Category: IRDA

Categories
IRDA

How to Locate an Agent through IRDA Agent Locator

look up

How to Locate an Agent through IRDA Agent Locator

Are you looking to locate a registered insurance agent in India? Well, look no further, we will show you exactly how you can get a list of registered insurance agents near you through the IRDA agent locator portal, and you can locate your nearest registered insurance agent by pincode.

We will also give you a complete walk-through on how you can locate your nearest agent.

IRDA Agent Locator Portal
IRDA Agent Locator Portal

Steps to Locate an Agent through IRDA Agent Locator

Step 1.) Search for ‘IRDA agent locator’

Search for IRDA agent locator on your preferred search engine and navigate to the official IRDA agent locator page. You can also access the portal directly via – https://agencyportal.irdai.gov.in/PublicAccess/AgentLocator.aspx

Step 2.) Enter your Details

Now, you can either do a detailed agent locator search or you can do a broad agent locator search. Let us give you can example of both.

 

Detailed agent locator search:

  • Here, you will need to enter the name or license number (preferred) of the agent.
  • Once entered, click on ‘Locate’, you will now get all of the publicly available information about that particular agent.

Example of a detailed agent locator search

Broad agent locator search:

  • Enter the State, District, Insurance Type, and PIN code. Once entered, press ‘Locate’
  • You will now get a detailed list of all insurance agents in that particular pin code along with their license number, IRDA URN, Agent ID, Phone Number and Name.

Example of a broad agent locator search

Step 3.) Confirm Details

Now that you have the relevant agent details with you like the agent ID, license number, name of agent, mobile number, etc, you can now verify these details. If satisfied, you can reach out to the agent via their registered phone number that the IRDA agent locator tool provided you with.

Cross-verify with IRDA PAN Look up

You can also cross check the authenticity of your insurance agent by verifying their PAN details on the IRDA PAN Look up tool. Doing so will ensure that you know for a fact that your insurance agent is registered with IRDA of India, and is authorized to sell insurance in India.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

Experience the power of Artificial Intelligence (A.I)

Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

Chat with A.I

Related articles

Categories
IRDA

IRDA Hall Ticket (Everything You Need to Know)

IRDA Exams

IRDA Hall Ticket (Everything You Need to Know)

The IRDA of India organises and holds a variety of exams every year. Students can opt for these exams, and if they pass, they will be eligible to work within the insurance industry of India as professionals. The IRDA of India holds a large number of exams each year.

Some of the notable exams held by the IRDA of India include the IC 38 Exam, the Insurance Surveyor Exam, the Insurance Broker Exam, the Corporate Agent Exam, the IRDAI Exam, and more.

Let us talk about how we can download the IRDA exam hall ticket below:

  • How to Download Your IRDA Hall Ticket
  • How to Download IRDA Hall Ticket Scorecard
  • Print your IRDA hall ticket

How to Download Your IRDA Hall Ticket

How to Download the IC 38 Exam Hall ticket

  • Visit the III Exams Portal: First, you will need to visit the III Exams portal managed by the Insurance Institute of India.
  • Pay Exam Fees: Now, you will need to pay exam fees. To pay exam fees, kindly navigate to the ‘Payment’ section and click on ‘Exam Fees.’ Next, you will have to enter your batch ID or URN and make payment. Once you have made the payment, book your seat. If you have already made a payment and booked your seat, you can now move forward with downloading your hall ticket.
  • Download Hall Ticket: Now, navigate to the ‘Download’ section on the top bar and click on ‘Hall Ticket.’ Now, enter your URN, date of birth, and exam date. Click on the ‘Download’ button, and your IC 38 exam hall ticket will be downloaded. Save your hall ticket for further reference. You will also need to take a printout of your hall ticket to show the examiner.
Download IRDA hall ticket
IRDAI download hall ticket page

Be sure to read the instructions for candidates on the bottom of the hall ticket carefully. The examiner has listed important instructions students need to adhere to while giving the exam.

How to Download Your IC 38 Exam Score Card

  • Visit the III Exams Portal: You will need to visit the III Exams portal managed by the Insurance Institute of India.
  • Scorecard section: Now, you will need to navigate to the ‘Downloads’ section and click on ‘Score Card.’
  • Enter your details: Now that you are on the score card page, enter your URN, date of birth, and exam date. Once entered, click on ‘Download.’ Your score card will be downloaded.

