Multiple disruptions in the Insurance Sector, reflects report

According to a report, the insurance industry in the country is undergoing lots of disruptions. And there are projections that it will only go higher in the future. Disaggregation of the value chain is one of the major factors behind the evolution of business model and operation of insurance companies. This observation was found out by Assocham, an insurance industry…

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SBI Life Insurance Company’s IPO gets 13% subscriptions

State Bank of India’s insurance arm, SBI Life Insurance got started with its IPO. The IPO issue by the insurance company got 13% subscription or 13x. As of today, the issue stands at 8,82,00,000 shares. During the day there were bids for 1,10,52,447 shares. And in total there were bids for 79,30,503 shares at the cut-off price. So SBI Life…

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Sebi Approves New India Assurance’s IPO

As per the latest updates by SEBI, New India Assurance has received a green flag for its Initial Public Offering. New India Assurance, the state-owned non-life insurance company, which also happens to be the largest in the country in its category, had filed its draft application back in August. For any IPO “Observations” is necessary, which the company received on…

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Two state owned general insurance companies to help government raise Rs. 15000 crores

According to a couple of merchant banking sources, the government will be able to raise Rs. 15000 crores by taking two state-owned general insurance companies public. At present, there are five general insurance companies owned by the government, out of which New India Assurance (NIA) and GIC Re will be up for IPO in a few weeks’ time. By diluting…

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SBI Life Insurance IPO to hit the markets on September 20

SBI Life Insurance, the insurance arm of State Bank of India will open up to initial public offering or IPO on the 20th of September. The intention of joining the capital market is to raise Rs. 8400 crores and also benefit from listing their equity shares on the exchanges. The initial offer for sales of shares will be open from…

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IRDAI allows you to open an Online Insurance Account using OTP

Insurance Regulatory and Development Authority of India or IRDAI has given a green flag to the usage of One Time Password or OTP for the opening of an e-insurance account. This move aims to provide another option in place of electronic signatures. One of IRDAI’s primary goals has been to look for ways to improve insurance penetration. IRDAI also has…

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SBI Life Insurance IPO launch may happen later this month, likely to fetch Rs. 8000 crores

In the third week of this month, State Bank of India will most likely launch the public offering or IPO of its insurance arm, SBI Term Life Insurance. With the IPO the PSU bank aims at raising about Rs. 8000 crores. The company has already applied for approval from the Securities and Exchange Board of India (SEBI) and Insurance Regulatory…

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IRDAI confirms that Aadhar data is not mandatory for insurance products

The Insurance Regulatory and Development Authority of India (IRDAI) has made it clear that it is not mandatory for insurance companies to use Aadhar number to authenticate clients or policyholders. They can do so only if they have the consent of the client or policyholder. A couple of circulars in the year 2013 and 2015 allowed insurers to use e-KYC…

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MD Rajesh Sud says Max Life is exploring business opportunities with insurance companies

Max Life Insurance is on the lookout for a new business venture with insurance companies and the deal will be backed by the banking division. This comes in after the last deal with HDFC Life Insurance did not take off, owing to regulatory related issues. Rajesh Sud, the Executive Vice Chairman and MD of Max Life said that company is…

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The Real Story Behind Buying Insurance from an Agent

The Real Story Behind Buying Insurance from an Agent

Buying an insurance is as simple as 1, 2, and 3 in this fast-evolving world. However, it is the research and methodology you put in before the buying process is what matters the most. Insurance is a life-saver for many, especially in times of need when a relative passes away and the next of kin gets an assured sum of…

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