Bima Vahak : IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) has announced that the guidelines for the women-centric insurance distribution channel called “Bima Vahak” will become effective upon the launch of “Bima Vistaar,” an all-in-one standard insurance product currently under development.
- The primary objective of Bima Vahak is to establish a dedicated distribution channel focused on enhancing insurance inclusion and awareness in every village/gram panchayat, thereby increasing the accessibility and availability of insurance throughout the country.
- IRDAI stands for the Insurance Regulatory and Development Authority of India. It was established on April 19, 2000 to regulate the insurance industry in India.
- IRDAI’s responsibilities include:
- Regulating and licensing the insurance and re-insurance industries in India
- Protecting the interests of policyholders
- Promoting the orderly growth of the insurance industry in India