Suresh Mathur Committee

• 29 Apr 2019

Why is it in News?

IRDAI (Insurance Regulatory & Development Authority) has formed a panel under Dr. Suresh Mathur to look into the Microinsurance Framework.

About the Committee:

IRDAI has constituted a 13 member committee under IRDAI Executive Chairman Dr. Suresh Mathur to look into the regulatory framework of microinsurance and recommend measures to boost the demand of such microinsurances.

Composition of the Committee:

It will have members from IRDAI, insurers’ representatives from life, general and health insurance companies in the public and private sectors, NGOs etc.

What will this Committee do?

The 13-member panel has been tasked with suggesting product designs with customer-friendly underwriting, including easy premium payment methods and simple claims settlement procedures. It will also look into the Microinsurance Framework within India and abroad and suggest the changes that can be incorporated.