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Insurance 101: Shielding against losses. Pay premiums, get coverage. Policy outlines terms, deductibles, and limits. Make claims for compensation.
Basics of Insurance | July 17th, 2024
Insurance could be a whirlpool of confusion for someone new to the insurance space with terms like deductible, co-payment and Bancassurance leaving one utterly stumped. After navigating the aforementioned insurance terms, it’s time to tackle ‘Pre-Existing Diseases’. This term plays a significant role in the health insurance segment as it determines your coverage and risk factors. Before c...
Basics of Insurance | May 1st, 2024
Reinsurance plays a crucial role in India's insurance industry, aiding insurers in effectively managing risks and ensuring their long-term sustainability.
Industry Talk | October 27th, 2023
Achim Steiner, Under-Secretary-General of the United Nations & Executive Director of the United Nations Environment Programme rightly observes: “In 1992, the risks to people and the planet from accelerating environmental degradation and social inequalities were just being glimpsed.
Basics of Insurance | October 13th, 2023
As our loved ones age, it becomes crucial to prioritise their health and well-being. The ongoing pandemic has highlighted the significance of senior citizen health insurance, given the higher vulnerability of older adults. Such insurance plans can offer comprehensive coverage and access to quality healthcare without exhausting their life savings. When purchasing a health insurance plan for your mother, consider factors like coverage for pre-existing conditions, the network of hospitals covered, an adequate sum insured, co-payment clauses, waiting periods, renewal age, premiums, and claim settlement ratio. By carefully evaluating these aspects, you can select a plan that meets your mother's healthcare needs and ensures her continued well-being.
Basics of Insurance | October 11th, 2023
Bima Sugam is a forthcoming digital platform in India that aims to transform the insurance industry by providing a comprehensive single-window platform for purchasing insurance policies. Supported by the IRDAI, Life Insurance Council, and General Insurance Council, the platform will offer a wide range of insurance products and services, making it easier for customers to compare and purchase policies based on their preferences. It is anticipated to enhance transparency, accessibility, and competition in the insurance sector while saving customers time and effort. Although the launch has been postponed, Bima Sugam is eagerly awaited as it has the potential to simplify and streamline insurance policy purchases in India, ultimately increasing insurance penetration.
Basics of Insurance | October 9th, 2023
Innovation is a tricky and complex terrain; social media is trickier. According to the Khoros’ 2022 Social Media Demographics Guide, 42 % of the world’s population is using social media. Wondering how social media affects insurance? For insurers, this offers an opportunity to understand the audience characteristics of specific networks that are relevant to them — this is why we need to fo...
Industry Talk | June 30th, 2023
As technology continues to revolutionise industries, the insurance sector is no exception. The digital age has brought about a shift in customer expectations and behaviour, forcing insurance companies to re-evaluate their business models and adapt to changing market dynamics. The need for digital transformation has become more urgent than ever, with companies looking to modernise their operatio...
Expert Op-Eds | June 30th, 2023
From self-driving cars to ChatGPT, Artificial Intelligence seems to be omnipresent. It makes machines intelligent and more functional. Even though many industries are embracing AI to automate their processes, the insurance sector is yet to warm up to it. However, with the arrival of InsurTechs AI is slowly becoming infused into the digital landscape of insurance companies.Let’s first explore ...
Industry Talk | June 30th, 2023
Over the years, insurance companies in India have been more focused on traditional ways of distribution and operations which are paper-based and require face-to-face contact with customers in order to conduct business. In 2020, when the world was hit by a pandemic and face-to-face interactions were not possible, digital transformations were put on the fast track. Both manufacturers & distr...

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