A premium on execution: Meet Debasish Panda, chairman of Irdai

At the DFS, Panda, 60, created a group of officials to monitor speedier claim settlements for deaths due to Covid-19

When the Covid-19 pandemic ravaged India, insurance companies were delaying and even denying claims, including cashless health insurance ones. The government stepped in, and asked them to clear claim settlements under the Pradhan Mantri Garib Kalyan Package (PMGKP) Insurance Scheme for health workers, as well as the Centre’s flagship insurance schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).

The bureaucrat leading these consultations with the Insurance Regulatory and Development Authority of India (IRDAI) was Debasish Panda, secretary, Department of Financial Services (DFS) under the finance ministry. Afterwards, insurers created a framework that processed claims