https://www.taxtmi.com/news?id=12694 Public sector insurers were instructed to prevent further market share loss and to improve their market position. Persistency concerns were noted for later years of life policies, requiring separate study for ULIP and non ULIP products. Operational outreach via micro offices should expand to increase penetration. Priority measures include settling motor third party claims through Lok Adalats with State Legal Services coordination, IRDA review of mandatory motor third party insurance and multi year policies, establishing institutional mechanisms and statutory bases for insurance fraud investigation and prosecution, and creating IRDA standard templates for rapid product launch on a use and file basis. en-us Mon, 12 May 2014 18:47:03 +0530 Mon, 12 May 2014 18:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=12694 Public sector insurers were instructed to prevent further market share loss and to improve their market position. Persistency concerns were noted for later years of life policies, requiring separate study for ULIP and non ULIP products. Operational outreach via micro offices should expand to increase penetration. Priority measures include settling motor third party claims through Lok Adalats with State Legal Services coordination, IRDA review of mandatory motor third party insurance and multi year policies, establishing institutional mechanisms and statutory bases for insurance fraud investigation and prosecution, and creating IRDA standard templates for rapid product launch on a use and file basis. News - Mon, 12 May 2014 18:47:03 +0530 https://www.taxtmi.com/news?id=12694