj Allianz General Insurance has introduced a dedicated helpline number for the Jammu and Kashmir flood victims.
Bajaj Allianz General Insurance plans 4,000 virtual offices in 2-3 years
Bajaj Allianz General Insurance said it plans to open over 4,000 virtual offices spread across Tier 2 and 3 cities over the next 2-3 years.
Private general insurers market share inch up to 44% in FY14
Some of the private sector non-life insurers, who gained market share during the year include Bajaj Allianz, HDFC Ergo, SBI General, Reliance General and Bharti Axa.
Bajaj Allianz GI launches new home insurance product
The Pune-based firm is a joint venture between Germany's Allianz Group and Bajaj Finserv, in which the latter holds 74 per cent stake.
General insurance industry hopes for better growth in current fiscal
General insurance (GI) industry expects better growth in the current fiscal as greenshoots start appearing in the commercial vehicle segment.
Bajaj Allianz eyes Rs 600 crore profit; Rs 4,700 crore premium FY14
Bajaj Allianz hopes to close the current fiscal with around Rs 600 crore profit and a premium income of over Rs 4,700 crore.
'Bajaj Allianz GI to grow above industry average this fiscal'
Bajaj Allianz hopes to grow better than the industry average, which is likely to grow around 15 per cent in this fiscal amid slowdown.
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