Mahindra and Manulife Insurance JV Moves Ahead; Gets Approval from Corporate Affairs Ministry

Mahindra and Manulife announced their partnership to create a life insurance business on November 12, 2025. Today, both companies have confirmed the incorporation of the JV company as Mahindra Manulife Insurance Limited (MMIL), following approval from the Ministry of Corporate Affairs. The incorporation of MMIL marks the next step in that journey.

The venture brings together Mahindra’s strong presence in India with Manulife’s global expertise to build a simple, customer-first, AI-native and digitally led life insurer. By combining the extensive distribution reach of Mahindra with Manulife’s strengths in product innovation, underwriting, and agency-led distribution, MMIL will focus on policyholder protection and offer holistic, need-based financial solutions.

MMIL aims to address India’s large protection gap through a range of long-term savings and protection products, with a strong focus on rural and semi-urban markets while building leadership in protection solutions for urban customers. The partnership combines Mahindra’s wide distribution reach with Manulife’s strengths in product innovation, underwriting, and agency-led distribution. Together, the partners are committed to establishing MMIL as a trusted, digital, technology-driven and AI-native insurer aligned with India’s long-term growth and the vision of “Insurance for All.”

Mphasis Announces Strategic Partnership with Sixfold to Strengthen Insurance Underwriting Capabilities

Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced a strategic partnership with Sixfold, the US and UK-based AI underwriting company redefining how insurers assess risk.

As an implementation partner, Mphasis will integrate Sixfold’s AI platform to help insurers accelerate their underwriting process—speeding up submission intake and equipping underwriters with the contextual risk insights they need to make faster, more confident decisions. Designed for Life & Disability, Commercial P&C & Specialty, and Reinsurance, Sixfold reduces review times by more than half and increases Gross Written Premium (GWP) per underwriter by enabling smarter, faster risk selection —without sacrificing accuracy.

Through this partnership, Mphasis aims to help streamline underwriting processes, enhance operational efficiency and drive intelligent decision-making using Sixfold’s advanced AI solutions. Already in production at market-leading carriers, Sixfold’s platform integrates seamlessly into existing workflows and quickly adapts to each insurer’s unique risk appetite—delivering tailored recommendations that align with the insurer’s underwriting guidelines.

“Mphasis is excited to partner with Sixfold to accelerate AI adoption in the insurance industry. By leveraging Sixfold’s AI expertise in combination with expertise from Mphasis.ai and our insurance technology capabilities, we are able to deliver advanced, data-driven automation solutions for global insurers, driving efficiency, accuracy, and innovation across the insurance value chain,” said Srikumar Ramanathan, Chief Solutions Officer, Mphasis.

“Sixfold was built to solve real problems for underwriters—and to make the entire process better for brokers and customers,” said Alex Schmelkin, Founder & CEO of Sixfold. “That means making implementation simple and fast. Mphasis has a great track record of getting technology live inside real-world insurance workflows. With them, insurers can move quickly, see impact fast, and do it all without adding extra work to their teams. That’s a win for everyone involved.”

This partnership marks a significant step in the evolution of insurance underwriting, allowing insurers to navigate the future of risk assessments with greater speed and accuracy.

7 Factors That Impact Your Bike Insurance Premium

The cost of motorbike insurance is influenced by several different factors. The insurance provider takes into account a number of variables in order to estimate risk when determining the cost of your bike insurance policy. The factors that affect the premium must therefore be known in order to comprehend why your insurance policy charges the price it does.

You agree to pay an annual premium for coverage against the possibility of damage or loss when you acquire two-wheeler insurance. But how is the bike insurance premium calculated? Does it change depending on the model or how experienced you are as a rider? Let's learn more about the factors that influence two-wheeler insurance rates in this article.

1) Bike's make and model: Generally, the more expensive the bike, the higher the bike insurance premium. This is because repairing or replacing a costly bike would be more expensive for the insurance company.

