Finance Minister Nirmala Sitharaman in her Budget speech 2025 has proposed to increase the foreign direct investment (FDI) limit in the insurance sector from 74% to 100%, a move expected to bring more players into the market and drive innovation. “With 100% FDI now allowed in insurance, India could be on the path to having … Read more
Health insurance claims: A survey conducted by LocalCircles found that over 50% of health insurance policyholders who submitted claims in the last three years experienced either rejection or partial approval. Of the policyholders surveyed who filed a claim within the same timeframe, six in 10 reported that it took between six and 48 hours for their … Read more
Insurance for electric vehicles: Electric vehicles or EVs are gradually gaining popularity in the Indian market. Official data shows that electric vehicles (EVs) accounted for more than 6 per cent of vehicle sales in India in 2023, with electric two-wheelers (E2Ws) constituting over half of the market. Around 5 years back, it was around 1 … Read more
Mumbai: Digital may promise to be a big driver of business from hotels to logistics, but when it comes to insurance, the traditional people-led sales model will continue to dominate the scene as it requires advice based on individual needs, said Tarun Chugh, CEO of Bajaj Allianz Life Insurance Company. The insurer sells half its … Read more
Mumbai, Bajaj Allianz General Insurance on Friday launched a new product in its health insurance vertical offering cashless facilities in four key areas — tele-consultation, doctor consultation, investigations, and annual preventive health check-up covers. Called ‘health prime rider’, the new product is offered to its existing health insurance customers in partnership with Bajaj group entity … Read more