[Insurance Regulatory and Development Authority of India]
[India][Insurance Regulatory and Development Authority of India is a statutory body set-up in April, 2000. It has been set to protect the interest of the holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry. It is headed by Chairman and 5 full-time members and 4 part-time members. It is headquartered in Hyderabad, Telengana, India. Some of its duties, powers and functions includes issue, renew, withdrawal, suspend or cancel certificate of registration, promoting efficiency in conduct of insurance business, undertaking inspections, conducting enquiries and investigations of insurers and insurance intermediaries, etc. ]
Geographical Jurisdiction
[India][IRDAI regulate the insurance industry in India. The regulated entities insurance companies and insurance intermediaries. Insurance companies include life, general, health and reinsurance companies and foreign reinsurance branches. Insurance Intermediaries include insurance brokers, corporate agents, Third Party Administrators for Health Services, Insurance Web Aggregators, Insurance Surveyors and Loss Assessors, Insurance Marketing Firms, Point of Sale etc.]
GFIN Member: check all that apply. Please do not add any additional categories, except where indicated under “Other”.
- Guidance on the application of laws and rules to innovative business models
- Support with authorisation to operate in our jurisdiction
- Live Sandbox testing environment
- Waivers or exemptions, for any entity meeting certain criteria
- Engagement with firms on RegTech and SupTech solutionsEngagement with innovators and/or other third parties (e.g. academics, consultants and other organisations)
- Facilitating hackathons, TechSprints or similar events
- Assistance finding potential public or private sector partners / service providers (enquire for details)
Other [specify]
[Note to GFIN Members: if there is an additional service you offer that cannot fit into one of the above categories, and you think merits a separate category, please let us know]
Focus Area
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Criteria may differ for domestic services.
[Note to GFIN Members: this section is only required if you plan to participate in cross-border testing]
