RSS Feed
Twitter
8:57 AM
Blogger
The norms for traditional life insurance products will not impact industry, according to T. S. Vijayan, Chairman of the Insurance Regulatory and Development Authority.
“Initially there were some apprehensions. But, we had many sessions with the industry and explained to them what it is, and about modalities of implementation,” he told newspersons here on Saturday. The norms will come into force from October 1 this year. The new norms have changed the product design by aligning charges of traditional products with those of the unit-linked plans and pension products, among others.
Higher insurance penetration in the developed countries was due to the right use of local elements in business. “The old players in the industry could understand this and focussed more customer satisfaction than topline growth, he said.
naga.gunturi@thehindu.co.in
Source: thehindubusinessline
“Initially there were some apprehensions. But, we had many sessions with the industry and explained to them what it is, and about modalities of implementation,” he told newspersons here on Saturday. The norms will come into force from October 1 this year. The new norms have changed the product design by aligning charges of traditional products with those of the unit-linked plans and pension products, among others.
Higher insurance penetration in the developed countries was due to the right use of local elements in business. “The old players in the industry could understand this and focussed more customer satisfaction than topline growth, he said.
naga.gunturi@thehindu.co.in
Source: thehindubusinessline
0 comments:
Post a Comment