IRDAI initiates state insurance plan

ITANAGAR, 5 Oct: The Insurance Regulatory & Development Authority of India (IRDAI) has initiated a state insurance plan with the aim of accelerating last-mile delivery of insurance services, utilising the unique opportunities offered by each state.

“A joint effort of insurance companies under the leadership of the National Insurance Co Ltd (NICL), state authorities, and direct participation of officials from the IRDAI is envisaged to drive the agenda of the plan. State-specific insurance profiles based on a proposed set of parameters will help bridge the gap between the insured and the uninsured population while improving the overall quality of insurance services offered,” the IRDAI informed in a release.

Representatives of the lead insurer (NICL) had a meeting with the chief secretary on 24 January this year to discuss the details of the plan.

“Subsequently, with prior approval of the district authorities, various awareness camps have been organised by the NICL in Itanagar, Naharlagun and Nirjuli market areas in the past months,” it said.

The lead insurer, in collaboration with the state and district authorities and other general insurers, intends to organise more awareness camps at key locations all over the state in the future, it added.