At the outset, I extend my greetings to the public and prospects looking to learn about insurance and it is indeed a pleasure to reach out to all of you through IRDA’s exclusive Consumer Education website. Consumers today are faced with a variety of options and products in different areas of goods and services and insurance is no exception. Insurance is infact one of the most complicated areas in the financial sector with prospects finding it difficult to assess the various products available in the market in order to make the right choice. It is the need of the hour to demystify the concepts of insurance with a view to educating prospects and the public in general, about the option of insurance and understand what insurance really means and strives to do. The Consumer Education website of IRDA is a step in this direction. The IRDA is already working on the Hindi version of this website and we hope to be able to launch it as soon as possible. Our objective is also to enable this website in various other Indian languages so that we can reach out to as many individuals as possible in this vast country of ours.
The mandate of IRDA is not only to regulate the insurance sector keeping in view the interests of the policyholder but also to develop it. One of the functions we carry out with the development objective in mind is working towards improvement of Financial Literacy and Consumer Education in insurance in the country.
We have been receiving valuable feedback about the Consumer Education website and I would encourage you to continue to let us have your views. We are striving to constantly improve this website in terms of content as well as making it more and more user friendly.
With best wishes,
T. S. Vijayan
Insurance Regulatory and Development Authority
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