)
IIB gathers transaction level data of policies and claims under health, motor and other lines of insurance business and generates reports on the basis of the analysis of the collected data for the perusal of the Insurance Regulatory and Development Authority (Irda).
“In view of the advancement and sophistication achieved by KIDI in the field of analytics and the help they can render to IIB to facilitate speedy development, a continued relationship and knowledge-sharing was proposed and agreed by both the side,” Irda said in a press release.
KIDI is a front runner among the rate-making organisations in Asia and plays a significant role in Insurance information and Ratemaking Forum of Asia , the insurance regulator said.
