MetLife India Fined For Misselling Of Insurance Policies

The Chandighar district consumer disputed redressal forum passed an order against MetLife India holding it guilty of unfair trade practice and deficiency in services. The company was held guilty for mis - selling eight insurance policies to an underage boy. The minimum age prescribed for a person to avail insurance policy is 20 years, however the company sold the above 8 insurance policies to a boy aged 19 years only.  http://www.myallagents.com/MetLife-India-Fined-For-Misselling-Of-Insurance-  Policies/details.html

Bajaj Allianz Expects General Insurance Business To Increase 5 Folds In Next 5 Years

Inspite on economic crisis, delay in increase of FDI to 49%, Bajaj Allianz, which is a joint venture between Bajaj Finserve Limited and Allianz SE, expects its company to grow at 20% in next five years. At present the company is growing at 6 - 7%. The company is planning its expansion in the rural areas of the country.

Justifying the expansion and increased growth, Mr. Tapan Singhel – Managing Director and Chief Executive Officer of the company said that business in rural area is vibrant with car sales and FMCG products are on a rise.  Rural areas will be a key factor in attaining growth of a general insurance company. In addition to the above, he added that, insurance penetration being very low in rural areas, will also throw up a huge opportunity to expand the business.

Adding to the above, he revealed that the expansion in the rural area will be driven by low cost, high service model supported with latest technology. 

http://www.myallagents.com/Bajaj-Allianz-Expects-General-Insurance-Business-To-Increase-5-Folds-In-Next-5-Years/details.html