Irda igms

I am making project report on the topic Insurance Regulatory and Development Authority of India (IRDAI) heard about the Integrated Grievance Management System (IGMS). Will you provide all details related to IRDA IGMS also provide List of some powers and functions?

[Rajkumar Agarwal]

Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body tasked with the regulation and promotion of the insurance and Re-insurance industries in India

IRDA has launched the Integrated Grievance Management System (IGMS).

Apart from creating a central repository of industry-wide insurance grievance data, IGMS is a grievance redress monitoring tool for IRDA.

IGMS provides a standard platform to all insurers to resolve policyholder grievances and provides IRDA with a tool to monitor the effectiveness of the grievance redress system of insurers.

IRDA IGMS login panel looks like:



List of some powers and functions:

issuing, renewal, modification, withdrawal, suspension or cancellation of registrations;
protection of the interests of the policy holders in matters concerning assigning of policy, nomination by policy holders, insurable interest, settlement of insurance claim, surrender value of policy and other terms and conditions of contracts of insurance;
specifying requisite qualifications, code of conduct and practical training for intermediary or insurance intermediaries and agents
specifying the code of conduct for surveyors and loss assessors;
promoting efficiency in the conduct of insurance business;

Contact:

Head Office :

Insurance Regulatory and Development Authority of India
3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004
Telangana State (INDIA )

Ph: (040) 23381100
Fax: (040) 6682 3334