This article explores the latest developments in the life insurance sector, examines factors influencing premium rates, and highlights the role of term insurance in providing cost-effective coverage.
While the non-life industry settled 81.60% of the total claims received, it only paid 35.47% of the total claim amount requested during FY 2023, a massive difference of 44.64%.
New India Assurance and Aditya Birla Life Health Insurance were top performers in settling health insurance claims for FY23, with New India paying over 95% of claims.