As The Insurance Times proudly enters its 45th year, we reflect on the journey that has made this publication an enduring voice of the Indian insurance industry. Over the decades, we have been privileged to witness and document the remarkable evolution of this dynamic sector. As part of our commitment to continuous growth and adaptation, we are excited to announce a comprehensive revamp of our content starting this month. This new direction aims to provide broader and deeper coverage of key developments, innovations, and challenges shaping the industry. We also invite feedback and suggestions from our valued readers to make this transformation more impactful.
The Finance Ministry’s proposal to raise foreign direct investment (FDI) in insurance to 100% and introduce composite licenses marks a bold step toward liberalization and global competitiveness. These measures, if enacted, could attract new players and much-needed capital, enabling the sector to serve a wider population effectively.
Meanwhile, IRDAI has reinforced its call for more insurers to enter the market, emphasizing the need to cater to India’s vast and underserved population of 1.4 billion. The regulator’s initiatives, including streamlined entry procedures and roadshows to attract international investment, signal a future-oriented approach.
However, challenges persist. Concerns about high commissions in motor insurance and mis-selling in bancassurance have drawn regulatory attention. IRDAI’s emphasis on transparency and fairness through platforms like Bima Sugam and principle-based sandbox regulations reflects its proactive stance.
Our journal was the media partner in 20th edition of the International Conference on Inclusive Insurance (ICII) which witnessed participation from 44 countries. We are covering the abridged report in the current edition and detailed report in our digital edition as well as our portal www.bimabazaar.com
We have also covered the proceedings of the Insurtech Conference that took place in Mumbai in November 2024. The conference saw the participation of more than 800 delegates from the industry.
