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 Q .
Which Insurance Company Ltd has launched 'Smart Secure Easy Solution'?
A)
HDFC Life Insurance
B)
Tata AIA Life Insurance
C)
Max Life Insurance
D)
Bharti AXA General Insurance

Correct Answer : Option (C) - Max Life Insurance

Note :

Max Life Insurance Company Ltd. (“Max Life” / “Company”), has launched Max Life Smart Secure Easy Solution, a comprehensive three-in-one protection solution  offering benefits of life, critical illness & disability and accidental cover.
 
Aimed primarily toward self-employed individuals, the solution is available for multiple customer cohorts including salaried and other professionals to comprehensively guard against life’s uncertainties.
 
The solution is a combination of Max Life’s Smart Secure Plus Plan (UIN: 104N118V04) that aims at providing financial protection in case of any uncertainties in life with an accidental cover option and Max Life Critical Illness and Disability Health Rider (UIN: 104B033V01), which offers an added layer of financial protection in case of critical illnesses, total and permanent disability and provides extra coverage against death due to accident1..

Source : The Print

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 Q .
Who launched a new scheme to provide enhanced export credit risk insurance cover to the extent of 90%?
A)
LIC
B)
CSL
C)
HSCC
D)
ECGC

Correct Answer : Option (D) - ECGC

Note :

Export Credit Guarantee Corporation of India (ECGC) has launched a new scheme to provide enhanced export credit risk insurance cover to the extent of 90%.

Aim : To support small exporters under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment (ECIB- WTPC & PS).

This scheme will benefit small-scale exporters availing of export credit with banks which hold the ECGC WT-ECIB covers..

Source : PIB

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 Q .
Which Insurance company has announced the launch of its add-on motor insurance cover, called 'Pay As You Consume'(PAYC)?
A)
Acko General Insurance
B)
Bharti AXA General Insurance
C)
IFFCO Tokio General Insurance
D)
Bajaj Allianz General Insurance

Correct Answer : Option (D) - Bajaj Allianz General Insurance

Note :

Bajaj Allianz General Insurance 21st July 2022 announced the launch of its add-on motor insurance cover, called ‘Pay As You Consume’ (PAYC). The company claims to be the first to launch ‘Pay As You Consume’ under the IRDAI’s Sandbox Regulations, and owing to the overwhelming response from customers, it has launched this as a full-fledged cover under motor insurance products. This usage-based motor insurance add-on cover is in alignment with IRDAI’s recent circular to allow PAYC under annual motor products.
 
It is a usage-based motor insurance add-on cover, can be opted by the customer along with the basic Own Damage (OD plan) under Package Product, Bundled and Standalone OD cover.
 
Customers can choose coverage based on their vehicle usage, further to which the premium will be calculated, i.e., kilometres driven annually.
 
Customers’ driving behaviour will be analysed based on a telematics device installed in the vehicle, driving metrics recorded on their “CARINGLY YOURS” mobile app (Company’s app), or information provided by them through a device, etc.

Source : Financial Express

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 Q .
Who has launched an add-on feature for motor insurance Own Damage policies, named 'Pay as you Drive'?
A)
ICICI Lombard
B)
Go Digit General Insurance
C)
Reliance General Insurance
D)
Star Health and Allied Insurance

Correct Answer : Option (B) - Go Digit General Insurance

Note :

* Go Digit General Insurance has launched an add-on feature for motor insurance Own Damage policies, named ‘Pay as you Drive’.

* Customers who drive less than 10,000 Km per year on an average, will now pay less with this add-on.

* Digit will use odometer reading, telematics data and annual kilometer opted to give this discount (up to 25%).

* IRDAI has also permitted to the general insurance companies to introduce such tech-enabled concepts in motor OD policies. 

Source : Mint

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 Q .
Which Insurance company announced(11th july 2022) partnership with 'City Union Bank' for life and health Insurance?
A)
Tata AIA Life Insurance
B)
Max Life Insurance
C)
Reliance Nippon Life Insurance
D)
Star Health and Allied Insurance

Correct Answer : Option (A) - Tata AIA Life Insurance

Note :

One of India’s leading life insurance companies, Tata AIA Life Insurance Co. Ltd, 11th July 2022 announced a strategic alliance with City Union Bank (CUB) to offer life and health insurance solutions to the Bank’s consumers.
 
This partnership brings together two respected consumer centric brands that have been a part of India’s consumer landscape for more than a century. This partnership will help City Union Bank consumers (existing and new) to benefit from Tata AIA Life’s diverse and innovative products and services spanning term insurance, savings and investment, retirement, and health.
 
