The Indian insurance regulatory framework is set for an overhaul
and the proposed amendments by the Government of India aim to focus
on protection of policyholder interest, facilitating more players
in the market, enhancing efficiencies in the insurance industry and
promoting ease of doing business to ensure "Insurance for All
by 2047".
In this podcast, our Partners, Sidharrth Shankar and Shivangi
Sharma Talwar discuss the proposed amendments to the regulatory
landscape and its impact on stakeholders and the Indian insurance
sector.
Transcript:
Question 1. What are the recent developments in the
insurance sector
Response:
In November 2024, the Ministry of Finance in consultation with
the IRDAI issued a memorandum proposing amendments to overhaul the
insurance regulatory framework. The proposed amendments focus on
ease of doing business and enhancing insurance penetration to
achieve the goal of "Insurance for All by 2047". The
Government also