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TREND | 30 Dec 2024, 04:15PM

Health insurers disallowed claims worth Rs 15,100 cr during FY24: Irdai

Business Standard

Health insurers disallowed claims worth Rs 15,100 crore or 12.9 per cent of the total claims filed during fiscal 2023-24, according to data released by regulator Irdai. Of the total Rs 1.17 lakh crore claims under health insurance of general as well as standalone health insurers, only Rs 83,493.17 crore or 71.29 per cent were paid during the year ending March 2024. Further, insurers repudiated claims amounting to Rs 10,937.18 crore (9.34 per cent) while outstanding claims totalled Rs 7,584.57 crore (6.48 per cent), said the annual report 2023-24 of Insurance Regulatory and Development Authority of India (Irdai). There were about 3.26 crore health insurance claims during 2023-24 with insurers, of which 2.69 crore (82.46 per cent) claims were settled. Irdai said the average amount paid per claim was Rs 31,086. In terms of number of claims settled, 72 per cent of the claims were settled through TPAs and the balance 28 per cent of the claims were settled through in-house mechanism. I

Insurance

TREND | 30 Dec 2024, 02:17PM

Insurance and Pharma sectors poised for outperformance: Abhay Agarwal

Economic Times

We expect that while the intensity of downgrades will not be as high because this time the expectations are not as high, still there will be further downgrades.

Small-cap stock Vakrangee jumps 5% after partnership with Shriram Life Insurance: Stock inches close to 1 year high

livemint | 30 Dec 2024, 12:59PM

Insurance

TREND | 30 Dec 2024, 12:04PM

Health insurance and the fragile fabric of trust

Business Line

There is an urgent need to address systemic flaws within health insurance ecosystems globally

Insurance

TREND | 28 Dec 2024

Insurance Query: Protecting your EV

Business Line

A comprehensive EV insurance policy will provide cover against risks, similar to any standard motor insurance

A year of change in health insurance: Amit Chhabra, CBO - General Insurance, Policybazaar

Business Line | 28 Dec 2024 1 more

Insurance

TREND | 28 Dec 2024

Insurance penetration ratio has a long way to go, says WWB's Kalpana Ajayan

Business Standard

Initiatives like Jan Dhan Yojana and Jan Suraksha have significantly boosted women's participation in financial services

Axis Max Life Insurance To Discontinue Max Life Pension Fund Management

NDTV Profit | 27 Dec 2024

Insurance

TREND | 26 Dec 2024

WT-ECIB scheme likely to benefit 1,000 new small exporters, says govt

Business Standard

The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance from banks for working capital, an official statement said. The commerce ministry in its 2024 year-end review said that the Export Credit Guarantee Corporation of India (ECGC) has extended the scope of its Whole Turnover Export Credit Insurance for Banks (WT-ECIB) scheme to export credit working capital limits up to Rs 80 crore with effect from July 1. "ECGC aims to improve the export credit offtake for MSME exporters and reduce the export credit gap through this scheme, which is expected to benefit around 1,000 new small exporters, in addition to around 8,000 existing exporters," it added. It also said that the India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA) negotiations are ongoing with the 14th round of...

Insurance

TREND | 26 Dec 2024

Why Consider A High-Value Health Insurance Plan?

Business Line

Insurance

TREND | 26 Dec 2024

Markets open higher on global cues, Santa rally hopes

Business Line

Key gainers included BPCL and SBI Life Insurance, while the rupee weakened to a record low of 85.25 against the US dollar.

In a first, micro Insurance premium in life segment tops Rs 10k cr in FY24

Business Standard | 25 Dec 2024 3 more

Insurance

TREND | 25 Dec 2024

Trump policies on tariff, deregulation, immigration policy, tax cuts will impact global economy

Business Line

Ashwani Dhanawat of Shriram General Insurance Company on his company, the sector, opportunities in today's competitive environment, markets, and much more

Insurance

TREND | 24 Dec 2024

UPI, Insurance Adoption See Significant Growth In Rural India: Report

NDTV Profit

The findings are based on real transaction data from over 1 million small retailers, including mobile recharge outlets, and other financial service providers in rural and semi-urban regions of India.

Life Insurance Sector Check - Navigating The Changes In Surrender Charges: Motilal Oswal

NDTV Profit | 24 Dec 2024 4 more