Insurance sale at parent banks worries regulator

The IRDAI is considering regulations to curb insurers’ reliance on parent banks for bancassurance sales, often exceeding 90%. This follows concerns over misselling and aims to promote diversification through agency and digital channels, fostering a level playing field within the industry. The regulator encourages insurers to explore open architecture distribution models. The IRDAI is considering regulations to curb insurers’ reliance on parent banks for bancassurance sales, often exceeding 90%. This follows concerns over misselling and aims to promote diversification through agency and digital channels, fostering a level playing field within the industry. The regulator encourages insurers to explore open architecture distribution models.  Economic Times