FM Sitharaman Asks PSU General Insurers to Innovate
Why in the news
The minister pushed state-run general insurers to modernise.
| Theme | Instruction |
|---|---|
| Innovation | New products for emerging risks; diversify portfolio |
| Underwriting | Combined ratios at global benchmarks; portfolio optimisation |
| Service | Prompt grievance redress; stronger social media presence |
| Digital | Account Aggregator link, end-to-end digital KYC |
| Partnerships | Intermediaries, fintechs, insurtechs |
Aim
Broader service access, wider market reach and deeper insurance penetration across demographics; the meeting also aimed at customer satisfaction and financial resilience.
Exam angle
- Body: PSGICs.
- Ratio: combined ratio.