SURESH MATHUR COMMITTEE

April 27, 2019

The Insurance Regulatory and Development Authority of India (IRDAI) has set up a committee to review the regulatory framework on microinsurance and recommend measures to increase the demand for such products.

About:

  • Composition: The 13-member panel comprising officials of the IRDAI, insurers and NGOs is chaired by IRDAI Executive Director Suresh Mathur.

  • Mandate: To review the regulatory framework on microinsurance and recommend measures to increase the demand for such products. It will also suggest changes in the distribution structure, if any, including mobile-based and technology driven solutions.

  • Background: The committee has been formed in the backdrop of a less- than-desired offtake of microinsurance products despite their inherent benefits. Its market penetration remains low.

Source : The Hindu