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Topic : challenges in insurance sector
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Banking & Insurance Professionals

 

Does IRDA really have sufficient will and teeth to regulate insurance sector & sales technics used?

Created by : Jasmine Mankad, Training Manager, Third Party Distribution Reliance Life Insurance  | 03 28 2011 15:06:25 +0000
Industry : Insurance
Keywords : misselling regulate customers faith in insurer and insurance
Activity:  163 views;  last activity : 03 29 2011 08:49:57 +0000

Present marketing styles and insurers compulsion to allow misselling without any checks can as well ruin customers faith in insurance and also may ruin some of them particularly those of middle to lower income group.

  
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IRDA has just sufficient prowess to regulate insurance sector...but almost minimum control over sales techniques.
By Ravi Ranjan, MBA/PGDM, ICFAI Business School,Kolkata  | 03 28 2011 15:52:31 +0000
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IRDA should really have idea and details of various distribution methods used by insurers and people, organisations (Business partners) back ground and methods of selling used.
By Jasmine Mankad, Training Manager, Third Party Distribution Reliance Life Insurance  | 03 28 2011 15:06:25 +0000
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By putting too many constraints n conditions on working only makes things difficult n IRDA is doing the same.IRDA can't regulate the sales techniques and by mkng the rules more stringent it only mkng the things worse
By Abhimanyu Chauhan, Manager H.R.(Recruitment), Siddhivinayak Corporate Services  | 03 29 2011 08:49:56 +0000
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Present marketing styles and insurers compulsion to allow misselling without any checks can as well ruin customers faith in insurance and also may ruin some of them particularly those of middle to lower income group.
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