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IRDAI Chief Urges Doubling of Insurance Coverage in Five Years
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CNBC TV18•15-10-2026, 13:32
IRDAI Chief Urges Doubling of Insurance Coverage in Five Years
- •IRDAI Chairperson Ajay Seth stated that insurance coverage for India's population and economic enterprises must increase from 15% to 30% over the next five years.
- •Seth emphasized that the insurance sector must shift its approach to align with the mindset of the end user.
- •Policyholders were urged to follow three core principles: know your product, know your insurer, and know your regulator.
- •A public insurance registry is anticipated to be operational by January 2028, according to the IRDAI chief.
- •Nandan Nilekani highlighted the potential of the Account Aggregator ecosystem, aiming to expand its reach from 20% to 50% of adults and include gig workers and MSMEs.
Key Questions Answered
Insurance coverage for India's population and economic enterprises needs to increase from 15% to 30% over the next five years, according to IRDAI Chairperson Ajay Seth.
A public insurance registry is expected to become operational by January 2028, as stated by IRDAI chief Ajay Seth at the SAMVAAD Summit.
Ajay Seth stated that policyholders must follow three core principles: "Know your product, know your insurer, know your regulator."
