- Rs. 5 Lakh Coverage @ Rs. 10/Day*
*Standard T&C Apply
- 7 Lakh+ Happy Customers
- 10,000+Hospitals for Cashless Treatment
IRDA Norms for Brokers are to Change Soon
- DetailsWritten by PolicyBazaar -
- Hits : 2050 -
Updated date : 05 February 2018
The Insurance Regulatory and Development Authority (IRDA) of India is all set to update its regulations for insurance brokers, keeping an eye on the steadily increasing demand for insurance broker license across the Industry. At present, there are 428 insurance brokers in India.
This growing demand for broker license across the insurance industry is because of the increasing adoption of technology-driven approach and digitization of the whole process, which essentially is for the consumers.
IRDA has already sent a copy of the new broker regulations and the Gazette notification will be out very soon, and of course, with the required changes implemented. The changes are to help governing the brokers as well as to maximize the number of insurance holders.
“Digital push is required. Lead the industry with cutting-edge technology, develop apps and reach out to more customers,” said IRDA Chairman. Insurance brokers are advised to make claim settlement even more transparent through the technology-driven approach. At the same time, insurance penetration across India needs to be improved. Currently, it is below 4% for Life Insurance and General Insurance is even lesser.
- Most Read
- Are You Buying General Insurance for the First Time? Check Out This Guide
Date: 15 June 2020
- Why do Customers Prefer to Buy General Insurance Policies Online?
Date: 21 May 2020
- New-Age General Insurance Drives the Sphere of Transformation in India
Date: 21 May 2020
- Impact of Coronavirus on Life and Health Insurance Sector
Date: 20 May 2020
- Importance of General Insurance Amidst COVID-19
Date: 07 April 2020
- National Insurance Policy Renewal and Online Payment Process
Views : 38371
- How to Download Tata AIG Policy?
Views : 20889
- Top General Insurance Companies with Best Claim Settlement Rate
Views : 11427
- How to Check New India Assurance Company Claim Status?
Views : 10388
- 7 Common Questions and Answers about General Insurance
Views : 10387
- Income Tax Calculator
- Other Calculators
- Pension Calculator
- Savings Calculator
- Save Regularly
- Actual Savings
- Health Insurance Premium Calculator
- Car Insurance Calculator
- Bike Insurance Calculator
- SIP Calculator
- Life Insurance Calculator
- Term Insurance Calculator
- ULIP Calculator
- Premium Calculator
- FD Calculator
- Investment Calculator
- Travel Insurance Calculator