1 / 1

Decoding their impacts with Susheel Agarwal

We at Ethika Insurance have settled many such claims where the insurers have denied claims despite policyholders using the grievance redressal mechanism. In such a scenario the IRDAu2019s move seems very reasonable and good for policyholders.

ethikainsurance1
Download Presentation

Decoding their impacts with Susheel Agarwal

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. IRDAI’s New Insurance Reforms: Decoding Their Impacts With Susheel Agarwal The Insurance Regulatory and Development Authority of India (IRDAI) has recently introduced significant reforms in its latest master circular for general insurance, aiming to streamline and enhance the regulatory framework to better protect and serve policyholders. These reforms strive for “Zero-Grievances” by mandating technology-driven mechanisms for efficient grievance redressal, consumer-friendly claim processes, and awareness campaigns. A notable introduction is the phygital approach, blending digital and physical methods to reach remote areas and inform policyholders. Policyholders can now access online services or be assigned new agents if their current intermediary is unavailable, ensuring seamless policy servicing. This is a critical step in addressing unaddressed grievances, with insurance broking firms like Ethika Insurance Broking playing a pivotal role in securing policyholder rights. Ethika Insurance has successfully settled claims where insurers initially denied them, highlighting the necessity of IRDAI's reforms. Another key reform includes the Customer Information Sheet (CIS), which provides clear and concise details about policy inclusivity, exclusivity, risks, and benefits, saving policyholders from the fine print. Additionally, the "Bima Bharosa" initiative enables policyholders to track and claim unclaimed funds easily. These reforms are set to bring positive changes to the insurance industry in India, offering greater benefits and reducing ambiguity for policyholders. Source:- Mid-day

More Related