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ICICI Prudential Life Insurance to focus on growing absolute VNB amid slump in FY24

In its Q4FY24 results, the company s VNB fell 19.45 percent to Rs 2,227 crore for FY24

Insurance Shifts A Glimpse Into 2024 - BW Businessworld

Charting the dynamic shifts in the insurance sector in the past year and anticipating transformative innovations in 2024, , life insurance

High-value insurance policies in the slow lane after tax overhaul

High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year s Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of less than Rs 5 lakh , mainly originating from smaller cities. During this year s Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.

Growth in new business for private life insurers slows down

ICICI Prudential Life Insurance leverages advanced Machine Learning models for customer benefit and better persistency

ICICI Prudential Life Insurance has deployed advanced machine learning models to ensure customers continue to reap the benefits of their life insurance policies and stay on course to achieve their long-term financial goals.