IRDA to lay strong emphasis on analytics

India Infoline News Service | Mumbai |

IRDA has set up a subsidiary Insurance Information Bureau for collecting data from the industry and then analysing them

The Insurance Regulatory and Development Authority (IRDA) would lay special emphasis on the use of analytics in the industry for better structuring and pricing of policies.

IRDA member (life) Sudhin Roy Chowdhury said that the insurance regulator has set up a subsidiary Insurance Information Bureau (IIB) for collecting data from the industry and then analysing them.

Chowdhury was speaking to reporters on the sidelines of ICC insurance summit in Kolkata on 6th July.

According to Chowdhury, IIB would sell analysed information to the insurers both in India and abroad.

Chowdhury also pitched for the creation of a health regulator by the ministry for reining in the hospitals and streamlining medical insurance.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.