Need for Consumer Education in Insurance sector

Thanks Mr. Hari for raising concerns on lack of knowledge, information and above all, misunderstanding on various aspects of insurance sector, insurance law and coverage as also addressing them in your own way to guide the stake holders.

To begin with, instead of posting individual notes, we can consider a common social media platform of insurance experts, consultants, legal enthusiasts and others to guide the stake holders on various such issues and also share updates to create awareness and promote deep understanding of insurance sector. 

Secondly, IRDAI can consider “Consumer Education & Protection Fund” on the lines of TRAI Regulations, 2007.   The fund is created for seminars, workshops, developing educational and awareness material, dissemination of information to the consumers with the participation of consumer groups representations and other stake holders.    The activities are planned and conducted by a Committee.