IRDAI vide Press Release dated January 25, 2024 has reported the proceedings of the Fifth Edition of Bima Manthan, which was conducted on January 23, 2024 and January 25, 2024, at Hyderabad.
Other than a comprehensive exploration of the insurance industry’s performance until the third quarter of the fiscal year 2023-24, the discussions were on the topics such as availability of affordable insurance products; adoption of technology; leveraging the India Stack; updates on the State Insurance Plans, and the movement towards principle based regulatory architecture.
The fifth edition of Bima Manthan witnessed discussions and presentations, along with strategies to tap opportunities in the Insurance Industry. Following points were featured in the meeting:
1. Prioritizing Insurance Awareness
2. Achieving 100% cashless claims settlement, coupled with the implementation of a common empanelment system for network providers.
3. Strategies for the enhancement of health insurance penetration.
4. Ensuring prompt claim settlement and expeditious resolution of grievances.
5. Improving the efficiency of distribution channels,
6. Arresting mis-selling and force selling,
7. Directing insurers to intensify efforts towards the payment of unclaimed amounts.
8. Swift implementation of awards by insurance ombudsmen.
9. The mission of achieving maximum insurance inclusion
The meeting further reaffirmed the collective commitment of the Insurance Sector to uphold the industry’s standards, promote innovation, and ensure that insurance remains a vital tool for risk mitigation and financial security.
Source category: IRDAI
Attachments
- /2024/342_Press_Release_Bima_Manthan_Jan_24.pdf
Comments are closed