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Articles

How customer experience in India’s private insurance sector has evolved over the past 25 years

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By ICICI Lombard, By- Girish Sehgal
| Techstreet Now
24 minutes ago expresscomputer.in By- Girish Sehgal, Head – Customer Experience, Support & Operations, ICICI Lombard Over the last 25 years, the customer experience in India’s private insurance business has transformed considerably from opaque, intermediary-driven interactions to increasingly transparent, technology-enabled experiences.
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Insurers to charge 18% GST on agents’ commission, Input Tax Credit issue

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By Aditya Birla, ICICI Lombard
| smallnews.in
The Indian government’s decision to reduce the Goods and Services Tax (GST) on health insurance premiums from 18% to 0% has had an unintended consequence on the insurance industry. Insurers are now imposing an 18% GST on commissions paid to agents and distributors to offset losses from the withdrawal of input tax credit (ITC). This move has come as a major blow to insurance intermediaries across the country.
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Bombay High Court’s stay brings GST relief to over a dozen insurers

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By Aditya Birla, ICICI Lombard
| smallnews.in
The Bombay High Court has granted a temporary stay on a substantial demand and associated penalties by the Goods and Services Tax (GST) authorities, providing relief to over a dozen insurance companies. The insurance companies, including Aditya Birla Health Insurance, Oriental Insurance, and ICICI Lombard General Insurance, among others, had approached the court challenging the demand raised by the GST authorities, which totaled over Rs 10,000 crore.
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