http://www.bimaworld.com/forums/ Indian Insurance Community Forums en Fri, 10 Feb 2012 09:57:59 +0000 http://www.bimaworld.com/forums/topic/what-if-a-insurance-agent-can-get-instant-comission#post-5073 Mon, 28 Nov 2011 21:39:28 +0000 Anonymous 5073@http://www.bimaworld.com/forums/ <p>need ur views my agents on the above said topic...kindly discuss </p> http://www.bimaworld.com/forums/topic/oss-retails-partners-with-life-insurance-corporation-lic-to-offer-premium-paymen#post-1367 Sat, 29 May 2010 10:43:53 +0000 Anonymous 1367@http://www.bimaworld.com/forums/ <p>OSS group the fastest growing corporate entity globally has alliance with Life Insurance Corporation (LIC) to facilitate existing policy holders an alternate channel for premium payment across India through OSS Retails distribution network. OSS Retail outlets database will be connected with LIC's central server to update the collection on a real-time basis using our latest technology. </p> <p>OSS Group CEO Subhash Jewria stated “We are very excited about the potential tie-up of OSS Retails and LIC which is one of the largest insurance service providers in India. It has huge customer base which holds 51% of market share in insurance industry with a strong focus on rural development and considered to be the trustworthy brand in insurance sector. We further intend to launch a bill payment portal which will allow our consumers to pay electricity bills online without the hassle of waiting in long queues. These services will be provided through our authorized travel operators, local mobile outlets and neighborhood stores.”</p> <p>Since its inception OSS group established itself as a consumer centric brand which focuses on timely deliverable and has provided a platform to entrepreneur which will help them to foster business profitability at a faster rate. </p> <p>According to LIC official “In India, most consumers prefer to shop at local stores as they provide household services on cash payment at a single window. We realized that OSS group has a vast distribution network with more than 55,000 business partners at regional level so to strengthen its local business operations have entered into an agreement which will offer our policy holders a secured platform for premium payment“ </p> <p>LIC policy holder need to provide policy details like policy number, premium Amount, name of the policyholder along with contact details at OSS Retail outlet and after verification process our authorized agent will collect premium amount in cash. </p> http://www.bimaworld.com/forums/topic/irda-circular-for-surveyors-corporate#post-410 Mon, 28 Sep 2009 10:23:16 +0000 vikash 410@http://www.bimaworld.com/forums/ <p>IRDA has in the recent past cancelled license of two surveyors who were conducting survey jobs under a corporate name but were holding individual license in their names.</p> <p>The licensing authority retrieved that one has to surrender his/her individual license and obtain license in the corporate name to function as a corporate surveyor. </p> http://www.bimaworld.com/forums/topic/public-notice-by-irda#post-276 Fri, 14 Aug 2009 19:33:06 +0000 lovkush 276@http://www.bimaworld.com/forums/ <p>IRDA has issued a circular that a Mumbai based Company namely M/s.Winner Insurance Benefits Ltd. is functioning without any license in the insurance field.</p> <p>Carrying of such business and issuance of certificates of protection for health hospitalization mutual scheme without obtaining the mandatory license or certificate of registration from the IRDA, is illegal and punishable as per The Insurance Act, 1938 </p> <p>General public is therefore, cautioned not to deal with or to purchase or subscribe to any of the said certificates of protection for health hospitalization mutual scheme from the said company or through any person claiming to be its Agent /Advisor / Representative.</p> <p>Any person doing so would be acting at his/her own risk. </p> http://www.bimaworld.com/forums/topic/non-renewal-of-tpa-licence-to-dawn-services-pvt-limited-by-irda#post-67 Mon, 08 Jun 2009 23:52:05 +0000 Anonymous 67@http://www.bimaworld.com/forums/ <p>IRDA, The licencing Auhtority had, vide its order no. 035/IRDA/ORD/TPA/FEB-09 dt. 06.02.2009, terminated the TPA licence no.001 held by M/s Dawn Services Pvt. Ltd.</p> <p>It is for the information of all concerened and the general public is hereby cautioned against dealing with the company or any person claiming to be its representative, in the capacity of a TPA. </p> <p>Anybody dealing with them will be doing so entirely at his own risk and responsibility. </p> http://www.bimaworld.com/forums/topic/qualification-requirement-4-faculty-of-agents-training-institute-ati#post-225 Sat, 04 Jul 2009 10:06:56 +0000 umeshrungta 225@http://www.bimaworld.com/forums/ <p>With regard to the qualification of faculty of Agents’ Training Institutes, IRDA has modified point no. 6 of STANDARD INSTRUCTIONS AND GUIDELINES issued on October 4, 2004 is modified as below:</p> <p>“Every Institute should have at least one qualified permanent faculty who is an Associate or Fellow from the Insurance Institute of India for each stream i.e. for Life and Non-Life. However, the training institutes can employ faculty with more than 15 years of service in the insurance company with last three years in managerial capacity i.e. Scale III Officer and above in the public sector insurance companies”.</p> <p>The above guidelines come into force with immediate effect. </p> http://www.bimaworld.com/forums/topic/declaration-of-bonus-under-section-49-of-the-insurance-act-1938#post-212 Mon, 29 Jun 2009 23:11:28 +0000 vikash 212@http://www.bimaworld.com/forums/ <p>IRDA vide its recent circulars after examining the request of the insurance companies, has allowed the life insurers in the private sector to declare bonus to policyholders where the Life fund is in deficit for a further period of three years i.e., upto the tenth year of operations commencing from the year in which the life insurance business operations are started. </p>