GIC in the News

AI - Connecting Bharat with India

Thursday 14 August, 2025

“India lives in its villages,” said Mahatma Gandhi. In 2025, those villages are also going digital, mobile-first, and increasingly insured. With IRDAI’s bold mandate requiring insurers to cover 50,000 Gram Panchayats (GPs) under rural, social, and motor (third-party) lines by FY’27, we’re witnessing a transformative moment in Bharat’s insurance journey. It’s not merely about compliance; it’s about building a resilient India where financial protection is as ubiquitous as digital payments.

Health protection beyond borders: Securing your wellbeing while abroad

Thursday 14 August, 2025

Indians are travelling more than ever, and their international footprint is rapidly increasing. In the first half of 2024, 15 million Indians travelled abroad, marking a 14% year-on-year rise and a 12% growth compared to 2019. Not just that, more than 1.33 million Indian students were pursuing higher education abroad as of January 2024. As a result, more family members visit their wards settled abroad, often for prolonged stays. Additionally, people are sometimes forced to go overseas to seek medical treatment, particularly for advanced oncology, organ transplants, and robotic surgeries. Thus, as the time spent outside India increases, so do the health risks.

Health Insurance is No Longer Optional – It’s Essential for Every Indian Household

Thursday 14 August, 2025

India’s health insurance landscape has undergone a paradigm shift over the past decade. It is no longer a luxury; it is a critical safeguard against escalating medical costs. With hospitalization expenses increasing 10–15% annually, a single major treatment can cost several lakhs, threatening the financial stability of entire families. Health insurance provides a vital safety net, protecting not just the patient but their loved ones from unexpected financial hardship

Investigation – an Investment to Prevention

Wednesday 13 August, 2025

The insurance business is built on the foundation of trust, wherein insurers trust that information provided by customers while buying a policy is true, and in turn, customers have faith that insurance companies will be there by their side in case of an exigency. Frauds in the insurance industry are rampant, which leads to cracks in this foundation of trust. The fraudulent cases in insurance have been on the increasing trend for the past few years which has led to the Investigation & Loss Mitigation function in companies plays a crucial role in the insurance industry to counteract these illegal activities.

No NOC for RC, Insurance Renewal without Paying Toll Dues

Wednesday 16 July, 2025

Those with pending toll dues for use of National Highways (NHs) will soon not be able to get a no-objection certificate (NOC) for renewal of registration and insurance, change of ownership, transfer and issuance of fitness certificate. The road transport ministry has issued a draft notification to introduce this change in Motor Vehicle Rules, to boost digital collection of toll fees and ensure that no one gets a free ride on tolled highways. The move gains further importance in light of the National Highways Authority of India

The Hidden Health Crisis: Sleep Apnea’s Rise and the Urgent Need for Insurance Reform

Thursday 14 August, 2025

Obstructive Sleep Apnea (OSA) is a chronic sleep related breathing disorder with complete or partial blockage of the upper airway during sleep. These interruptions during sleep, impact oxygen flow to the lungs (and subsequent delivery to vital organs), degrades sleep quality and overall health. Symptoms of OSA include loud snoring, insomnia, fatigue, dry mouth/sore throat, short-term memory losses, difficulty in concentration, morning headaches, and even depression

PAN India Insurance Awareness and Education Campaign

Wednesday 28 May, 2025

General Insurance Council on behalf of the industry has recently launched a PAN India Insurance Awareness and Education Campaign, aimed at raising awareness around the value of general insurance across the country. The Films / Hoardings made their appearance during the first week of May 2025 in key Major Cities/ Towns and on TV Channels.

Beyond Silos

Saturday 07 June, 2025

During my tenure at a large insurance company, the head of a Branch and I visited a large commercial bank. The bank was placing a considerable amount of health insurance business with that Branch of the insurance company. During the conversation, I was glad to note that the Bank was very happy with our services

Insurance firm told to pay for vehicle damage after fatal crash despite overloading claim

Monday 28 July, 2025

The state consumer commission directed a public sector insurance company to compensate a Dehradun resident for damages to his commercial vehicle, which crashed in 2017, killing three passengers. The insurer had denied the claim citing overloading, but the commission found no evidence to support the allegation

Responsible AI: Super Hero Suit We Must Learn to Wear Responsibly

Saturday 14 June, 2025

It was one of those quiet Monday mornings. I was making chai, the house still echoing with the sleepiness of a new week. My 13-year-old son, half-dressed for school, looked up from his cricket bat and asked me a question that stopped me mid-stir.

IRDAI Launches Shared Hospital Network and Faster Cashless Claims

Monday 19 May, 2025

In a move to make health insurance more accessible and affordable for Indian citizens, the Insurance Regulatory and Development Authority of India (IRDAI) has initiated a shared hospital network and streamlined cashless claim process. This measure is set to enhance transparency in treatment costs and expedite insurance services for policyholders

Insurer can’t reject claim over diabetes non-disclosure, rules Bengaluru consumer forum

Thursday 29 May, 2025

Diabetes, though a common lifestyle condition, can't be treated as a non-disclosed pre-existing illness when it comes to health insurance, the IV additional Bengaluru Urban district consumer commission ruled recently. It termed an insurer's denial of an elderly couple's claim a deficiency in service and ordered it to pay Rs 76,000 to clear the claim.

