Regulator Irdai has set up a 10-member panel to review norms related to insurance marketing firm (IMF) with an aim to increase insurance penetration in the country.
The new distribution channel of IMF was introduced in 2015 by Irdai, with the objective of increasing insurance penetration through an area–wise registration approach.
The Insurance Regulatory and Development Authority (Irdai) conducted three workshops for the IMFs last month, wherein operational feedback was received from them.
