IRDAI Chairman Ajay Seth pushes reforms against digital insurance platforms
IRDAI (Insurance Regulatory and Development Authority of India) is taking a stand against sneaky tricks used by digital insurance platforms, like making you share extra data, making it hard to cancel policies, or spamming you with calls.
At a Mumbai event, IRDAI Chairman Ajay Seth said it's time for changes that actually help people trust insurance and make it easier for everyone to get covered.
IRDAI asks auditors, opens consultation
To clean things up, IRDAI has asked the Institute of Public Auditors of India to keep an eye on these shady practices for the next nine months.
They're also rolling out a consultation paper soon to address mis-selling and hidden charges, especially after surveys showed most people have faced annoying telemarketing or surprise fees from big platforms like Policybazaar and Tata AIG.
The goal: make buying insurance fairer and way less frustrating.