HDFC Life launches Google assistant bot for stay-at-home policy servicing

• HDFC Life's Ezra offers intelligent services like handling of dynamic queries and offering insights into policies

New health insurance plan launched: 100% cashless coverage, even for COVID-19

• Under this insurance, the policyholders will never fall short of coverage
• For COVID-19-related hospitalisation, the initial waiting period of the policy will be 15 days

Insurer ICICI Lombard in talks to buy Bharti AXA

• Both companies are negotiating the valuation of Bharti AXA
• The acquisition plans come at a time when the general insurance industry is reeling due to the disruption caused by the covid-19 pandemic and the economic slowdown

LIC offers up to ₹2,500 concession on revival of lapsed policies: 5 points

• Concessions are limited to late fee only, LIC said
• The two-month campaign will end on 9th October

Frequent earthquakes prompting people to look for home insurance: Survey

• According to the online survey, five out of ten respondents in Delhi said that earthquakes have made them anxious to think about buying home insurance
• Around 10 per cent of respondents who do not have a home insurance yet said that they were planning to buy home insurance in the near future

LIC to launch revival campaign for lapsed policies

• Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years
• The policyholders will get 20 per cent late fee concession for revival while 25 per cent concession between ₹1 lakh and ₹3 lakh

Auto insurance claims will now be filed in minutes via online agents

• This online agent may come handy to the users, especially during a pandemic
• The insurance company earlier implemented various initiatives to provide a hassle-free service to customers

Bajaj Allianz General announces premium instalment options for health cover

• Customers having a net premium of ₹12,000 or more would be able to opt for the monthly instalment option
• If a customer wants to opt for the premium instalment facility, the customer has to register an e-mandate with his or her banker

Life insurance: Physical signatures not required to buy a new policy

• Insurer can send the completed proposal form to the customer's registered e-mail ID or mobile number in the form of an e-mail or a message with a link
• The customer can then give his consent by clicking the confirmation link or by validating the OTP shared

LIC's new business premium jumps 25% in FY20

• New business premium income of LIC's pension and group superannuation business reported nearly 40% growth

Insurers see spurt in surrender of policies

• People have started borrowing against life policies as collateral more than before so that they are able to continue to have cash all the time, life insurers said
• The increasing policy surrenders come as another blow to insurers who are already battling low new premium collections

Life insurance claims: All you need to know about Section 45 of Insurance Act

• An insurer cannot question any life insurance policy on any grounds after three years

LIC Pradhan Mantri Vaya Vandana Yojana: All you need to know

• LIC Pradhan Mantri Vaya Vandana Yojana assures guaranteed pension for 10 years
• For the first financial year upto 31st March 2021, the scheme will provide an assured pension of 7.40% p.a.,payable monthly

Tata AIA Life Insurance promises claim pay-outs in four hours

• Tata AIA Life also offers home-collection services where nominees do not ned to visit Tata AIA Life branch to register their claim

This cyber insurance policy will cover you from card frauds to data theft

• ICICI Lombard General Insurance has recently launched a cyber insurance policy with a gamut of new features
• This policy will also cover threats such as reputation injury and loss of wages because of cyber frauds

New health insurance scheme launched: Hospital bills not required for claim

• 'This includes both customers who already have medical insurance and those who don’t have it,' Gunjan Ghai, PhonePe said
• Buyers can also claim hospitalisation charges for COVID-19 as well, based on the terms and conditions

Life insurance claims: Five mistakes to avoid

• Insurers cannot reject claims after completion of three policy years

Standardized packages will bring down treatment cost, say experts

60-65% of the claims are being processed based on standardized rates, says ICICI Lombard’s Bhargav Dasgupta

Reinsurance firms reluctant to cover covid-only plans

If the frequency assumption on number of people who fall sick goes wrong, reinsurers could lose a lot of money

Reimagining a digital future for a sector driven by relationships

It will be crucial for insurers to leverage digital capabilities to deliver a superior customer experience