How to Download the IRDA Assistant Manager Exam Hall Ticket

The IRDA of India has issued an assistant manager notification for 2023. Under this notification, the IRDA has requested applications from eligible candidates for the assistant manager post. A total of 45 vacancies for the assistant manager post have been opened by the IRDA in 2023. Important facts include:

  • Number of vacancies: 45
  • Post: Assistant manager
  • Application mode: online application
  • Application start date: April 11, 2023
  • Last date of application: May 10, 2023
  • Salary: ₹ 1,30,000

The eligibility criteria for this exam can be accessed here.

How to apply for the IRDA Assistant Manager Post

Mentioned within are the steps for you to apply for the post:

  • Step 1: Visit the official IRDA website www.irdai.gov.in
  • Step 2: Navigate to the ‘Careers’ section on the top right-hand side.
  • Step 3: Download the ‘ Notification for Assistant Manager Recruitment 2023’ PDF.
  • Step 4: Navigate to ‘point number 8’ and click on “Recruitment for the post of Assistant Manager (2023).” Alternatively, you can also access the link here.
  • Step 5: Fill out the application form and make the payment.
irdai assistant manager form
IRDAI assistant manager Application form

Print your IRDA Assistant Manager Exam Hall Ticket

The IRDAI has not yet announced the date of the exams. Once they announce the exam dates, they will furnish details on how to download the IRDA assistant manager exam hall ticket. Kindly keep an eye on any emails coming from the IRDA of India.

Author Bio

This article is written by Team InsuranceLiya.com, an independent website that writes about insurance, finance, health, and more. Our writers have a wealth of knowledge, experience, and degrees in the fields of insurance, finance, economics, and beyond.

Experience the power of Artificial Intelligence (A.I)

Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

Chat with A.I

Related articles

Categories
IRDA

Top 3 ways you can raise a complaint with the IRDA

complaint

Top 3 ways you can raise a complaint with the IRDA

It is the duty of an insurance company to assist their policyholders to the maximum extent possible. If a policyholder is not satisfied with the assistance and support their insurance company provides, the policyholder has the ability to approach the insurance regulator and lodge a complaint towards the insurance company.

Let us investigate the top 3 ways a policyholder can lodge a complaint with The IRDA of India.

  • IRDA IGMS
  • Personally visit the IRDA office
  • Call or Email IRDA

IRDA IGMS

The IRDA has put into place an online grievance management system called as The IRDA Integrated Grievance Management System (IGMS). The IGMS system can be accessed through the IRDA website, and can be used to do the following:

  • To lodge a complaint against an insurance company
  • To keep track of all lodged complaints
  • To assign a turn-around time for each complaint
  • It sends notifications to insurance companies asking them to tend to the complainant
  • Provides resolution to the complainant

Personally visit the IRDA office

If the policyholder so wishes, he or she can even personally visit The nearest IRDA office and lodge a written complaint against the insurer. Once at the office, kindly ask for the complaints department of the IRDA and furnish your complaint letter to the officer. Do remember to take an acknowledgment of the same.

IRDA has 3 main offices across India.

Mumbai

Royal Insurance Building,

Ground Floor,

12, Jamsetji Tata Road,

Mumbai – 400 020.

Hyderabad

United India Towers, 9th Floor,

3-5-817/818, Hyderguda, Basheerbagh,

Hyderabad – 500029

Delhi

Gate No 3, Jeevan Tara Building,

1st Floor, Sansad Marg,

New Delhi – 110001

Call or Email IRDA

Phone number

Location

Mumbai

+91 22 22898600

Hyderabad

+91 40 66514888

Delhi

+91 11 2344 4404

Toll-free

 1800 4254 732 / 155255

Email ID: Complaints@irdai.gov.in

As mentioned above, there are various ways you can contact The IRDA and initiate a complaint against your insurance company.

The policyholder should also be aware that apart from The IRDA, the policyholder can also lodged a complaint with The Insurance Ombudsman.