It will enable Tata AIA Life to expand its distribution through CUB’s 700+ branches and contribute significantly towards increasing life insurance penetration in the country. Another point of synergy between the two entities is their focus on providing a digitally enabled experience and mobile first solutions to consumers..

Source : The print

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 Q .
Which Insurance company has launched the "Cyber VaultEdge insurance plan" for individuals?
A)
National Insurance Company
B)
United India Insurance
C)
SBI General Insurance
D)
Reliance General Insurance

Correct Answer : Option (C) - SBI General Insurance

Note :

SBI General Insurance has launched the Cyber VaultEdge insurance plan, a comprehensive cyber insurance cover for individuals that provides protection against financial losses arising from cyber risks and attacks, said the firm in its statement.
 
The pandemic has led to a significant increase in adoption of digital infrastructure across services. Individuals were forced to adopt work from home model (WFH) and various digital methods of operating for most services, including payments. 
 
While this is a welcome development, in terms of rise of widespread digitisation and internet penetration, threats of cyber-attacks are on the rise. According to CERT-In, cyber security incidents jumped to ₹14.02 lakh in 2021 from ₹2.08 lakh in 2018, meanwhile, the losses due to cybercrime, ATM/debit card, credit card and internet banking fraud were estimated at Rs. 63.4 crore in 2020-21, as per data published by private and public banks...

Source : Mint


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 Q .
Who is signs pact with Paschim Banga Gramin Bank for bancassurance in 30th June 2022?
A)
HDFC Life Insurance
B)
Exide Life Insurance
C)
SBI Life Insurance
D)
Tata AIA Life Insurance

Correct Answer : Option (C) - SBI Life Insurance

Note :

The Paschim Banga Gramin Bank has joined hands with SBI Life Insurance for a bancassurance pact, officials said on Thursday(30th June 2022). The partnership will see all the branches of Paschim Banga Gramin Bank across West Bengal offer SBI Life's range of protection, wealth creation, credit life, annuity and savings products,thereby increasing accessibility of life insurance solutions in the region, they said.
 
The agreement was signed by Arun Kumar Patra, General Manager of Paschim Banga Gramin Bank and Jayant Pandey, Regional Director of SBI Life.
 
Bancassurance is an arrangement between a bank and an insurance company, as a part of which the latter can sell its products to the lender's customers..

Source : India Times

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 Q .
Who is partnered with Avanse Financial for student travel insurance, a statement said on 29th June 2022?
A)
Angel One
B)
IDBI Capital
C)
TATA AIG
D)
Edelweiss

Correct Answer : Option (D) - Edelweiss

Note :

* Edelweiss General Insurance(EGI) has joined hands with NBFC, Avanse Financial Services to provide travel insurance to Indian students.

* It offers complete coverage against medical, stay, travel inconvenience-related covers, emergencies and losses.

* The students can also customize their plan per their needs and requirements from universities.

* According to the Industry reports, the number of Indian students going abroad for higher studies is expected to touch 18 lakh by 2024.

Source : Money Control

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 Q .
Which Insurance Company Ltd has launched a smart solution, 'Insta confirmation of insurance (Insta-COI)+'?
A)
Tata AIA Life Insurance company
B)
Max Life Insurance Company Ltd
C)
HDFC Life Insurance Company Ltd
D)
Life Insurance Corporation of India

Correct Answer : Option (B) - Max Life Insurance Company Ltd

Note :

Max Life Insurance Company Ltd has launched(29th June 2022) a smart solution, 'Insta confirmation of insurance (Insta-COI)+', to customers buying the ‘Max Life Smart Fixed-return Digital Plan’.

This is a non-linked, non-participating, individual life insurance savings plan on Max Life website or Policybazaar platform.

It enables intimation to the customer regarding the commencement of the risk cover pending release of the policy contract ensuring a quick and hassle-free onboarding.

Source : ANI

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 Q .
Who launched the comprehensive health insurance product 'Global Health Care' in June 2022?
A)
Bajaj Allianz General Insurance
B)
Star Health and Allied Insurance
C)
ICICI Prudential Life Insurance
D)
Bharti AXA General Insurance Company Limited

Correct Answer : Option (A) - Bajaj Allianz General Insurance

Note :

* Bajaj Allianz General Insurance has launched ‘Global Health Care’, a comprehensive health insurance product.

* It covers planned as well as emergency treatment.

* It also provides health care Internationally (outside of India) and domestically (within India).

* Sum Insured : Rs 37,50,000 to Rs 3,75,00,000

* The product is available in two plans, namely ‘Imperial Plan’ and ‘Imperial Plus Plan'.

* For Overseas Citizen of India, the minimum period to stay outside is 180 days..

Source : Financial Express

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