India approves three Russian insurers for marine cover till February 2026

Friday 16 May, 2025

India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market.

Heatwave Insurance

Sunday 25 May, 2025

Heatwave Insurance Scheme has been launched by Climate Resilience for All (CRA) and Self Employed Women's Association (SEWA), in which maximum temperature is 40 degrees

Mediclaim policy amount can t be deducted from medical compensation HC

Friday 25 April, 2025

A sum received by a person under a mediclaim policy cannot be deducted from the compensation amount payable to the claimant for medical expenses under provisions of the Motor Vehicles Act, the Bombay High Court has said. The amount under a mediclaim policy is received in view of a contract entered into by the claimant with the insurance company, a full bench of Justices A. S Chandurkar, Milind Jadhav and Gauri Godse said in its judgement on March 28.

Car owner liable to pay crash damages if hired driver has no licence HC

Monday 24 March, 2025

The MP High Court has said that if a driver hired by a person doesn't have a valid driving licence and dies in an accident, the person hiring him would be liable to pay compensation to his kin rather than the insurance company with which the vehicle is insured. The court ordered the insurance company to pay the compensation awarded to the family of the deceased driver by the labour court for now and subsequently recover it from the owner of the vehicle.

The Great AI Evolution From AI to Gen AI

Thursday 17 April, 2025

Imagine planning a road trip. Initially, you’re the driver, using a paper map (traditional insurance operations). Then, GPS enters the scene, giving you directions (AI-Gen – automation and AI-generated insights). But soon, self-driving cars take over, not just guiding you but making real-time decisions based on traffic, weather, and even your favorite coffee stops (Agentic AI – autonomous decision-making). That’s the journey AI is taking in the insurance world.

NHA enhances health benefits package rate to rope in more hospitals

Monday 24 February, 2025

In a bid to encourage more corporate hospitals to join the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), the National Health Authority (NHA) has revised the Health Benefits Package (HBP) by introducing a tiered incentive system to make package rates more attractive and viable for private sector healthcare providers.

India Expands Mental Health Insurance Coverage

Tuesday 25 March, 2025

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new Master Circular aimed at enhancing health insurance options for policyholders. Effective from May 29, 2024, this directive mandates insurers to offer products that cover a wide range of medical conditions, including pre-existing and chronic diseases. Additionally, insurers must comply with the Mental Health Care Act of 2017, ensuring that mental health coverage is included in their offerings.

As cyber threats evolve

Wednesday 02 April, 2025

Rs 20,000 crore, a staggering figure! According to a CloudSek report, India (check if it is corporate losses or personal or both put together) could face this much of loss current year because of cybercrime. That cybercrime has reached another level as these days cybercriminals have started using sophisticated AI tools, which gives them power to multiply. India could face a whopping 1 trillion cyberattacks by 2033 unless businesses do more manage risk.

Why Does Awareness of Insurance Not Translate to Action?

Thursday 13 February, 2025

Despite concerted efforts by the insurance industry, the Insurance Regulatory and Development Authority of India (IRDAI), and the General Insurance Council, the penetration of general insurance in India remains abysmally low. While a lack of awareness was historically cited as the primary culprit, today’s reality is far more complex. Awareness campaigns like "Bima Bemisaal" have ensured people know about insurance, but awareness alone isn’t leading to action. Why is this the case?

New Zealand Health insurance premiums are surging

Friday 21 March, 2025

Medical costs in New Zealand have surged significantly in recent times in the Asia-Pacific region and across the world too according to Aon's 2025 Global Medical Trend Rates report. According to the report, New Zealand’s medical trend rate surged from 7.4% in 2024 to 14.5% in 2025, marking one of the sharpest year-on-year increases.

Confronting Cancer Crisis with Health Insurance Plans Providing Cancer Coverage

Thursday 13 February, 2025

Cancer is a major health concern, affecting a wide cross-section of India’s population. The Indian Cancer Congress (ICC) has highlighted that India is facing a significant increase in the absolute number of new cases annually. In the last decade, the number of cancer diagnoses has surged. Currently, 1.4 million new cancer cases are detected each year, with projections indicating a rise to 2 million by 2040. As per a report by the National Cancer Registry Programme (NCRP) under the Indian Council of Medical Research-National Centre for Disease Informatics and Research (ICMR-NCDIR) about one in nine people in India will be diagnosed with cancer in their lifetime. This is an alarming situation and needs our urgent attention.

Singapore s general insurance sector grows 6.3% to $8.08bn in 2024

Friday 28 March, 2025

Singapore's general insurance sector continued its upward trajectory in 2023, recording solid growth across both domestic and offshore segments, according to the General Insurance Association of Singapore (GIA). Total gross written premiums rose by 6.3% y-o-y to reach S$10.8bn ($8.08bn), while overall underwriting profit climbed 5.6% to S$642.31m. The domestic market saw gross written premiums grow by 8.3%, outpacing the previous year’s performance.