Related articles

Experience the power of Artificial Intelligence (A.I)

Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

Chat with A.I
Categories
IRDA

How to download The IRDA Surveyor list (Easy Guide)

list

How to download The IRDA Surveyor list (An Easy Guide)

An insurance surveyor is one who assesses the damages that have occurred to the insured object/person. It is the role of the surveyor to investigate the case, note down the observations, and disburse a case report to the insurance company.

Once the insurance company has received the surveyor’s report, the insurance company will take a decision on whether or not to disburse the claim amount.

As you can imagine, the role of an insurance surveyor is pivotal in the insurance sector, and all surveyors need to be registered with the IRDA of India.

Let us now see how you can download the complete list of IRDA registered surveyors from the official IRDA website.

How to download The IRDA Surveyor list?

Step 1: Go to Google and type in ‘IRDA surveyor list’

google IRDA surveyor list

Step 2: Click on the first official IRDA result

click on the IRDA result

Step 3: Download the desired excel sheet

IRDA surveyor page

Here, you can download a complete list of authorized IRDA corporate surveyors as well as IRDA individual surveyors.

Step 4: Find out if a surveyor is registered with the IRDA

list of IRDA corporate surveyors

Once you have downloaded the list, you can skim through the list and find out whether any given surveyor is registered with the IRDA. It is imperative that you check if a surveyor is registered and regulated by the IRDA before handing over sensitive details and access to him.

Experience the power of Artificial Intelligence (A.I)

Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

Chat with A.I

Related articles

Frequently asked questions about IRDA surveyors

  • How many corporate surveyors are registered under the IRDA?

    You can find the complete list of all IRDA registered corporate surveyors here.

  • How many corporate individual surveyors are registered under the IRDA?

    You can find a total list of all individual surveyors registered under IRDA here.

  • Is it mandatory for surveyors to be registered under IRDA?

    Yes. it is mandatory for corporate as well as individual surveyors to be registered with the IRDA of India.

    • Categories
    IRDA

    What are the top 10 most important powers of the IRDA?

    government office

    What are the top 10 most important powers of the IRDA?

    The IRDA of India is the apex regulator of the insurance sector of India. It was formed by Parliament of India in 1999 and later began its role as the chief regulator of the insurance business in India.

    Let us look at the top 10 most important powers bestowed upon the IRDA by the Indian Parliament.

    Top 10 most important powers of the IRDA

    1. Licenses: The IRDA has the power to accept or reject the application of any company that may want to operate within the insurance sector in India. No insurance company can operate without a license from the IRDA.
    2. Claim settlements: The IRDA has put in various mechanisms in place that encourage the swift and honest settlement of a policyholder’s insurance claim.
    3. Grievances: The IRDA has the ability to mediate between the policyholder and the insurance company in the event of a grievance. In fact, the IRDA has setup a specialized online grievance redressal system called IRDA IGMS.
    4. Audits: The IRDA has certain powers bestowed upon it, whereby it can conduct timely audits of the books of insurance companies, and ensures that their books are in alignment with the tenets laid down by the IRDA. This auditing system inspires confidence among policyholders.
    5. Regular regulations: The IRDA has the ability to survey the insurance market and enforce new regulations that it seems fit. It can change, modify, and remove any regulation that it may deem fit.
    6. Discourage malpractices: The entity has a no-nonsense outlook when it comes to malpractices and strictly penalizes insurance companies in case of any malpractices.
    7. Regulates insurance premiums: IRDA has the power to enforce regulations on insurance premium. This is done with the view of keeping insurance premium rates as low as possible and increase the penetration of insurance by making it affordable.
    8. Monitoring investments: IRDA monitors all investments made by insurance companies. This is done to ensure the fidelity and financial stability of insurance companies.
    9. Increasing rural insurance penetration: IRDA specifies a certain percentage of business that is to be carried out in rural areas of India, thereby increasing penetration and bringing the insurance product to the rural masses.
    10. Growth of the industry: IRDA is assigned with managing the sustainable growth of the insurance industry. It does so by enforcing all of the above tenets as and when it deems fit. The insurance sector has seen tremendous growth post the establishment of the IRDA.

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I

    Related articles

    Frequently asked questions about IRDA

  • When was the IRDA formed?

