The Insurance Regulatory and Development Authority (IRDA) was established in 2000 as an autonomous body to regulate and promote the insurance and reinsurance sectors in India. Its primary goals are to enhance market efficiency and protect consumers, with a governing body appointed by the Government of India. The IRDA's framework includes various stakeholders, duties such as registration and consumer protection, and oversees both public and private insurance entities.

1. PRESENTATION ON INSURANCE
REGULATORY & DEVELOPMENT
AUTHORITY
PRESENTED TO:
MANAGEMENT DEPARTMENT
PRESENTED BY:
REKHA RANI
MBA (3rd Sem.)
CT INSTITUTE OF MANAGEMENT AND
INFORMATION TECHNOLOGY , JALANDHAR

2. HISTORY
 IRDA was setup in 2000 as an
autonomous body to regulate
and develop the business of
insurance and reinsurance in
the country as per the insurance
regulatory and development
authority act,1999.
 The main objective of setting
up IRDA was to promote
market efficiency & ensure
consumer protection.

3. MISSION

4. COMPOSITION OF AUTHORITY
IRDA is the controlling and
regulatory apex body in the
country for insurance sector and
its chairman and members are
appointed by Government of
India. IRDA’s HQ is located at
Hyderabad.
The Authority is a ten member
team of
I. a Chairman;
II. five whole-time members;
III. four part-time members,
(all appointed by the
Government of India)

5. DUTIES / POWERS / FUNCTIONS
Registration
Protection
Code of conduct
Efficiency
Information
Terms of business
Books of accounts

6. IRDA’S REGULATORY FRAMEWORK
IRDA
Insurance
Companies
Agents
Insurance Advisory
committee
Insurance
ombudsman
Tariff Advisory
committee
Insurance
associations/
insurance councils
Insurance brokers
Surveyors and loss
assessors
Third party
administrators

7. INSURERS UNDER IRDA
Type of
Business
Public
Sector
Private
Sector
Total
Life Insurance 1 23 24
General
Insurance
6 21 27
Re-insurance 1 0 1
Total 8 44 52

8. INSURANCE NEEDS IN DAY-TO- DAY
LIFE

9. PROVIDING THE RIGHT
PROTECTION