Irdai’s distribution overhaul: Will it make insurance cheaper, curb mis-selling?
“People genuinely want insurance, but are scared. Make them trust insurance by consistently delivering on promises, improving reputation, and people will flock to buy. Once people flock, agents will happily reduce commissions. With reduced commissions, no one sells too. It will result in degrowth in the insurance space — lower pool, thus higher premiums,” said Mahavir Chopra, founder, Beshak.org.