    The IRDA was formed in the year 1999.

  • Who regulates the Indian Insurance business?

    IRDA of India.

  • Who recommended the formation of the IRDA?

    Shri. R.N Malhotra recommended the formation of the IRDA through The Malhotra Committee in 1999.

  • What is IRDA IGMS?

    IRDA IGMS is IRDA's online grievance redressal system. This is where a troubled policyholder can lodge a complaint.

  • Who is the current Chairman of IRDA?

    Debasish Panda (as of 2022)

    • Categories
    IRDA

    Which committee recommended the establishment of IRDA (And Why?)

    regulation

    Which committee recommended the establishment of IRDA (And Why?)

    The Insurance Regulatory and Development Authority (IRDA) was recommended by The Malhotra Committee in the year 1999. The purpose of The Malhotra Committee (headed by R.N Malhotra) was to recommend the Government the best course of action pertaining to the growth, regulation, and structure of the Indian Insurance Sector.

    The committee was formed in 1993 and provided its recommendations in 1999.

    Recommendations of the Malhotra Committee

    Let us briefly list the most important recommendations of this committee:

    • Liberalization of the Indian Insurance Industry.
    • The formation of a governing body (IRDA).
    • Divestment of Government Insurance companies up to 50%.
    • Amendments to the Indian Insurance Act.
    • Foreign entrants into the domestic insurance sector.
    • Digitalization and computerization of the insurance business.

    Why was the formation of IRDA recommended?

    RN Malhotra
    Mr. R.N Malhotra

    The Malhotra Committee wanted the governance and regulation of the insurance sector to move away from the finance ministry to an independent governing body (which would later be the IRDA). This recommendation was made with the understanding that an industry specific institution would better regulate the industry due to its specialized nature.

    The IRDA was formed in 1999 under the watchful eye of the Indian Parliament through the IRDAI Act, 1999.
    The committee also recommended certain primary functions of The IRDA which we will touch upon below.

     

     

    Primary functions of The IRDA

    • Regulate the insurance sector by having the ability to disburse or reject the license of any insurance company.
    • Regulating insurance premiums.
    • To safeguard and protect the interest of policyholders.
    • Increasing transparency and trust within the industry.
    • Eliminating malpractices
    • Increasing insurance penetration in India.
    • Growing the insurance market sustainably.
    • Conducting audits of insurance companies.
    • Recommendations of margins to be kept by insurance companies to ensure financial integrity of an insurance company.
    • Penalize non-complying insurance companies.

    Formation of the IRDA along with the liberalization of the Indian Insurance Sector were two major inflection points that unleashed the explosive potential of the insurance sector in India.

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I

    quizTake this simple quiz to find out how much you know about the IRDA, and the Malhotra Committee!

    Click on “Next” to begin!

    Frequently asked questions about IRDA , and The Malhotra Committee

  • When was the IRDA formed?

    The IRDA was formed in 1999.

  • What is the composition of the IRDA
    • Chairman
    • 5 full-time members
    • 4 part-time members
  • Who headed The Malhotra Committee?

    Shri. R.N Malhotra (RBI Governor)

  • How can I lodge a complaint with The IRDA?

    You can lodge a complaint with IRDA through the use of their online IGMS system.

  • Who is the current Chairman of IRDA?

    Shri. Debasish Panda

    • Related articles

    Categories
    IRDA

    Check the status of an insurance agent through IRDA Pan Look up (Guide)

    look up

    How to Check the Status of any Insurance Agent through IRDA Pan Look up

    It is imperative that you buy any insurance policy directly through an insurance company or through a registered insurance agent. That being said, how do you verify if the insurance agent is registered with the IRDA?

    Ensuring that your insurance agent is registered with the IRDA is of paramount importance. Ensuring this leads to transparency, trust, and safety. So, How do you know for sure that your insurance agent is registered with the IRDA?

    Well, you can find this out through the IRDA PAN Look up page. We’ll talk about the IRDA PAN Look up page in depth, and the steps you need to follow to find out if your insurance agent is registered with the IRDA of India.

