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Ajay Seth , Chairman of the Insurance Regulatory Development Authority of India (IRDAI) on September 17 (Wednesday), launched the official website of Bima Sugam India Federation (BSIF). In a statement, BSIF has been touted as the “first visible step” to building the country’s Digital Public Infrastructure (DPI) for insurance. The development is aligned with the…
The year 2024 has been transformative for India’s life insurance sector, marked by regulatory advancements, evolving customer needs, and innovative product developments. These changes have driven industry growth and reinforced its role in securing the financial well-being of millions of Indian families. The sector has shifted towards greater digitalisation, improved product offerings, and enhanced accessibility,…
The move, being mulled by the Union finance ministry with the help of the Reserve Bank of India (RBI), would also help the government nudge the industry towards its target of insurance for all by 2047, these people said on the condition of anonymity. For insurers, investing in these 50-year on-tap bonds would provide them…
India’s insurance sector has increasingly become a soft poaching ground for e-commerce, quick commerce, and logistics firms, which are hiring aggressively ahead of the festive season in anticipation of a sales surge following last week’s goods and services (GST) rate cuts. The insurance industry experiences very high attrition rates at junior levels, as its young…
The Goods and Services Tax (GST) Council, after its 56th meeting on 4 September 2025, announced a GST exemption on all health and life insurance premiums as part of the central government’s indirect tax rationalisation move. The industry has welcomed this step even though the risk of a higher premium looms due to the losses…
