The Insurance Regulatory & Development Authority (Irda) on Friday said it will ask insurance companies to announce quarterly disclosures and will talk to consultancy firm Deloitte to come up with a format for the same.
Irda member for finance and investment RK Nair said the regulator will ask Deloitte to come up with the format and the content of disclosures which the industry players will have to comply with. “The work will start in this month itself,” Nair said on the sidelines of an insurance summit organised by the Indian Chamber of Commerce in Kolkata on Friday.
Referring to the IPO guidelines that Irda drafted for insurers, Nair said those have already been sent to Sebi. “But Sebi is yet to revert to us,” he added.
Nair said the watchdog is also working on merger and acquisition guidelines for the the industry.
He further said the Irda has agreed to allow insurers to invest in the proposed bonds issue of Indian Infrastructure Finance Company.
In another development, Irda said it has selected Sparsh BPO Services for providing call centre services to handle grievances of customers.
“Based on detailed scrutiny of the commercial proposals submitted by the shortlisted BPO firms, Sparsh BPO Services has been selected as an implementing agency for setting up of Irda Grievance Call Centre,” Irda said in a statement.
Earlier, IRDA had shortlisted three entities for the grievance call centre.