IRDA setting Guidelines for Bancassurance
The Insurance Regulatory & Development Authority (IRDA) is working on a set of guidelines for the bancassurance segment that willnable insurers to pass on the benefit of savings in distribution of policies through the channel.
“It is an established fact that the cost of distributing products through the bancassurance channel is less than that of the agency channel where an advisor spends more time and money to travel and convince clients", Mr R Kannan, member actuary, IRDA.
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