IRDAI Chief Calls for Roadmap to achieve ‘Insurance for All by 2047’
IRDAI Chief Calls for Roadmap to achieve ‘Insurance for All by 2047’ MUMBAI, 12 April 2023: Mr Debashish Panda, Chairman, Insurance Regulatory and Development Authority of India (IRDAI), today called upon all stakeholders to come together to help achieve the nation’s aspiration of providing insurance to every person in India by the year 2047, which marks 100 years of our Independence. He was delivering the inaugural address at FINCON 2023, the 22nd annual insurance conference organized by Federation of Indian Chambers of Commerce and Industry (FICCI). While the insurance industry in India is more than 20 years old with a total premium of more than Rs 10 lakh crore and an AUM of Rs 59 lakh crores in FY 2023, the industry had registered 16 per cent growth in both life and non-life products in February 2023. Calling upon the gathering that comprised representatives of all major insurance companies to help in driving penetration, he said, “This is a big responsibility which lies...