IRDA organized seminars for mass awareness

By Policybachat . Posted on November 5, 2014


IRDA has been constituted as a sovereign body to control and develop insurance sector in India.  It came into existence in 1999 and was commissioned as statutory body in 2000.  Since then it is committed in regulating insurance policies and safeguarding customer’s interest in an insurance agreement.

In these years, IRDA took additional responsibilities of educating mass about insurance, its benefits, claim procedure, complaint redress process etc. for ensuring that people of India get closer to insurance industry, which have a poor market penetration till now.  

In past 5-10 years insurance sector has been experiencing a sound rising graph, mainly due to privatization.  Majority of people still choose insurance as an investment option and therefore, prefer for life insurance, which give them dividends in future.

Every year, IRDA organize seminars on various insurance topics, where it promotes participation of individuals, concerned business in the locality and local administrative authorities to come forward and have their say.  In year 2012-13, IRDA organized various seminars across the country in various cities.

  • Seminar on “Life insurance” organized by M/s Consumer Guidance Society on August 26, 2012 at Vijayawada, Andhra Pradesh. More than 100 participants including local consumer bodies, RTI activists, lawyers from various district and states attended this seminar.
  • Seminar on “Motor and Life insurance” organized by Mizoram Consumer Union on September 12, 2012 at Aizawl, Mizoram. Total attendees of this seminar were nearly 180. Mizoram consumer Union tried to involve people from various fields including students.
  • Seminar on “Heath insurance” conducted by M/s Consumer Association of India (CAI) on September 29, 2012 at Chennai. Participants included students and policyholder handbooks printed in English/Tamil were distributed among all participants.
  • Seminar on “Role of Insurance Intermediaries” organized by M/s Citizens Awareness Group (CAG) on October 28, 2012 at Chandigarh.
  • Seminar on “Life and General Insurance” conducted by M/s Samarpit – Centre for poverty alleviation & Social Search, on December 7, 2012 at Bilaspur, Chattisgarh. Seminar was mostly attended by local person and self-help Groups/Consumer bodies.
  • Seminar on “Consumer education – Key for insurance policyholders” managed by M/s Consumers Association, on December 28, 2012 at Palakkad Kerala. Most attendees were local consumer bodies and reps of NGOs.
  • Seminar on “Micro Insurance” organized by M/s Harijan Adavasi Mahila Kalyan Samiti on January 28, 2013 at Munger, Bihar. Total participants were nearly 130 and included members from Kisan clubs, Panchayati Raj and female members of SHGs.
  • Seminar on “Insurance needs and requirements for day to day life”, by M/s Sanchayan on February 26, 2013 at Ranchi, Jharkhand. Many NGOs participated in this seminar also invited IRDA to organize such seminars in their locality for mass awareness.

IDRA has been educating people about importance and benefits of insurance policies.  However, insurance policy terms are not understood by every individual, therefore, you can call PolicyBachat and talk to insurance experts with regards to your insurance related queries.



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