IRDA chairman, CS Rao, to inaugurate IBAI convention today

Mumbai, Sep 18 (UNI) Chairman of Insurance Regulatory Development Authority of India (IRDA), C S Rao, will inaugurate the third national convention of the Insurance Brokers Association of India (IBAI) here tomorrow.

IBAI chairman Bharat J Boda, told UNI here today that the country's insurance industry was poised for a tremendous growth with the anticipated detariffing which was likely to come into effect from January 1 next year. Once detariffing comes into force the insurance company will enjoy the autonomy of determining the price of their products.

The other issues that would be discussed during the convention includes the role of a broker in life and non-life insurance busineses, reinsurance and others.

Some of the speakers that are likely to address the convention include Dr K C Mishra, director, National Institute of Insurance, Pune; Chandrasekhar, GM, General Insurance Company; Dilip Verma, MD, Tata AIG and others. The total number of members registered on the IBAI, which is the only recognised association in the country licensed by Insurance Regulatory and Development Authority of India (IRDA), is 228.

Commenting on the launch of the portal 'Premia IBX' by 3i Infotech, announcement for which was made during a media briefing here today and which would be introduced during the IBAI convention tomorrow, Mr Boda said that it will go a long way in creating a virtual market place for insurers, insured and the intermediatries at the click of a button.

UNI KKD WD AG1930