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IRDA focuses on distribution network to focus growth

The insurance regulator is focusing on bank channels and sub-broker level distribution and citizen service centres for better growth prospects

October 09, 2013 3:47 IST | India Infoline News Service
In order to enhance growth, Insurance Regulatory and Development Authority (IRDA) will introduce another round of regulatory reforms, particularly related to distribution channel.

IRDA Chairman TS Vijayan said that the insurance regulator is focusing on bank channels and sub-broker level distribution and citizen service centres (CSCs) for better growth prospects.

Vijayan was speaking on the sidelines of the convocation of the Institute of Insurance and Risk Management (IIRM) in Hyderabad on Tuesday.

According to Vijayan, insurance industry was going to see major changes in the coming days. Several insurance companies would be listed on stock exchanges and open up abundant opportunities in the segment.

IRDA aim is to make sure that products approved by the regulator should have least chances of miss-selling, Vijayan said.

The IIRM is an international education and research organization. The Institute was set up jointly by the Insurance Regulatory and Development Authority (IRDA) of India and the State Government of Andhra Pradesh, in 2002 for promotion of International Post Graduate Diploma Courses in Insurance / Risk Management(Regular and Distance learning).

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