EghtesadOnline: Pardis Insurance Company has received an operating license allowing the company to handle risks in all insurance categories.
EghtesadOnline: Hummers Life Insurance Company has received an operating license, making it the fourth specialized life insurance company in the Iranian market.
EghtesadOnline: Insurers’ delay in the settlement of dues of medical centers and drugstores has disturbed the supply chain of medicine in the country and contributed to a shortage of medicine and a rise in prices.
EghtesadOnline: According to the Competition Council, the obligation of insurance companies to use the insurance switch for their online sales, used by online brokers to access insurance sales services, is in line with the CII’s supervisory mandate.
EghtesadOnline: Insurers took in 139.3 trillion rials ($266.4 million) in premium in the first month of the current fiscal year (March 21-April 20) -- up 67.25% on the same period last year.
EghtesadOnline: Iran's insurance market reported decent growth in the last fiscal year (March 2022-23), with the total premium income reaching 1,754 trillion ($3.2 billion).
EghtesadOnline: "The low penetration rate is one [main] reason for the industry's underdevelopment…if the penetration rate does not increase, the industry's share in the economy will also lag behind leading to problems such as unhealthy competition and underselling"
One of the online systems for purchasing insurance that provides people with the conditions for an enjoyable purchase is Bimeh.com. Due to the fact that the advancement of technology has been implemented in all areas, the insurance industry will take advantage of these conditions and issue the license to establish online brokerages.
EghtesadOnline: The Central Insurance company of Iran says it is working on new options to promote and expand life insurance products.
EghtesadOnline: The Central Insurance company of Iran, the industry’s regulator, says it has prioritized licensing to fully digital insurance companies.