A Third Party Administrator license lets companies handle health insurance work for insurance companies. The Third Party Administrator helps process claims, approves hospital treatments, and supports customers. To become a TPA, companies need permission from IRDAI (Insurance Regulatory and Development…
The demand for insurance products in India is touching new benchmarks every passing year. The insurance sector stands as the strongest pillar of the Indian economy, offering the holy grail of opportunities to entrepreneurs. If you want to kickstart a…
In the world of insurance, the two most common terminologies are the insurance agent and the insurance Broker. While they sound similar, they adhere to several differences and serve distinct roles and responsibilities. That said, here is everything you need…
Web Aggregator in Insurance sector plays an instrumental role in boosting insurers’ reach and growth through their online platform. With an intuitive layout and a range of filtering options, the web aggregator eases the blow for policy-seekers, helping them select…
Starting a business should not be like paying attention to irrelevant details or going back and forth with legalities. Instead, it must be a hassle-free journey so that you can focus on things that drive value. In this guide, we…
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…
Third-party administrators (TPAs) are an indispensable part of the insurance ecosystem. From assisting with critical tasks like claim assessment, and policy selection to client support, TPAs have reshaped the way health insurers operate and manage their policies. Although being a…