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  • Insurance Insurance industry growing at 18% in FY 2023: IRDAI

    Insurance industry growing at 18% in FY 2023: IRDAI

    IRDAI said that it will expand distribution outreach by integrating technology.
    Team Cafemutual Mar 10, 2023

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    IRDAI said that insurance industry is on course to grow at a healthy rate of 18% in FY 2022-23 having already recorded 18% between April and January 2023.

    While life insurance industry is growing at 18% rate, non-life industry has recorded 17% growth till January 2023, said IRDAI.

    IRDAI said this during 2-day- long event ‘Bima Manthan’ held in Hyderabad. Among other key discussion points were:

    • Expanding distribution outreach by integrating technology
    • Leveraging government database to expand regulatory outreach
    • Increasing awareness of insurance with the help of state governments
    • Introducing advanced data analytical tools like Bima Satark - a fraud detection tool
    • Encouraging cashless claim settlement
    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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