NFO News Irdai-proposed insurance sandbox to give a leg up to customer experience

Irdai-proposed insurance sandbox to give a leg up to customer experience

Source: Mint May 22, 2019

The Insurance Regulatory and Development Authority of India (Irdai) on 18 May came out with draft regulations for the creation of a regulatory sandbox to allow a conducive environment for insurtech and fintech companies to carry innovation in the insurance space. The draft has been placed for public and stakeholder comments till 31 May. Other financial sector regulators such as the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) have also announced a sandbox to enable startups and companies to bring out innovative products and processes.

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