Insurers must compete on price, not distributor commission: Irdai chief

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Irdai Chairman Ajay Seth says proposed insurance distribution reforms are not final and stakeholder feedback will be considered before draft regulations are issued

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Irdai Chairman Ajay Seth said the proposals were not final and stakeholder feedback would be considered if backed by sound economic or business logic and policyholder interests

Aathira Varier Mumbai

8 min read

Last Updated :

Sep 30 2026 | 12:21 AM

IST

A week after the Insurance Regulatory and Development Authority of India (Irdai) proposed sweeping changes to insurance distribution norms, Chairman Ajay Seth said the proposals were not final and stakeholder feedback would be considered if backed by sound economic or business logic and policyholder interests. In an email interview with Aathira Varier, Seth said the proposed reforms would be monitored on insurance growth, affordability, distribution reach, and policyholder experience. Edited excerpts:

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