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Home / IRDA Update 

IRDA chairman stresses on medical cover

The Insurance Regulatory Authority (IRA) chairman, Rangachary said that medical insurance would be the thrust area of the insurance sector. The pricing of the products would have to be profitable, once the sector opens up.

In the process of spreading the message of insurance, there will be greater inter-relationship between the agents and the people. The agents should carry themselves in a professional, organized manner. The agents should ensure that the money collected remains safely invested. 

Marketing experience should be fully used and successful servicing of risks would help the state in carrying out its obligations. Areas not covered will have to be tapped by the companies.

In general insurance, a large element of personal covers is not tapped. At the same time Rangachary warned that there would be strict competition with others.

The GTFS portfolio includes almost all the schemes of UTI, bonds of IDBI, IFCI, ICICI, mutual benefit schemes of GIC, LIC and others. The company has 84,000 field workers.

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