     

    • IRDA Pan Look up
    • IRDA Pan look up guide
    • Importance of being registered under IRDA

    IRDA Pan Look up

    The Insurance Regulatory and Development Authority of India (IRDA) regulates and authorizes all insurance agents. A legitimate insurance agent must be registered under the IRDA database. You can find out if your agent is registered under the IRDA by using the IRDA Pan Look up feature on the official IRDA website.

    All you have to do is either punch in your insurance agent’s Aadhar ID or PAN ID, enter the captcha and press on enter. Once this is done you will immediately be redirected to the results page where you will be shown whether your agent is a registered agent or not.

    IRDA Pan look up guide

    Step 1: Search for the Official IRDA website on your preferred search engine

    irda pan look up google search

    Click on the official website.

    Step 2: Enter the PAN ID or Aadhar ID of your agent in the box

    IRDA pan look up google search

    Enter the captcha and press “Submit”

    Step 3: Check the Results

    IRDA pan look up details page

    You will be able to find out the following information within the results page if your agent is registered under the IRDA:

    • Agent’s date of birth
    • Insurer name
    • Agency code
    • Date of appointment
    • Status of the agency
    • Status change (if any)
    • License No

    Importance of being registered under IRDA

    • The IRDA looks out for the well being of the policyholder by regulating the industry.
    • A registered agent must follow a strict protocol laid down by the IRDA. This leads to a safer business environment for the agent as well as the customer.
    • It is compulsory for official insurance agents to be registered within the IRDA.
    • You can check if the agent’s agency is still in force.

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I

    Related articles

    Frequently asked questions about IRDA Pan Look up

  • How can I check if my agent is registered with the IRDA?

    You can find out if your agent is registered with the IRDA by using the Pan Look up feature

  • Is it mandatory for an agent to be registered with the IRDA?

    Yes, it is mandatory.

  • Does IRDA have an official website?

    Yes. irdai.gov.in

    • Categories
    IRDA

    The Integrated Grievance Management System of IRDA

    website

    The Integrated Grievance Management System of IRDA (IGMS)

    An excellent grievance management system is something desired by all customers, isn’t it? All of us as consumers want our issues to be resolved quickly and without any hassle, and this is expected from all the industries, even insurance. So, to fulfill this expectation of its customers The IRDA as the regulator of the industry launched the Integrated grievance Management System.

    Let’s Get a better insight into the Integrated grievance management system of the IRDA

    What is IRDA IGMS?

    It is an online customer grievance or complaint registration system launched by the IRDA in 2010. It is like a portal for the customers to connect with the insurers and get their issues resolved.

    The IGMS has the online complaint management system of all the insurance companies linked to it. The customers can not just register their complaints but also track the progress of their complaint resolution. The Integrated Grievance Management system or the IGMS to the insurance policyholders also provides the facility to register their problems through a gateway in case they are not able to directly connect to their insurance company for some reason.

    The IGMS also serves the purpose of being a tool to monitor the grievance redressal policies, methods, and duration of different insurance companies. The IRDA keeps a real-time and close watch of the complaints and their progress through the IGMS.

    When should you contact The IRDA?

    Every complaint or issue that an insurer has must be first registered with the insurance company and only if needed one should escalate it to the IRDA’s consumer affairs department. You must use the IGMS if your issue or issues are not solved by your insurer after 15 days of registering it.

    If a policyholder registers a complaint with the IGMS, it is updated on the insurer’s system as well which is mirrored on the IGMS.

    The link or contact of your insurer’s complaint redressal mechanism is mentioned on your policy papers.

    What are the steps involved in the process of registering a complaint on IGMS?

    There are three simple steps involved for registering and tracking your complaint:

    1. Register yourself by entering your details.
    2. Register your complaint.
    3. After registering your complaint, view the status to track its progress.

    The IGMS is a comprehensive tool. It not only keeps a track of the complaints but also can classify them based on the pre-defined rules which are fed into it. It assigns, stores, and tracks unique complaint IDs. It is also programmed to define the “Target Turnaround Time (TATs) on all complaints and also keeps a record of it. It sets and sends alerts to the insurance companies regarding the pending tasks or if a complaint is about to exceed its assigned TAT.

