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  • Impact of IRDA Guidelines o...
    Khera, Shikha; Divya

    Jindal journal of business research, 12/2020, Volume: 9, Issue: 2
    Journal Article

    This study has been undertaken in order to estimate the impact on IRDA guidelines on customer satisfaction in the life insurance sector from the time of its inception in 1999 to the IRDA Amendment (The Insurance Laws Act) of 2015. In order to accomplish the research aim and objectives appropriately, a thematic framework has been implemented that aspires to conduct quantitative analysis of the primary data collected in relation to the research topic through questionnaire-based survey. Further, comparative survey of customer confidence on IRDA guidelines pertaining to pre- and post-IRDA regulation 2017 has been made in the study. The study findings confirm that IRDA guidelines, that is, transparent and make clear specifications on aggressive online selling by insurance companies, provide outsourcing guideline for them, direct the customers on timely settlement of claims without delay, and are abided by the mandate of Government of India to link PAN and Aadhaar card of the consumers to their policies show significantly positive impact on consumer confidence. Simply put, there is significant increase in confidence post-2015 Amendment Act.