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Irdai invites applications for innovative ideas under regulatory sandbox

Irdai said it has created a regulatory sandbox with the objective of using new and innovative ideas with a view to accelerate the growth of the sector

insurance, health, coronavirus, drugs, pharma, medicine

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A similar invitation last year had evoked responses from a large number of companies, including insurers.

2 min read Last Updated : Aug 27 2020 | 7:43 PM IST

Irdai has invited applications for fostering the growth of insurance sector through innovative ideas under its 'regulatory sandbox approach', wherein products and services are tested live in a controlled regulatory environment.

The 'regulatory sandbox approach' can be used to carve out a safe and conducive environment to experiment with innovative approaches (including fintech solutions), and where the consequences of failure, if any, can be contained, Irdai said.

The Insurance Regulatory and Development Authority of India (Irdai) said it has created a regulatory sandbox with the objective of using new and innovative ideas with a view to accelerate the growth of

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