Big contribution of insurance sector in the progress of the country: Tapan Singhal

So far 16 crore claims have been settled in the disaster affected area of ​​Kullu.

Efforts are being made to reduce GST on life and health insurance premiums

The Voice of Chandigarh :

Insurance sector plays a major role in the progress of any country, says Tapan Singhal, MD & CEO, Bajaj Allianz General Insurance.

Addressing a press conference in Chandigarh, he said that every year 10 crore people go below the poverty line in the country just because of lack of health insurance. When someone gets a serious illness, due to lack of health insurance, they have to sell their house, ornaments etc.

If health insurance is taken, then the insurance company proves to be helpful in this difficult time. He said that similarly, where farmers have taken crop insurance, there are no cases of farmers’ suicides. Tapan Singhal, who is also the Chairman of the General Insurance Council as well as the Insurance and Pension Committee of CII, has over 30 years of experience in the insurance sector.

He informed that Bajaj Allianz General Insurance has started giving compensation to the people who were affected due to natural calamity in Kullu in Himachal and Ambala in Haryana. So far, claims worth about Rs 16 crore have been paid in Kullu itself.

Tapan Singhal said that efforts are being made to reduce GST on life and health insurance premium. At present it is 18 per cent, which has been demanded before the GST Council to reduce it to 12 or 5 per cent.

Vikramjeet Singh Bhyana, Head, Marketing (India), Bajaj Allianz General Insurance was also present on the occasion.