Insurance sector Current Affairs, GK & News

PhonePe to serve as Direct Insurance Broker

India’s fastest growing Insurtech company, PhonePe, announced it has got an Insurance Broking license issued from the Insurance Regulatory and Development Authority of India (IRDAI) and it will now serve as Direct Insurance Broker. Highlights PhonePe entered the Insurtech sector in the year 2020 with a limited insurance ‘corporate agent’ license. This license had restricted ..

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LIC launched Mobile App for agents

Life Insurance Corporation of India (LIC) launched a mobile app called “Ananda mobile app” for its agents and intermediaries in order to onboard the prospective customers. Key facts ANANDA stands for Atma Nirbhar Agents New Business Digital Application. ANANDA is the paperless solution for new business processes. This digital application will help in onboarding process ..

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Rajya Sabha passes Insurance Amendment Bill

The Rajya Sabha has passed the “Insurance Amendment Bill 2021”. The Bill will amend the Insurance Act, 1938. The bill was passed even after the Opposition parties was criticising the bill for its clause that enable “control and ownership” by the foreign investors. Key Provisions of the bill The bill will increase the limit of ..

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Arogya Sanjeevani Insurance Policy: IRDAI launches Guidelines

The Insurance Regulatory and Development Authority of India (IRDAI) has provided guidelines for the health insurance providers to implement Arogya Sanjeevani Insurance Policy. The regulator had earlier made it mandatory for the insurance providers to frame a policy to provide basic coverage to at least 55% of Indian population. About the policy The “Arogya Sanjeevani ..

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IPPB ties up with Bajaj Allianz to offer life insurance products

State-owned India Post Payments Bank (IPPB) and private life insurer Bajaj Allianz Life Insurance Co Ltd (BALIC) have entered into strategic partnership to provide life insurance solutions. It will allow IPPB customers across segments to access wide array of life insurance products and services especially at doorstep. BALIC is the first life insurer to partner ..

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