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Irdai's recent reforms will help expand the market

The unique capacity of the insurance industry to engender resilience and self-sufficiency, by underwriting risks and spurring the capital markets provides the foundation for the nation's progress

Prashant Tripathy
insurance, irdai, health insurance, general insurance
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India’s resolve to emerge as a global economic powerhouse is anchored in the twin pillars of self-reliance and economic resilience. As macroeconomic conditions worldwide present newer risks and challenges, insurers and re-insurers assume a crucial role in insulating the economy from external shocks. The unique capacity of the insurance industry to engender resilience and self-sufficiency, by underwriting risks and spurring the capital markets provides the foundation for the nation’s progress.
Against this backdrop, the Insurance Regulatory and Development Authority of India’s (Irdai’s) visionary ‘Insurance for All by 2047’ mission plays a crucial role in realising the goal of building a financially robust and resilient nation.
Irdai’s road map for insurance reforms encompasses a range of strategic measures for enhancing the accessibility and affordability of insurance products, while also promoting the
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Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www-business-standard-com-nalsar.knimbus.com or the Business Standard newspaper

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First Published: Apr 23 2023 | 5:27 PM IST

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