IRDAI chair Ajay Seth calls fears over insurance reforms misplaced
Business
Worried about job losses from the upcoming insurance sector reforms? Insurance Regulatory and Development Authority of India (IRDAI) Chairperson Ajay Seth says those fears are "misplaced."
According to him, the goal isn't to disrupt existing business models, but to make things smoother and create more opportunities for both companies and policyholders.
Ajay Seth open to extending deadlines
The new reforms could actually open up fresh business options in insurance.
Seth acknowledged that some brokers are concerned about possible revenue loss due to commission limits, and they've asked for more time to share their views.
He's open to extending deadlines for feedback, emphasizing that input based on solid business sense will be taken seriously as these changes roll out.