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Exploring insurance through experts

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 12th, 2023
One can’t ignore the low insurance penetration in India and the efforts made by the Insurance Regulatory and Development Authority of India (IRDAI) to promote innovation and digitisation in the insurance sector. The introduction of the BIMA SUGAM/BIMA VAHAK joint digital platform allows customers to directly transact with insurance companies, enhancing accessibility and convenience. Digitisation has become a necessity for traditional insurance distributors to remain competitive and relevant. Implementing relevant modules, such as digital portals for policy management and claims initiation, improves efficiency. Product innovation, including niche products targeted to specific customer bases and geography, and combo offerings, cater to evolving customer needs and strengthen relationships between financial institutions and customers.
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 | August 12th, 2023
In today’s evolving landscape of financial security and risk management, young professionals could bring about revolutionary change in the insurance industry. India has a large population of millennials and centennials, and it is important that they view insurance not as an afterthought but as a part of their financial planning. Advancements in technology are opening new opportunities for ins...
Industry Talk | July 19th, 2023
As the IRDAI prepares to unleash these momentous guidelines, the stage is set for a transformative shift in the realm of health insurance for senior citizens. The newfound hope instilled by this standard health insurance product will usher in a future where the elderly can navigate their medical journeys with greater ease, security, and peace of mind.
Basics of Insurance | June 30th, 2023
Planning a trip but not sure whether to opt for travel insurance? Travelling is fun and relaxing but it comes with its share of expenses as well. No traveller wants to spend more money due to unforeseen flight cancellations or lost baggage or medical emergencies. With travel insurance, you will be reimbursed in case you cancel your flight for reasons that are part of your coverage, such as flight delay, lost luggage or a natural disaster. Smart financial planning covers unforeseen risks and that's one solid reason to opt for travel insurance.
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...
Industry Talk | June 30th, 2023
In today's rapidly evolving digital landscape, the insurance industry is undergoing a transformative shift through the integration of technology, known as Insurtech. These solutions have not only revolutionised the way insurance products and services are delivered but also play a significant role in enhancing financial literacy among consumers. By leveraging technology, Insurtech platforms...


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