Tim Thomas

The much awaited decision on the GST exemption on health insurance premiums is finally out! In a nation, where a large section of population does not have any health insurance or is underinsured, this move is expected to encourage the individuals to prioritise health insurance as a necessary financial protection tool. Aligned with the broader ambition of the regulator of 'Insurance for All by 2047,' this reflects positive intent of the Government to make health insurance affordable and accessible for every Indian. Although it is anticipated that reduction of the tax element will translate into lower premiums, the actual benefit can only be assessed after clarity on the input tax credit, which we will come to know over the coming days. https://lnkd.in/gcQGXVDB #GeneralInsurance #HealthInsurance #GSTExemption

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Bharatsure, an Insurtech startup offering Infrastructure as a Service (IaaS) solutions, has raised Rs 6 crore in funding from Gurugram-based Inflection Point Ventures (IPV) and other investors, including Capital A and Atrium Angels. The startup's Infrastructure-as-a-Service (IaaS) platform enables organizations, ranging from SMEs to large institutions, to offer modular insurance solutions that are scalable, and easy to deploy. Read the full story here:👇 https://lnkd.in/dshK68DB #insurtech #funding #investors #investment #iaas #startup #indianstartupnews

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The reinsurance market in India is ready for a change. India's reinsurance market is worth more than ₹50,000 crore, but there isn't a lot of competition. GIC Re has more than half of the market share, while foreign companies like Munich Re and Swiss Re have branches and send most of their profits abroad. Valueattics Re is the only new company to enter the domestic market so far. There is now a move that will change the game. Allianz Group and Jio Financial Services (JFS) have announced a 50:50 joint venture to make India's second fully domestic reinsurer. If they get the green light, they want a composite licence that covers both life and general reinsurance. Why is this so big? Reinsurance is insurance for insurance companies. It protects them from significant risks, such as floods and pandemics. Customers will experience greater stability, lower premiums, and faster claims processing if there is a stronger domestic reinsurance base. It also keeps more money and expertise in India, which means less need for foreign capital. The time is right. India's reinsurance premiums are likely to almost double to ₹99,000 crore by FY26, while general insurance grows by 10% every year. Competition could finally give GIC Re a run for its money and make India's economy stronger. The JV still needs to be approved. But if it works out, this could be the start of a new era, with stronger domestic companies, more foreign experts, and better results for policyholders. Follow Chakrivardhan Kuppala for more insights. (Disclaimer: This post is for educational purposes only and not financial advice. Always do your own research before investing.) #Reinsurance #InsuranceIndustry #FinancialServices #IndiaGrowthStory #AllianzJioJV

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