Banking secy tells pvt life insurers to up affordability of insurance pdts
This story was originally published at 22:07 IST on 16 April 2025
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NEW DELHI - Department of Financial Services Secretary M. Nagaraju Wednesday told chiefs of private life insurance companies to work towards enhancing affordability and accessibility of life insurance products in the country, the finance ministry said. He also told the life insurers to create a robust customer feedback mechanism, and work on prevention of frauds.
Nagaraju, along with other senior officials met the heads of the insurers in Delhi, as part of a "routine review" meeting with the companies. Informist had reported on Tuesday that in the meeting, the ministry will discuss the concerns of the industry and various other developments in the sector.
According to a post by the finance ministry on microblogging site X, the banking secretary also highlighted the need for life insurance companies to achieve seamless claims and customer experience.
The department will also soon hold a meeting with private non-life or general insurers, a finance ministry official told Informist. End
Reported by Priyasmita Dutta
Edited by Ashish Shirke
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