| Oriental Insurance Targets 10% Premium Income Growth
Oriental Insurance has set a target to close the current fiscal with a premium income of INR44 billion, an increase of 8% compared to last year. The insurer is planning to commence selling policies online – reported Business Standard. The general insurer has appointed a consulting firm to study whether it should continue with third party for its mediclaim policies or not, quoted the magazine. M Ramadoss, managing director of Oriental Insurance, stated that the company had generated a premium of INR40.7 billion last year, and set a target of INR44 billion for the current fiscal. During the first quarter, the company has reported a 10% growth in the premium income, which stood at INR13 billion. On August 15, the company is likely to launch a core insurance solution through which customers can buy policies such as overseas travel cover, health, personal accident, motor and house holders policies.
Petri holds last health care meeting
Many called for more information, concerned lawmakers will push the bill forward and overhaul the insurance system without enough input. "I'm 85 years old and pretty soon they'll say I'm not worth getting the care, they should put a younger more productive person in there," Glen Steffens of Endeavor said. Most agree there are problems with the current system, but the room was divided on the fix. "I'm wondering if there's any couple here who pays more than $850 a month for insurance?" Mara Meronek asked. Many answered in chorus shouting out, "more." Some called for a public insurance option to increase competition among insurers. While others worry the move would decrease the quality of care. "Some people say stop don't do it, go away," Rep.
Back-To-School Preparation Includes Health Insurance
With summer vacation coming to an end and Kentucky children headed back to school, it's a good time to make sure health insurance is part of your child's preparation for the new school year. Kentucky Children's Health Insurance Program (KCHIP) representatives have been visiting schools to spread the word about KCHIP, and back-to-school promotional materials, including bookmarks for students, are being distributed through Family Resource and Youth Services Centers (FRYSCs) in schools. A statewide radio campaign, in addition to other promotional efforts, reminds parents to make sure their children have health insurance. “This month is a good time for parents to think about making sure their children have the tools they need to learn and succeed in the classroom, and nothing is more important than health care," said Gov.
Dan Guilbert chief actuary at Hartford Life
Guilbert, a senior vice president, will be in charge of designing and pricing Hartford Life's insurance products and oversee investment-liaison functions. Guilbert, who previously served as chief risk officer for Hartford Life, succeeds Jim Trimble, who is retiring after 31 years. Guilbert will report to John Walters, president and chief operating officer of Hartford Life. Guilbert also joins Hartford Life's senior management committee. Guilbert earned a bachelor's degree in applied actuarial science from Bryant College, is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries. The Hartford's life insurance subsidiaries include Hartford Life Insurance Co., Hartford Life & Annuity Insurance Co., and Hartford Life & Accident Insurance Co.
Seeking to Boost Agency Business, Progressive Offers Web Site Help
Progressive Insurance wants to ramp up its agency business and plans to turn to a source of strength for its direct sales channel - the Internet - to help make that happen. As Glenn M. Renwick, president and chief executive officer at Progressive, said in a conference call with investors on Aug. 12: "Regardless of how you choose to buy, we are all aware ... that the vast majority of people start their insurance shopping experience on the Internet." That sentiment - and the fact that more than half of its independent agents don't have Web sites - has led the company to roll out an initiative to provide Progressive agents who don't have Web sites or are unhappy with their existing sites the opportunity to create or improve their online presence at a discounted price.
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