IRDAI’s Proposed Regulations May Stifle Sector Growth Without Addressing Core Challenges Key Highlights: IRDAI’s potential move to limit dependence on parent banks in bancassurance channels criticized as misdirected. Mis-selling attributed…
Streamlining Regulations to Enhance Innovation and Accessibility Key Highlights: What: IRDAI's ambitious goal to ensure universal insurance coverage by 2047. When: Announced on December 11, 2024, at the Global Economic…
The Finance Ministry has proposed major amendments to the Insurance Act, 1938, aimed at transforming the insurance industry in India. The suggested changes include increasing the Foreign Direct Investment (FDI)…
Simplified Language: A Solution for Better Customer Satisfaction Key Developments: Simplification is Key: Pushpa Girimaji, member of the IRDA's Insurance Ombudsman Advisory Committee, has emphasized the importance of using clear,…
Simplifying Policy Language to Benefit Customers and Insurers Key Highlights: Call for Clarity: Pushpa Girimaji, a member of the IRDA's Insurance Ombudsman Advisory Committee, has emphasized the need for insurance…
IRDAI to Strengthen Resources with 120 New Assistant Managers Over Three Years Key Points: The Insurance Regulatory and Development Authority of India (IRDAI) will expand its workforce by hiring 120…
Strategic Acquisition to Meet Rising Demand for Risk Consulting in the Indian Market Key Highlights: Lockton received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to acquire…
In response to evolving fraud challenges, the Insurance Regulatory and Development Authority of India (IRDAI) has released a draft of new guidelines aimed at creating a robust insurance fraud monitoring…
A Comprehensive Framework for Policyholder Rights and Transparent Claims Process The Insurance Regulatory and Development Authority of India (IRDAI) has recently released a master circular to strengthen the protection of…
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a directive urging insurance companies to integrate their IT systems with Digilocker, a secure cloud-based platform for storing and…