Non-life insurance to witness consolidation in 2022
A new chairman for the sectoral regulator, review of the existing regulations, consolidation of the players, focus on profitability, larger companies reaping the benefit of investments in technology, upward revision in the third-party motor insurance policy are some of the 2022 forecasts by the senior officials of Indian general insurance industry.Officials also said it will be interesting to see how digital insurance companies will be able to scale up their business this year.
It is going to be more than seven months since the Insurance Regulatory and Development Authority of India (IRDAI) is without a Chairman. There are many old regulations that need to be reviewed, senior industry officials told IANS not wanting to be quoted.
Source : Economic Times