1. BIG
BUSINESS IMPACT GROUP

2.  You will be able to explain the customer
about power of IRDA.
 Explain how much their money is safe with
the private company.

3.  Customers says : Is my money safe in private
insurance companies ?

4.  Insurance Regulatory and Development
Authority.
 It is corporate body established for the
purpose of regulating, promotion and ensure
orderly growth of the business and
reinsurance business in India.

5.  IRDA was constituted by act of parliament.
 The section 4 of IRDA act specifies the
composition Authority.
 The Authority is ten members team
appointed by government of India

6.  To start life and run insurance company
which is given by IRDA.
 It is not an easy to get life insurance licence

7.  The company has to deposit 100 cr deposit
which is non refundable.
 5 years of Financial records of promoters
company.
 Records of performance of directors.
 All investments has to be according to IRDA
guidelines to safe guard the interest of policy
holders.

8.  All investments has to be according to IRDA
guidelines to safe guard the interest of policy
holders.
 IRDA have set guidelines to investment
money.
 IRDA have provided the list of approved
investments.

9.  All insurance companies need to submit on
their investments and their investment
performance on every Quaterly,halfyearly
and yearly.
 No investment should be made outside the
country.

10.  Statement of Investment and income on
investment.
 Exposure norms.
 Statement of investment subject to norms.

11.  Before launching any product in the market
it has to be approved by product committee
of IRDA which is consist of product specialist
i.e actuaries.
 IRDA has detailed guide line for the product
check.
 The companies has to submit the detailed
report of working that how the product has
been desgin,how this product will benefit
people of India and the insurance company.

12.  Solvency margin is the extra capital which is
required to meet the uncertain claim.
 To make sure that solvency margin guideline
is followed the company has to appoint an
EXTERNAL AUDITOR.
 The auditor has to submit his independent
report to IRDA.

13.  Grievance system
 Ombusedman

14.  Only sound financial companies are allowed
to do insurance business in India.
 All investment done by insurance companies
are done according to IRDA guidelines.
 Product approved by IRDA is only launched in
the market.
 Grievance system