2) Cubic capacity (CC): The cubic capacity (CC) of a bike refers to the displacement of the engine, which is a measure of the total volume swept by all the pistons inside the cylinders. The CC of a bike can have an impact on its insurance premium. Here's how CC can affect bike insurance:

• Higher CC, higher premium: Generally, bikes with higher CC have higher insurance premiums. This is because bikes with larger engines tend to have more power and can potentially cause or be involved in more severe accidents, leading to higher repair costs or higher chances of third-party liability claims.
• Engine capacity brackets: Insurance companies often classify bikes into different engine capacity brackets (e.g., up to 150cc, 150-300cc, 300-500cc, etc.). The premium rates for each bracket may vary based on historical claim data and risk analysis. Bikes in higher CC brackets usually have higher premiums compared to lower CC brackets.
• Increased risk perception: Insurance companies consider higher CC bikes to be associated with higher risks due to factors like higher speeds, increased likelihood of accidents, and potential for more significant damage. This perception of increased risk leads to higher insurance premiums. 

3) Age of the bike: The age of a bike can have an impact on its insurance premium. Here's how the age of a bike can affect the insurance premium:

• Depreciation: As a bike ages, it undergoes depreciation, which reduces its market value. Insurance companies take into account the age and market value of the bike when determining the premium. Older bikes generally have lower premiums compared to newer ones because their market value is lower.
• Repair and replacement costs: Older bikes may have higher maintenance and repair costs due to wear and tear, availability of spare parts, and technological advancements. Insurance companies consider these factors when calculating the premium. In some cases, the cost of repairing or replacing parts for older bikes may be higher, resulting in slightly higher premiums.
• Condition and usage: The condition and usage of the bike also play a role in determining the premium. If an older bike is well-maintained, has low mileage, and is used responsibly, it may result in a lower premium. However, if the bike has been poorly maintained, has high mileage, or is used for riskier activities, the premium may be higher.

4) Insured Declared Value (IDV): Insured Declared Value (IDV) of a bike can have an impact on its insurance premium. Here's how IDV affects the bike insurance premium:

• Basis for coverage: The IDV represents the maximum amount that an insurance company will pay in case of a total loss or theft of the bike. It is calculated as the market value of the bike minus the depreciation based on its age. The insurance premium is usually calculated as a percentage of the IDV.
• Higher IDV, higher premium: Generally, bikes with a higher IDV will have higher insurance premiums. This is because a higher IDV indicates a higher value of the bike, which means the insurance company would need to pay a larger amount in case of a claim.
• Higher IDV, higher premium: Generally, bikes with a higher IDV will have higher insurance premiums. This is because a higher IDV indicates a higher value of the bike, which means the insurance company would need to pay a larger amount in case of a claim.
• Customization and accessories: If you have added accessories or made customizations to your bike, the IDV may include the value of these additions. This can increase the IDV and subsequently impact the premium.
• Balance between IDV and premium: It's important to strike a balance between the IDV and the premium. While a higher IDV may provide better coverage in case of a total loss, it will also result in a higher premium. It's recommended to assess the value of your bike and choose an IDV that reflects its current market worth while considering your budget for the premium.

5) Location: Insurance companies consider the risk associated with the location where the bike is primarily used and parked. Factors such as crime rate, traffic density, accident frequency, and the likelihood of theft or vandalism in the area can influence the premium. Areas with higher risks may result in higher premiums.

The geographical location can also play a role in determining the insurance premium. Areas prone to natural disasters or extreme weather conditions may have higher own damage bike insurance premiums due to the increased risk of damage to the bike.

Urban areas generally have higher traffic density, a greater chance of accidents, and a higher risk of theft or vandalism. Consequently, insurance premiums tend to be higher in urban areas compared to rural areas where the risks may be lower.

6) No claim bonus(NCB): NCB is a reward given by insurance companies to policyholders who have not made any claims during the policy term. It is provided in the form of a discount on the premium at the time of policy renewal. The discount percentage increases for every claim-free year, typically up to a maximum of 50%. The NCB discount can result in a considerable reduction in the premium amount. For instance, if you have accumulated a 50% NCB, it means you will only pay 50% of the base premium amount after applying the discount.

Conclusion: It is important to remember that you can lower your insurance premiums even though the above mentioned factors may have an impact on the price of your bike insurance policy. For instance, you can install anti-theft devices, refrain from filing claims unless absolutely necessary, and only purchase the absolutely necessary add-on riders.

You can take into account aspects unique to you and your driving style based on the mentioned factors. Aim for the most suitable bike insurance possible. In terms of coverage, the cheapest insurance plan might not be the greatest. Your insurance coverage should fulfil its objective and protect you in an emergency.

Also Read: Your Go-to Guide to Find the Right Health Insurance Policy