Adani Enterp. 1803.00↓-39.90(-2.17%)
Adani Ports 661.60↓-4.50(-0.68%)
Apollo Hospitals 4361.30↑12.90(0.30%)
Asian Paints 2882.10↑38.25(1.35%)
Axis Bank 864.20↓-4.55(-0.52%)
B P C L 346.20↑2.50(0.73%)
Bajaj Auto 4308.30↓-6.05(-0.14%)
Bajaj Finance 5937.90↑25.20(0.43%)
Bajaj Finserv 1317.90↓-14.20(-1.07%)
Bharti Airtel 765.20↓-7.10(-0.92%)
Britannia Inds. 4327.80↑71.40(1.68%)
Cipla 915.05↑11.05(1.22%)
Coal India 230.05↑0.50(0.22%)
Divi's Lab. 3231.65↑28.55(0.89%)
Dr Reddy's Labs 4868.75↑10.55(0.22%)
Eicher Motors 3200.70↓-46.25(-1.42%)
Grasim Inds 1661.95↓-25.50(-1.51%)
H D F C 2759.40↑16.40(0.60%)
HCL Technologies 1048.95↑11.45(1.10%)
HDFC Bank 1674.60↑2.70(0.16%)
HDFC Life Insur. 513.30↓-16.95(-3.20%)
Hero Motocorp 2459.35↑10.80(0.44%)
Hind. Unilever 2497.95↑5.35(0.21%)
Hindalco Inds. 422.35↓-7.50(-1.74%)
ICICI Bank 885.65↓-8.75(-0.98%)
IndusInd Bank 1116.35↓-9.85(-0.87%)
Infosys 1227.35↑3.95(0.32%)
ITC 408.25↑7.95(1.99%)
JSW Steel 710.65↓-5.15(-0.72%)
Kotak Mah. Bank 1893.65↑9.65(0.51%)
Larsen & Toubro 2215.20↓-17.55(-0.79%)
M & M 1212.75↓-5.85(-0.48%)
Maruti Suzuki 8558.45↓-156.20(-1.79%)
Nestle India 20496.85↑23.75(0.12%)
NTPC 169.70↓0.00(0.00%)
O N G C 159.60↑0.45(0.28%)
Power Grid Corpn 231.55↑0.65(0.28%)
Reliance Industr 2349.00↑2.95(0.13%)
SBI Life Insuran 1106.55↓-22.30(-1.98%)
St Bk of India 543.15↓-1.65(-0.30%)
Sun Pharma.Inds. 989.45↑1.70(0.17%)
Tata Consumer 700.40↓-3.00(-0.43%)
Tata Motors 471.20↓-5.60(-1.17%)
Tata Steel 106.15↓-1.85(-1.71%)
TCS 3160.85↑56.05(1.81%)
Tech Mahindra 998.75↓-23.05(-2.26%)
Titan Company 2568.30↓-10.95(-0.42%)
UltraTech Cem. 7358.50↓-117.30(-1.57%)
UPL 734.70↑2.65(0.36%)
Wipro 368.05↑5.20(1.43%)

Irdai's recent reforms will help expand the market

The unique capacity of the insurance industry to engender resilience and self-sufficiency, by underwriting risks and spurring the capital markets provides the foundation for the nation's progress

Prashant Tripathy

insurance, irdai, health insurance, general insurance

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4 min read Last Updated : Apr 23 2023 | 5:27 PM IST

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India’s resolve to emerge as a global economic powerhouse is anchored in the twin pillars of self-reliance and economic resilience. As macroeconomic conditions worldwide present newer risks and challenges, insurers and re-insurers assume a crucial role in insulating the economy from external shocks. The unique capacity of the insurance industry to engender resilience and self-sufficiency, by underwriting risks and spurring the capital markets provides the foundation for the nation’s progress.

Against this backdrop, the Insurance Regulatory and Development Authority of India’s (Irdai’s) visionary ‘Insurance for All by 2047’ mission plays a crucial role in realising the goal of building a financially robust and resilient nation.

Irdai’s road map for insurance reforms encompasses a range of strategic measures for enhancing the accessibility and affordability of insurance products, while also promoting the indu