Will Your Insurance Premium Drop? Experts Demand Lower Prices After IRDAI Cuts

IRDAI’s proposed changes could trigger significant shifts in the insurance industry’s business strategy, with customer focus, lower distribution costs and pricing emerging as key themes. Lovaii Navlakhi, MD & CEO, International Money Matter, explains why insurers and distributors may need to rethink their approach as the new framework takes shape. Nilesh Sathe, former member of IRDAI, discusses why insurers could be expected to pass on cost savings to customers through lower premiums. The discussion also covers potential mergers, acquisitions and exits among insurers, along with the broader goal of improving insurance penetration.