Page 2 - Irdai

Irdai sets up working group to guide AI adoption in insurance sector

The working group will guide insurers on AI adoption, governance and oversight while ensuring policyholder interests and data protection remain safeguarded

Irdai proposes framework for regulation-making, public consultations

Draft norms seek to formalise stakeholder engagement, consultation processes and periodic review of insurance regulations

Irdai proposes changes in investment rules for insurance companies

Insurance regulator proposes amendments covering mergers, promoter definitions and shareholding norms while reducing transaction fees to improve ease of doing business

Govt appoints Dinesh Pant and Girija Subramanian as Irdai members

The Appointments Committee of the Cabinet has approved the appointment of LIC's Dinesh Pant and New India Assurance's Girija Subramanian as members of Irdai

Datanomics: Insurance plaints double in six years driven by health

Health insurance is driving a surge in insurance complaints, with grievance filings rising sharply despite the segment accounting for a relatively small share of premiums

Insurers wary as Irdai tightens executive compensation framework

Irdai's revised compensation norms linking executive pay to customer outcomes and compliance metrics have sparked concerns over growing regulatory intervention

Irdai asks insurers to link performance pay with customer service metrics

The insurance regulator has revised remuneration norms for senior executives, mandating stronger focus on claims settlement, grievance redressal and policyholder outcomes

Linking CEO pay to customer happiness: Benefits and risks for Indian firms

Irdai's recommendation on linking CEO remuneration to customer grievances offers a larger lesson on rewards, governance and what companies choose to optimise

Irdai withholds variable pay of some insurers' CEOs over expense targets

Regulator's action follows unmet 'expense of management' targets

ICICI Bank to retain majority stake in ICICI Prudential Life Insurance

ICICI Bank reaffirmed its long-term commitment to ICICI Prudential Life Insurance after Prudential plc announced plans to reduce its stake below 10 per cent

Irdai to frame Sabka Bima, Sabki Raksha Act norms within six months

Irdai said fresh regulations and amendments to existing insurance norms will be completed within six months of implementing the amended insurance law framework

Regulators, officials keep close watch on heightened geopolitical frictions

Says, it will keep a close watch on the emerging situation

High commissions a key concern, need attention: Irdai chairman Ajay Seth

Insurance regulator says rising commissions and weak profitability are undermining policyholder value and sector resilience

RBI, Irdai not inclined to allow investments in commodity derivatives: Sebi

Sebi chairman Tuhin Kanta Pandey said banking and insurance regulators have valid concerns, while the market regulator plans an advisory on risks from AI-led models like Mythos

RBI, Irdai not inclined to allow commodity derivative investments: Sebi

Sebi Chairman stated that pension fund regulator had also looked at allowing pension funds to invest in commodity derivatives, but ​did not disclose whether it had made a decision

Insurance for All by 2047: What India needs to fix to meet the goal

Irdai's 'Insurance for All by 2047' vision aims universal coverage, but falling penetration, rural access gaps and affordability challenges raise questions over achieving the target

Regulations should minimise non-compliance, boost activity: Irdai chief

Irdai Chairman Ajay Seth advocates smart regulation and deregulation to balance compliance with growth and strengthen economic activity in India

A first: Life insurers collected ₹4 trn in new business premium in FY26

Industry sees strongest growth since FY23 as new business premium crosses Rs 4 trillion, driven by GST cut, product launches and recovery after regulatory changes

Irdai seeks detailed data on distributor commission of life insurers

Insurance companies have shared the data on distributor commissions with Irdai as the regulator reviews distribution models amid concerns over high costs but are yet to get a response

Buying insurance online? IRDAI takes big action on hidden tricks: Why it matters

India’s insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), has directed insurers and aggregators to eliminate “dark patterns” from digital platforms,