    It also has the ability to automatically trigger actions based on the rules of workflow programmed into it. The IGMS is a way for the IRDA to know the needs and expectations of the policyholders in a better way. And as responsible consumers, it is our responsibility to make the best use of the IGMS by providing the right information about our complaints and co-operating with the Insurance companies and the IRDA.

    Related articles

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I
    Categories
    IRDA

    Functions of Insurance Regulatory and Development Authority

    Functions of Insurance Regulatory and Development Authority

    You trust your insurance companies for the safe-keeping of your future, the dearest of your people, and the most valuable assets of yours. It surely might have crossed your mind that who makes these insurance companies trustworthy? Who ensures that they keep up with your belief and expectations? Here’s something to answer these questions.

    It is the IRDA or the Insurance regulatory and development authority which works towards protecting the interests of the policyholders. It is the one that ensures that you don’t lose your hopes for a safe future.

    It sets rules, regulations, and guidelines for the working of insurance companies, agencies, and intermediaries. It controls the insurance industry in India. The IRDA also regulates the rates and other charges related to insurance.

    The sole objective of the IRDA is to ensure that the provision of the Insurance Act is enforced appropriately followed in a way that benefits the policyholders. There are various functions it performs to fulfil its objective and purpose of establishment.

    Let’s take a deeper look into the functions of Insurance regulatory and development authority.


    Functions of Insurance regulatory and development authority (IRDA)

    1. The first and foremost function of the IRDA is to protect the interests and secure fair treatment of the policyholders.
    2. Ensuring the growth of the industry is another most important function of the IRDA. While executing this function the authority has to keep in mind the benefits the growth will offer to the common man.
    3. Granting, Renewing, Modifying, Cancelling, or Withdrawing the IRDA certificates for the insurance companies.
    4. Laying down the code of conduct, the qualifications needed and the training to be given to the insurance agents.
    5. It also lays down the ways of working and the code of conduct for loss assessors and surveyors.
    6. Promoting fairness, transparency, and orderly conduct of the market players. It also helps create a reliable and high-standard management system to build a reputation of the insurance industry.
    7. Specifying the fees and charges for carrying out the functions of the authority.
    8. It undertakes inspections, audits, investigation, and calls for information of the insurance companies, intermediaries, and other companies related to the insurance industry.
    9. Another one of its very important functions is to take strict and immediate action against the companies that do not follow the guidelines. It also ensures to take stern measures against companies that are inadequate in enforcing the standards and measures as laid down by the authority.
    10. IRDA also decides and specifies the limits of rates that an insurance company can offer. It also looks after the advantages that the insurance companies provide.
    11. To look after the effective and speedy settlement of genuine claims. This helps in avoiding frauds and malpractices and in addressing the grievances of the policyholders.
    12. IRDA also makes sure that the insurance companies register themselves under it. This helps them to keep a check on the companies’ ways of working and standards.

    Along with all of these, one of the important functions of Insurance regulatory and development authority is to guarantee the policyholder that the best of their interests are being taken care of.

    Related articles

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I
    Categories
    IRDA

    Chairman of Insurance Regulatory and Development Authority (IRDA)

    Chairman of Insurance Regulatory and Development Authority

    In this article, let us give you some information about the current chairman of the Insurance Regulatory and Development Authority of India (IRDA). First, let us tell you about IRDA in simple words. IRDA or Insurance Regulatory and Development Authority of India is the regulatory body that supervises and governs the insurance sector in India.

    The primary purpose of IRDA is to protect the interest of the policyholders and ensure the development of insurance in India. IRDA oversees all life insurance, health insurance, and general insurance companies operating in India.

    About the Chairman of IRDA

    • Debasish Panda, former DFS Secretary, and a retired IAS officer have been approved by the Appointments Committee of the Cabinet, as the chairperson of the Insurance Regulatory and Development Authority of India (IRDA).
    • Shri Debasish Panda is appointed as the chairman of IRDA on the 14th of March 2022.
    • The Insurance Regulatory and Development Authority of India (IRDA) has appointed Mr. Debasish Panda for an initial period of three years to serve as chairman.

