Tencent takes more of Indian insurance market with 10% Policybazaar stake purchase

Indian Insurance Market - Tencent HQ

The Chinese tech giant has acquired a minority state in the home, auto and life comparison company. Tencent Holding Ltd. has just taken more of its first steps into the Indian insurance market with an acquisition of a 10 percent stake of Indian online insurance aggregator Policybazaar. This values the Indian company at $1.5 billion. The Chinese technology giant has been working to grab a piece of India’s growing insurance sector. The 10 percent Policybazaar stake was obtained through a purchase of half of Tiger Global Management LLC’s stake in…

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India aligns itself for largest health care overhaul the world has ever seen

India health care overhaul - Flag of India

The country is completely reforming its medical care quality, availability and reduce mortality. India is in the midst of a massive health care overhaul that will become the largest in the world once complete. The goal is to help to ensure health care is available to everyone in the country, not just the wealthy. At the moment, the richest people across the country have ready access to health care. In fact, they can even experience the medical care they need in a luxury resort-style facility. The goal of the health…

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New mandatory cashless health insurance requirement implemented in Punjab

india online senior cashless health insurance

The government of the northern Indian state has now announced that this program is mandatory for its employees. The Punjab government has now announced that it is making its cashless health insurance program a mandatory form of coverage for all of its employees as well as for pensioners. The strategy is meant to help to make sure that coverage is protecting current and retired workers. According to a spokesperson from the Punjab government, it “has notified the cashless health insurance scheme which has been made mandatory for all the government…

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Pet insurance is extremely unpopular in India

pet insurance

According to recent figures, there are very few animal owners in the country who have purchased coverage. Pet insurance is a very unique type of coverage in that there are parts of the world where it has become exceptionally commonplace, and there are others where it has remained virtually nonexistent. India has fallen into that second category, as few owners have chosen to buy health insurance for their pets. This type of coverage helps to cover bills such as those for veterinary visits, medical treatments, surgeries, and even certain medications,…

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Insurance coverage lacking among motorcycles in India

scooter two wheeler auto insurance coverage

Accidents involving any of 75 percent of riders provide no compensation to the victims. Two wheelers – including both motorcycles and scooters – are a very common vehicle in India, but recently released statistics have revealed that almost 75 percent of those riders are operating their vehicles without any type of insurance coverage, which is placing other road users at risk. This is particularly risky for other two-wheelers, cyclists, and pedestrians who don’t have protection. This data has been released by the Insurance Regulatory Development Authority (IRDA). This lack of…

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Airline insurance with 15 percent higher premiums renewed by Air India

airplane airline insurance

This is providing the company with a $26.75 million policy to protect itself against major tragedies. Air India has managed to be able to renew its airline insurance with a mere increase of 15 percent in the premiums that it pays in order to be able to cover its complete fleet of 132 total aircraft. This is notable when taking into consideration that this is an insurance market that has experienced a considerable hardening. The reason that airline insurance usually entails a notably higher rate upon renewal is that it…

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Nuclear insurance pool to be created by Indian government

Nuclear Insurance Power Plant

The purpose will be to help to address the considerable liability issue as the industry continues its expansion. At the moment, there are 20 nuclear power plants in India, and as the industry continues to expand, so will the liability associated with it, causing the government of that country to take the added step to form a nuclear insurance pool that will help to address that increasing risk. The issue of liability has been a powerful one in India, to the point that it has been a barrier in international…

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