IRDAI chairman Debasish Panda met CEOs of SOME general insurers, including health insurers, in Mumbai last week to review the performance of the industry and seek ideas from the industry leaders to improve insurance penetration in the country.
Like earlier meetings, titled ‘Bima Manthan’ where Panda had met CEOs of the entire industry, with elaborate agenda, there was no pre-set agenda for the meeting and select CEOs of general insurance industry, mostly Mumbai based, were invited for it.
“This meeting was for general update and to review general industry performance in terms of growth, loss ratio, claim settlement ratios, initiatives taken by the IRDAI in the last few months and as an industry what else can be done to improve penetration and market growth,” said the CEO of a company who had attended the meeting.
The discussion had focused on penetration and what all is required from the regulator to push reforms in the industry, said the CEO of another company. “Emphasis was on how we can provide more products and distribution reach,” he said.