    Career of Debasish Panda

    • Mr. Debasish Panda is a IAS officer of the Uttar Pradesh cadre. Before being appointed as the chairman of the Insurance Regulatory and Development Authority of India, Mr. Panda served as secretary of the Department of Financial Services, Ministry of Finance, Government of India.
    • Mr. Debasish Panda also served on the board of various public sector banks and insurance companies. And was also on the board of directors of the Reserve Bank of India (RBI).
    • Mr. Panda also served as Special Secretary and Additional Secretary (Financial Services) at the Government of India.
    • Mr. Debasish Panda also served as a District Magistrate in Tehri, Deori, Uttarkashi & Ghaziabad District. He also was designated as the Principal Secretary ( Home & Vigilance ) and also held the position of dual charge of Resident Commissioner of Uttar Pradesh.
    • Mr. Panda also worked as Chief Executive Officer (CEO), of the Greater Noida Development Authority.

    Academic qualifications

    Following are the educational qualifications of Mr. Debasish Panda.

    • Mr. Debasish Panda is a master’s degree holder in Development Management. He also holds a Masters of Philosophy (M. Phil) degree in Environmental sciences.
    • Mr Debasish Panda has also gone through foreign training in Public Administration from The United States of America and Philippines.

    Former Chairman

    The former Chairman of the Insurance Regulatory and Development Authority was Dr. Subhash C. Khuntia. He took over the position in May, 2018 and his tenure is of three years from the date of joining.

    Dr. Subhash C. Khuntia has had a career of over 36 years in Civil services. He has worked as a Chief Secretary under the Government of Karnataka and previously he worked as the Secretary of School Education and Literacy under the central government of India in the ministry of Human Resource Development (HRD).

    His appointment as the Chairman was announced by the department of personnel and training after the Financial Sector Regulatory Appointment Search Committee (FSRASC) confirmed his candidature. In 1981, he was appointed to the Indian Administrative Service (IAS). Mr. Khuntia belonged to the Karnataka cadre. He has served in various departments under the government of Karnataka at various posts.

    Some of the departments he has served are, Departments of Finance, Revenue, Personnel, Urban Development, Rural Development, and Public works and ports. In addition to this, he has also served under the central government of India in numerous ministries. To name them he has served the ministry of finance, ministry of human resource development (HRD), and the ministry of Petroleum and Natural Gas.

    Dr. Subhash C. Khuntia, the Chairman of Insurance Regulatory and Development Authority is an alumnus of the India Institute of Technology (IIT), Kanpur. From IIT Kanpur he completed his post-graduation in Computer Science and Physics. Furthermore, he has a Ph.D. in economics and is a graduate in Law. He hails from the Jagatsinghpur district of Odisha.

    Dr. Subhash C. Khuntia succeeded the former Chairman of Insurance Regulatory and development authority, TS Vijayan who completed his tenure on February 20. Dr. Khuntia was nominated by the Financial Sector Regulatory Appointment Search Committee (FSRASC). The Financial Sector Regulatory Appointment Search Committee shortlisted eight candidates for the post out of which TS Vijayan was chosen.

    The other candidates nominated by the FSRASC included G. Srinivasan, the Chairman of New India Assurance Company; Insurance Corporation Chairman VK Sharma; Badri Singh Bhandari, whole-time director of the Pension Fund Regulatory and Development Authority; former corporate affairs secretary, Tapan Ray; Nilesh Sathe, a current IRDA member along with three managing directors of LIC. Before Dr. Khuntia and T.S. Vijayan, there were three previous chairmen IRDA had- S. Rangachary, C.S. Rao, and Hari Narayan. Ranghachary had a background in the Indian Revenue Service and the other two, C.S. Rao and Hari Narayan were from Indian Administrative Services.

    The position of the Chairman of IRDA is of high prestige, the Chairman is considered to be the head of the Insurance Regulatory and Development Authority which lies above all the insurance companies in India and regulates their working. This automatically makes the Chairman the regulator of all these companies too. As of now, there are 34 non-life insurance and 24 life insurance companies approved and working under the IRDA. This means that Dr. Khuntia is not only the head of one organization but also the regulator of all of the 58 companies working under the regulatory body.

    Related articles

    Experience the power of Artificial Intelligence (A.I)

    Chat with our super-intelligent A.I model and ask it anything about insurance and related products.

    Chat with A.I