Jefferies sees India's proposed insurance registry cutting fraud, claims costs
BUZZ-Jefferies sees India's proposed insurance registry cutting fraud, claims costs Sept 3 (Reuters) - ** Jefferies says India's proposed Public Insurance Registry could help insurers reduce fraud and claims costs through cross-insurer data sharing
** Brokerage estimates a 1% reduction in loss ratio could add 6-14% to PAT for Indian general insurers
** Jefferies says registry could help insurance distributors better target sales and offer more targeted policies using coverage data by PIN code
** Says cross-insurer data could lower reinsurance costs and allow reinsurers to cover segments previously avoided due to limited data
** Brokerage expects implementation to be gradual and says execution will be key, given the multi-year nature of the exercise
** Jefferies prefers Star Health and SBI Life among Indian insurers
** Star Health STAU.NS, Niva Bupa NIVA.NS, SBI Life SBIL.NS shares flat; ICICI LombardICIL.NS down 0.9%
(Reporting by Aleef Jahan in Bengaluru)
Recent news on Sbi Life Insurance
See all newsExplainer: India's insurance overhaul: What changes and why it matters
PB Fintech, banks tumble as India's insurance reform plan threatens distribution income
PB Fintech's $3 billion rout leads Indian insurance sector's slump on commission-cap plan (updated)
India's insurance plan drags Policybazaar parent, lenders on distribution business hit
India Stocks: Indian shares post longest weekly losing streak in six years on oil, rate worries