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Tag: IRDAI

health claims rejections
Have you ever noticed that the Claim Settlement Ratio (CSR) of nearly any Insurer in India always happens to be over 90%! The Government, with its goal of Insurance for
Issued Guidelines to standardize Health Insurance Exclusion
In April 2024, the insurance regulator IRDAI introduced changes to the health insurance regulations to protect policyholders and improve the health insurance experience. These revisions will be applied to all
Financial Year 2024
SURRENDER VALUE in Life Insurance policies Starting April 1, 2024, as announced by the insurance regulator IRDAI, revised surrender values in non-linked or linked life insurance products – traditional endowment
Cohort based pricing
Health insurance & Cohort-based pricing

By: Insurancepe March 7, 2024

You may have heard the phrase ‘cohort-based pricing’ being tossed around a lot recently; owing to the news that the regulator IRDAI is considering a proposal from health insurers to
The wait for insurance inclusivity. In February 2023, the regulator IRDAI had mandated Insurance companies to offer annual health coverage to disabled, HIV-positive and mentally disabled people. The regulator had
THE DEFINITION OF DEFINITION

By: Insurancepe October 26, 2022

A definition is a description of the nature, scope and the meaning of something. In health insurance, policy wording and definitions of various facilities, diseases, etc. are extremely important. Typically,
If it is true that insurance is not subject matter of solicitation then insurance is not purchased, it is sold. If insurance is sold, then it is one among the
Is Insurance a Subject Matter of Solicitation?

By: Insurancepe September 23, 2022

At the end of every insurance advertisement, we would find the words: “Insurance is a subject matter of solicitation.” It means that insurance has to be requested or asked for,
Mother Kunti Assurance Policy

By: Insurancepe June 28, 2022

Mahabharata’s Kunti was given a boon (by Rishi Durvasa) of getting children by invoking the Devas. At 13, she invoked Surya, got pregnant and gave birth to Karna. Fearing outrage
Moksha/Heaven/Janna assured Insurance

By: Insurancepe June 13, 2022

The IRDAI’s recently allowed all general insurance companies to introduce products without seeking prior approval from the Regulator. This initiative enables insurers to float people centric insurances. Allow us to