Health Insurance Ecosystem CEO S. Prakash Appointment by GI Council on 7th January 2026. Key responsibilities include improving claims efficiency, policyholder trust, and standardizing treatment protocols in India’s health insurance sector. 📌 GI Council Appoints S. Prakash as CEO for Health Insurance Ecosystem The General Insurance Council (GI Council) has appointed S. Prakash as the…
100% FDI Insurance India approved under Insurance Amendment Bill 2025, boosting capital, competition, and innovation in the Indian insurance sector. Insurance Amendment Bill 2025: Cabinet Approves 100% FDI in Indian Insurance Sector Introduction: A Landmark Decision by the Union Cabinet The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Insurance Amendment Bill,…
Bima Sugam, the new digital insurance marketplace by IRDAI, enhances accessibility, transparency, and management of life, health, motor, travel, and general insurance. Learn features, benefits, and exam relevance. IRDAI Launches Bima Sugam: A Unified Digital Insurance Marketplace Introduction to Bima Sugam The Insurance Regulatory and Development Authority of India (IRDAI) has introduced Bima Sugam, a…
IRDAI penalizes Policybazaar ₹5 crore for regulatory violations including misleading insurance rankings, delayed premium remittance, and governance lapses. Key updates for insurance and government exam aspirants. IRDAI Imposes ₹5 Crore Penalty on Policybazaar for Regulatory Violations Misleading Product Rankings and Biased PromotionThe Insurance Regulatory and Development Authority of India (IRDAI) has levied a ₹5 crore…
Ajay Seth IRDAI chairman appointment explained for exams: tenure, powers, insurance penetration, Bima Trinity, policy reforms, and top FAQs with MCQs for UPSC, Banking, and State PSC. Ajay Seth Appointed Chairperson of IRDAI Appointment of Ajay Seth as IRDAI Chairman The Government of India has appointed Ajay Seth, a 1987‑batch IAS officer of the Karnataka…
State-Specific Health Insurance Plans by Bajaj Allianz offer affordable, localized coverage across 25 states and 5 UTs with wellness rewards and festival bonuses—key for students preparing for competitive exams. Bajaj Allianz Launches State‑Specific Health Insurance Plans Personalized Protection for Local Needs Bajaj Allianz General Insurance has introduced a unique State‑Wise Health Insurance Policy, tailored to…
IRDAI Mandates Shorter Audit Tenures to Boost Governance in Insurance Sector The Insurance Regulatory and Development Authority of India (IRDAI) has introduced new regulations mandating shorter audit tenures for insurance companies. This significant move aims to enhance governance, accountability, and transparency within the insurance sector. New Audit Tenure Regulations Under the new guidelines, IRDAI has…
Bajaj Allianz Life Insurance has introduced the Bima-ASBA (Application Supported by Blocked Amount) facility, becoming the first insurer in India to implement this innovative payment system. Launched on February 22, 2025, this initiative aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) efforts to enhance policyholder convenience and transparency in premium payments. Understanding…
Bima Sugam: A Step Towards a Digital Insurance Ecosystem The Indian government has introduced a new initiative, Bima Sugam, which aims to streamline the insurance sector and create a more efficient and transparent digital ecosystem. This platform is designed to bring together insurance companies, distributors, and customers under one unified system, simplifying the buying and…
Freo Secures IRDAI License to Expand Insurance Offerings Freo, a prominent fintech company, has made headlines recently by securing a license from the Insurance Regulatory and Development Authority of India (IRDAI) to expand its insurance offerings. This strategic move marks a significant milestone in Freo’s journey to diversify its financial services and cater to a…