Agentic AI: The Thinking Machine That Will Revolutionize Indian Insurance

Thursday 06 February, 2025

"Sir, your claim has been settled." Rahul blinked at his phone. No endless paperwork, no waiting for a call from the insurer—just a simple notification confirming his insurance claim was processed. He hadn’t even spoken to a human.

PM Jan Dhan Yojana: Overdraft facility of Rs 10000, accident insurance up to

Saturday 28 December, 2024

Pradhan Mantri Jan Dhan Yojana: The government has shared lesser-known benefits of PM Jan Dhan Yojana (PMJDY) scheme for its subscribers. The PMJDY is a scheme that provides a basic bank account to every unbanked adult in India

Madhya Pradesh and Kerala have highest insurance coverage of senior citizens over 70 years under Ayushman Vay Vandana

Tuesday 28 January, 2025

The Ayushman Vay Vandana initiative, which aims to provide free healthcare to senior citizens aged 70 and above, has enrolled 25 lakh beneficiaries as of December 2024. This represents inclusion of 4 percent of eligible 6 crore senior citizens over 70 years since launch of the program in October.

Lessons from LA Fires: Get the Right Fire Insurance for Your House

Wednesday 15 January, 2025

The recent devastating fires in Los Angeles have underscored the importance of having the right fire insurance for homeowners. As communities rebuild and recover, it’s a reminder that preparation is key when protecting one’s property

Responses attributed to Mr. Chirag Bhojani - Head - Data Science & Analytics

Tuesday 24 December, 2024

1. What is the current state of AI adoption in India? Is there a surge on insurers leveraging AI to streamline processes?

Bridging the Gap: Unlocking the Potential of Health Insurance in India

Thursday 13 February, 2025

India’s health insurance sector stands at a curious crossroads. Despite a population exceeding 1.4 billion and growing economic prosperity, insurance penetration in comparison remains alarmingly low. Only 50 million individuals have personal retail health insurance, leaving a vast majority vulnerable to the risk of financial burden arising out of potential medical exigencies. While this glaring gap is a national challenge, it also presents an opportunity - a chance to expand coverage, drive awareness, and reshape the healthcare landscape of the world’s most populous country

China's new energy vehicle growth transforms the country's motor insurance market

Friday 10 January, 2025

As China continues to lead the way globally in producing and selling new energy vehicles (NEV), the trend has spurred a sixfold increase in related insurance premiums for this segment in just the past five years alone, according to a new AM Best report. NEV premiums now represent 11.5% of China’s total motor insurance business, momentum that AM Best expects to continue as a key element of future market growth. However, the higher claims frequency and repairs costs associated with NEVs are posing a challenge for small and medium-sized insurers when it comes to profitability.

Malaysia: Insurers to get more transparent on medical premium hikes

Friday 10 January, 2025

All insurance companies in Malaysia must implement measures for premium sharing with policyholders starting from 15 January 2025. Country’s deputy finance minister Lim Hui Ying has said that individuals who received premium increase notices last year can contact their insurers

Cut mediclaim sum from crash victims total relief says Karnataka HC

Tuesday 04 February, 2025

The amount received by an accident victim under a mediclaim policy must be deducted from the total compensation under the head of medical expenses and hospitalisation charges, Karnataka HC has held based on Motor Vehicles Act. Justice Hanchate Sanjeevkumar directed Oriental Insurance Company to pay Rs 4.93 lakh along with interest of 6 percent a year to the family of S Hanumanthappa, a resident of Marathahalli in Bengaluru, after deducting Rs 1.8 lakh he had received from mediclaim.

Wedding Insurance

Thursday 15 May, 2025

In India, weddings are one of the most significant milestones in life, often planned with great care and substantial financial investment. The industry is now valued at a staggering $130 billion (₹10.7 lakh crore). The costs continue to rise, with budgets surging 14.29 per cent year-over-year, reaching an average of ₹32-35 lakh per wedding.

Australia: Reducing insurance taxes can bring premium relief

Friday 16 May, 2025

Reducing state government taxes in Australia is perhaps the best and fastest way to bring relief for the insurance customers who are burdened by higher insurance premium in the aftermath of rising natural disasters according to QBE chairman Mike Wilkins

China: Tip-off service to combat medical insurance fraud

Friday 18 April, 2025

In its fight against fraud in health insurance funds China has launched a series of measures in the recent past. In yet another move, China's National Healthcare Security Administration in April this year launched a tip-off service via its official WeChat account, enabling social organisations and the public to report leads on medical insurance fraud.

Thailand: Regulator names four risks insurance tools should play a role in –Asia Insurance Review

Friday 15 August, 2025

At the opening ceremony for the 13th National Anti-Corruption Commission (NACC) training course, chairman of the Office of the Insurance Commission (OIC) Lawaron Sangsanit delivered a special address. As part of the address, Mr Sangsanit listed four risks that insurance tools should play a role in managing, namely