IRDAI panel to revisit insurance marketing rules

The committee is also tasked with providing recommendations on how best to strengthen the insurance marketing firms' channel

A committee has been constituted to review the regulations governing insurance marketing firms and make necessary recommendations. 

The concept of insurance marketing firms was introduced by the Insurance Regulatory and Development Authority of India (IRDAI) in 2015 to improve insurance penetration in the country through an area-specific approach. 

Insurance marketing firms are allowed to solicit or procure insurance products, undertake insurance service activities and distribute other financial products. The concept was introduced based on the recommendations of the Govardhan Committee, which submitted its report in 2007. Insurance marketing firms can sell mutual funds, pension products, banking services and non-banking financial products. The