HDFC Life has stated that they are looking at listing in the Indian equity markets within the next two years. The insurance regulator, IRDA, is in the process of preparing the guidelines for listing for Indian life insurance companies. Chairman of HDFC, Mr Deepak Parekh, mentioned that they would also be looking to raise funds through the FDI route when the FDI ceiling on life insurance is increased from 26% to 49%.
In a separate development, HDFC Life has been ranked as the 40th best place to work for employees in a Great Places to Work Survey. At a time when there is a significant difficulty for attracting human talent to the Life Insurance industry because of the the challenges it is facing, this is indeed a positive development. However, a words of caution here for job aspirants: the team here at PolicyTiger, having been part of organisations which have ranked very well in the Great Places to Work Survey, does not feel that it counts for much!
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It happens more than you think; someone buys a life insurance policy, files it away, and no one knows of its existence. Insurance companies do not proactively contact policy holders with an “are you still alive” courtesy call. Consequently, they are among the largest holders of “unclaimed property” in the world. Some estimate that over 20% of valid death benefit claims go unpaid. Insurance policies were not meant to be secrets!
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