In the fast-paced world, everyone needs safety for themselves and their families. That’s where different insurance products step in. Over the past years, the demand for insurance products has skyrocketed, given the rising medical expenses and inflation. These products provide…
While the previous budget seems fairly capable on paper, it has many loose ends according to experts. These include stringent taxes, impractical incentives for MSMEs, feeble credit facilitation, stern duty on life-saving drugs, so on and so forth. Nevertheless, the…
A journey of entrepreneurship is full of challenges and rewards. There is no such thing as “continued success” in the business world unless you have a market monopoly like Google and Apple. Almost every business tends to face anomalies that…
Insurance brokering is among the potential business models in India. The success of this business model stems from the evolving customer lifestyle and growing demand for diverse insurance products. Being an insurance broker is not just about facilitating services to…
The Insurance Regulatory and Development Authority of India (IRDAI) comprehensively governs insurance companies in India, regulating every facet, including registration, operation, corporate governance, audit, finances, etc. Insurance companies seeking IRDAI approvals must abide by pre-registration compliances and a standardized procedure…
If you are looking for a business model that is sustainable, growth-oriented, and long-lasting, insurance brokering could be your best bet. As the demand for diverse insurance products continues to rise, insurers are increasingly looking for viable brokering partners to…
Reinsurance is an arrangement wherein an insurer (aka ceding company) opts for insurance from a reinsurance company to minimize potential losses tied to insurance issued by the former. Simply put, reinsurance provides a predetermined threshold of protection to insurance issued…
Insurance brokers have carved a special position in the insurance sector by boosting insurers’ business. In the status quo, they have emerged as reliable partners for streamlining insurers’ operations. However, the way they operate is confined to IRDAI’s insurance broker…
Health insurance is a must-have financial aid in the status quo. It enables individuals to seamlessly address medicare expenses without denting their financial standing. It brings financial well-being and peace of mind to policyholders. However, at times, it becomes overwhelming…
A Third Party Administrator (TPA) has proven as a staple for insurance companies seeking assistance with claim processing, cashless treatment, etc. With IRDAI approval, TPA can work with registered insurance companies via any legal agreement, boosting profitability and clients’ presence.…