The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 8 member committee headed by Amitabh Chaudhry, Chief Executive officer, HDFC Standard Life Insurance Company, to review life insurance product regulations.
The members of the committee include K S Gopalakrishnan, CEO, Aegon Religare Life Insurance, Sai Srinivas, Appointed Actuary, Bajaj Allianz Life Insurance and Sandeep Bakshi, CEO, ICICI Prudential Life.
The committee will review the existing framework of IRDA-linked and non-linked insurance product regulations besides other key aspects such as changing economic and insurance market environment, customers’ needs and expectations and insurance product flexibility and innovations.
It will submit its report to the IRDAI by March 15, 2017.