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There is a strong need to control mis-selling: ICICI Bank

Speaking at an event organised by the National Insurance Academy in Mumbai on Tuesday, Kochhar said that there is a strong need to control mis-selling

October 17, 2013 3:12 IST | India Infoline News Service
ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar said that the insurance industry needs to focus on simple and transparent products to prevent mis-selling.

Speaking at an event organised by the National Insurance Academy in Mumbai on Tuesday, Kochhar said that there is a strong need to control mis-selling.

Kochhar further said that v
arious studies have revealed that new business profit margins in India are lower than other nations. This is reflected from low persistency and high costs in life insurance.



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