GENERAL2 Sept 2026
PSU insurers told to cut claim ratios, go digital
The Finance Ministry has asked public sector general insurance companies to chase profitable business and bring down claim ratios. DFS Secretary Sanjay Lohiya also told them to speed up digitalisation, use technology wisely, and trim IT spending. Insurers should boost customer outreach via social media and other platforms, especially in underserved areas, to raise awareness about insurance products.
Key Statutory Highlights
- Finance Ministry wants PSU general insurers to focus on profitable business and cut claim ratios.
- DFS Secretary directed faster digitalisation, use of technology, and optimisation of IT expenditure.
- Insurers must improve outreach via social media, especially in underserved segments and areas.
Actionable Advice for Taxpayers / Founders:If you hold a policy with a PSU general insurer, stay alert for digital service updates and review your claims process as these firms push for profitability.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: