India's Insurance overhaul:IRDAI's fight against commissions,what changes & will policies be cheaper

In this conversation, ThePrint's Deepika Amirapu sits down with Mr. M.. Nagaraja Sarma, former Chairman and Managing Director of United India Insurance Company Limited and former Secretary General of the General Insurance Council. Following the Insurance Regulatory and Development Authority of India's (IRDAI) release of its landmark two-part consultative paper, 'Re-imagining the Economics of Insurance Distribution', Sarma exposes the hidden practices within the insurance sector. He explains how powerful corporate agents, auto dealers, and bancassurance channels pocketed 55% to 60% of customer premiums through forced and tied selling. Sarma discusses how the proposed regulatory caps on motor and health insurance commissions aim to bring absolute transparency, protect individual agents, stop mis-selling, and ultimately lower premium costs for the average policyholder over the next 12 to 18 months. --------------------------------------------------------------------------------------------- Exclusive content, special privileges & more – Subscribe to ThePrint for Special benefits: https://tinyurl.com/4ymm9wh5 --------------------------------------------------------------------------------------------- Connect with ThePrint » Subscribe to ThePrint: https://tinyurl.com/4ymm9wh5 » Subscribe to our YouTube Channel: https://bit.ly/3nCMpht » Like us on Facebook:   / theprintindia   » Tweet us on Twitter:   / theprintindia   » Follow us on Instagram:   / theprintindia   » Find us on LinkedIn :   / theprint   » Subscribe to ThePrint on Telegram: https://t.me/ThePrintIndia » Find us on Spotify: https://spoti.fi/2NMVlnB » Find us on Apple Podcasts: https://apple.co/3pEOta8