More Stories

Informist, Wednesday, Apr. 29, 2026

NEW DELHI – Department of Financial Services Secretary M. Nagaraju on Wednesday urged public sector non-life insurers to develop new and innovative customised products to meet the requirements of the younger generation and to provide coverage for emerging risks. In a meeting with four public sector non-life insurers, Nagaraju also prompted them to adopt technology and move towards full digitalisation of the process.

The meeting was attended by Department of Financial Services Special Secretary Sanjay Lohiya, Department of Financial Services Additional Secretary Debasish Prusty, New India Assurance Co. Ltd. Chairman and Managing Director Girija Subramanian, National Insurance Co. Ltd. Chairman and Managing Director Rajeshwari Singh Muni, United India Insurance Co. Ltd. Chairman and Managing Director Bhupesh Sushil Rahul and Agriculture Insurance Co. of India Ltd. Chairman and Managing Director Lavanya R. Mundayur, along with other senior officers.

The meeting focused on the expansion of digital and technological capabilities while adhering to the prescribed cybersecurity framework. Deliberations also happened on the expansion of insurance services through online platforms as well as on timely resolution of public grievances and to ensure seamless and prompt claims processing, in order to provide efficient services to customers, a finance ministry release said.

Nagaraju also urged insurers to expand their distribution networks to procure business from underserved locations and segments by enhancing communication, publicity and outreach through various platforms, including social media, the release said. He also asked insurers to focus on increasing investment opportunities and devise strategies to reduce loss ratios, while maintaining market share and consistently strengthening their retail portfolios and presence across rural and semi-urban areas.  End

Reported by Sagar Sen

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.