Insurance Regulatory and Development Authority of India (IRDAI) has granted In-principle approval to Policybazaar for upgradation of license from direct insurance broker (Life and General) to composite insurance broker.

Banking & Finance

Insurance Regulatory and Development Authority of India (IRDAI) has granted In-principle approval to Policybazaar Insurance Brokers Private Limited (Policybazaar), a wholly owned subsidiary of the company for upgradation of license from direct insurance broker (Life and General) to composite insurance broker. This approval is expected to pave the way for Policybazaar to sell reinsurance products besides being a pure play platform focused on insurance buying. This will allow to deepen the insurance penetration in the country by bringing more technology, process control and data analytics based innovation into re-insurance capacity.


     

     

     

 

     


Insurance Regulatory and Development Authority of India (IRDAI)

Founded- 1999; HQ- Hyderabad
Abbreviation- IRDAI
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