 "A regulatory sandbox a win-win for all stakeholders, says Irdai")
A regulatory sandbox will help companies manage risk during the testing phase, which will enable more innovative ideas to be tested in the market, said the insurance regulator on Friday.
If such an idea becomes successful, it will be introduced in the market, said Sujay Banarji, member (distribution) at the Insurance Regulatory and Development Authority of India (Irdai).
Earlier, because of regulatory uncertainty, some innovations were abandoned at an early stage and never got tested in the market.
In the insurance sector, there is a need to maintain a healthy balance between growth in the industry and protecting the customers and providing enough
