Ans.1.

Insurance Cos

19-Mar

20-Mar

Q1 19

Q1 20

ICICI Prudential Life Insurance

1140.65

1068.75

284.94

287.59

HDFC Standard Life Insurance

1276.79

1295.27

424.62

451.09

Max Life Insurance

49.39

272.54

171.56

-21.89

SBI Life Insurance

1326.8

1422.17

371.9

390.89
ICICI Lombard General Insurance Co

1049.26

1193.76

309.81

398.1

Ans. 2. Age and income is the decisive factor in buying insurance. So, the optimum insurance cover for
individual are :-

A) >40 years- 15 to 20 times individual's current income

B) <40 years- 10 times individual's current income.

Ans. 3. The turnaround time period of settlement of insurance claim is 24 hrs.

Ans.4. The digital transformation happened for the insurance sector due to COVID in following ways :-

a) purchasing insurance online

b) filling and submitting the documents online

c) Physical signature is replaced by digital one.

Yes, the transformation will be good as we all are moving towards digital age. And, it also provides ease
and hassle free purchasing of insurance online by customers.

Ans.5. Insurance companies are giving policies without an actual physical examination they prefer
telephonic/ video consultation done with doctor.