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Policy● Neutral for Indian equities
Will your insurance premium get cheaper? Here’s what IRDAI’s proposed reforms could change
The brief
- Proposed IRDAI distribution reforms could lower insurers’ operating and distribution costs, putting downward pressure on premiums
- Lower premiums could pressure revenue for listed insurers, while reduced distribution costs may offset the impact
- IRDAI’s proposed distribution reforms can drive a mutual fund-like transformation in insurance, as SEBI did in 2009, says Kamesh Goyal, Go Digit chairman
- Cashless health insurance claims: What policyholders can do when hospitals and insurers clash over bills, approvals, and deductions
- Insurance mis-selling is arising because upfront commissions are too high: IRDAI chairman Ajay Seth
- After GST exemption, retail policy base rises 11% for Star Health
- Companies offering healthcare benefits see 13% drop in chronic claims, says report
IRDAI's proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. The proposals prompted debate over premiums, mis-selling and distributor payouts, while reports highlighted possible earnings risks for PB Fintech.
Monday, 28 September
Sunday, 27 September
- Will your insurance premium get cheaper? Here’s what IRDAI’s proposed reforms could change