Mis-Selling, High Costs, Fragile Trust: Inside IRDAI's Push To Fix Insurance Sector

Insurance Regulatory and Development Authority of India (IRDAI) member Swaminathan Iyer in an interview with NDTV Profit on Monday has called for a revamp of the insurance distribution system, highlighting fragile customer trust, rising distribution costs and persistent concerns over mis-selling. While he was speaking on the regulator's consultation paper on insurance distribution, Iyer said the focus now was on expanding availability across India, ensuring that incentives for distributors were aligned with customer interests and improving the delivery of insurance products