IRDAI Backed By Strong Research In Push To Cut Insurance Costs, Says Suresh Mathur

The Insurance Regulatory and Development Authority of India’s consultation paper on insurance distribution costs is a significant step towards making policies more affordable for customers, according to former IRDAI Executive Director Suresh Mathur. Speaking to NDTV Profit, Mathur said the regulator’s objective is to reduce costs across the value chain and improve affordability through a new audit framework, while noting that the proposed changes could dampen incentives for some insurers to aggressively push certain products. He added that the consultation paper is backed by extensive research and reflects a considered approach by the regulator.