Life Insurance News: NMC’s Diwali gift: Insurance policy for girl child

In a Diwali gift to girls in families living below poverty line (BPL), Nagpur Municipal Corporation (NMC) standing committee has approved  an insurance policy for all girls born after June 6, 2012. The beneficiary girl child will get Rs 1.24 lakh on attaining the age of 21, without  any investment from her or the family. NMC has decided to implement this scheme through the trusted Life Insurance Corporation (LIC). Read more

IndiaFirst Life Insurance launches MagicBoard; takes customer delight to the next level

dr p nandgopalIndiaFirst Life Insurance, a joint venture between two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General, launched MagicBoard – a one-of-its kind integrated portable fulfillment device for a fully compliant, truthful and efficient Customer sales and service process that has a potential to be a force multiplier in sales productivity, customer delight and cost efficiency.

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Insurance Industry in India must focus from Growth to Development

Dr. P. Nandagopal, MD & CEO, India First Life Insurance Co. Ltd.while addressing the ASSOCHAM seminar said “Peering into the next decade, we realize the way forward is by shifting the focus from ‘Growth to Development’ for all stakeholders which includes customers, distributors,

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Insurance News: Insurance industry to have premium income of Rs 18 lakh crore by 2020: ASSOCHAM

Mumbai, 20th September, 2011: Strong underlying demand tailwinds are likely to push premium income of the Indian insurance industry to Rs 18 lakh crore by 2020, apex chamber ASSOCHAM said today.

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First India-specific report on Ultra HNIs Insights into the earnings, investment and spending patterns launched

Kotak Wealth Management, pioneer and leader in the wealth management industry in India and CRISIL Research, India’s largest independent and integrated research house, launched the ‘Top of the Pyramid’ report recently. This unique report analyses the earnings, investment and spending patterns of Ultra High Net Worth Individuals (UHNIs) in India. Read more

Indian life insurance growth story still intact

A recent survey of the senior executives in the Indian life insurance industry carried out by Milliman suggests that the long-term growth story of the sector is still intact. Despite a sharp fall in new business volumes for the private sector players during FY10-11 following the recent changes to unit- linked guidelines, the survey suggests that senior executives expect a turnaround during FY11-12.

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Capital requirements and constraints in Indian life insurance sector in the current environment

Since the global financial crisis in 2008, capital injections into Indian life insurance companies have fallen off significantly. The level of capital injections dipped from Rs.8,170 crores in FY2008-09, to Rs.4,152 crores in FY2009-10, and down to Rs.2,156 crores in the nine months of FY2010-11.

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