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Regulatory changes may bring new dawn for insurers: BFSI Summit panelists

Globally, insurance is moving to a risk management and a risk service business. India also has to do the same

(L to R) Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance Company;  Rakesh  Jain, ED & CEO,  Reliance General Insurance; Ritesh Kumar, MD & CEO, HDFC Ergo; Anup Rau, MD & CEO, Future General India Insurance Company (Photo: Kamlesh Pednekar
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(L to R) Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance Company; Rakesh Jain, ED & CEO, Reliance General Insurance; Ritesh Kumar, MD & CEO, HDFC Ergo; Anup Rau, MD & CEO, Future General India Insurance Company (Photo: Kamlesh Pednekar

Subrata Panda
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.

“For the first time in 20 years, we are seeing a lot of initiatives from the Centre and the regulator in terms of addressing the need gap. This, we believe, is a huge positive in the long-term perspective. The entire approach to