Insurance marketing firms provide more options

So far, insurance products were being sold to you by agents, insurers’ direct sales force, corporate agents, brokers, web aggregators and microfinance institutions. This year, another channel called insurance marketing firms (IMFs) began operations. According to the list published by the Insurance Regulatory and Development Authority of India (IRDAI) on September 8, 34 entities have been licensed so far. Industry experts say that the regulator has launched this new channel to increase insurance penetration. “The purpose is to attract independent entrepreneurs to set up ...

Click here to read more>>