May 27, 2026
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IRDAI

IRDAI Mandates Executive Pay Reform to Prioritize Customer Outcomes

IRDAI Mandates Executive Pay Reform to Prioritize Customer Outcomes

Business News Desk03 mins mins

New Regulatory Framework for Insurance Leadership The Insurance Regulatory and Development Authority of India (IRDAI) has officially mandated that insurance companies link executive compensation packages to customer-centric outcomes and long-term business performance. Effective immediately, these regulations require insurers to overhaul their internal incentive structures to ensure that leadership rewards are no longer tied solely to…

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IRDAI Pushes for Industry-Wide Standardized Definition of 'Claim' in Insurance

IRDAI Pushes for Industry-Wide Standardized Definition of ‘Claim’ in Insurance

Business News Desk03 mins mins

The Insurance Regulatory and Development Authority of India (IRDAI) has initiated a move to mandate a standardized definition of a “claim” across the insurance sector. This regulatory push, aimed at bringing uniformity to the industry, seeks to streamline how insurance companies categorize, report, and settle requests for coverage. By establishing a singular definition, the regulator…

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IRDAI Proposes Shift Toward Effort-Based Insurance Commissions

IRDAI Proposes Shift Toward Effort-Based Insurance Commissions

Business News Desk03 mins mins

New Commission Structures on the Horizon The Insurance Regulatory and Development Authority of India (IRDAI) is currently drafting a proposal to link insurance agent commissions directly to the level of sales effort, a shift that marks a major departure from existing flat-rate payout models. By rewarding high-engagement sales channels and tightening remuneration for low-touch platforms,…

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