The IRDAI Chairman Subhash Khuntia said that the insurance broking companies are required to expand their business in smaller cities and rural areas, said IRDAI Chairman Subhash Chandra Khuntia. “In a country of our size, there are only 1,000 broking offices largely concentrated in big cities. We have to go down to smaller areas and cities where there is more business. This is a challenge, but you must be mindful of it,” said Khuntia.
“Life insurance should be a new focus area for you. The life insurance industry premium is much larger than general insurance. There are also lot of changes in life insurance,” he said. Khuntia further stated that he is hopeful that more FDI will flow into insurance intermediaries now that the government has allowed 100% FDI and the IRDAI has already issued the guidelines.
