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Insurance Lokpal Day: IRDAI Chief Stresses Trust

13 November 20251 min read
BANKING & FINANCEInsurance LokpalDay: IRDAI ChiefStresses Trust13 November 2025safalsetu.com

Why in the news

At the first Insurance Lokpal Day (11 November 2025), IRDAI Chairman Ajay Seth said insurers must earn public confidence through openness and responsible conduct.

Bima Bharosa

  • IRDAI’s integrated online grievance system covering all insurers.
  • Customers file life, health or general insurance complaints and follow progress online.
  • Linked to insurers’ grievance officers; IRDAI monitors response times and resolution rates.

Bima Lokpal (Insurance Ombudsman)

  • Quasi-judicial body giving free, impartial dispute resolution when the insurer’s reply fails the policyholder.
  • Basis: Redressal of Public Grievances Rules, 1998; supervised by IRDAI.
  • Handles delayed claims, cancellations, wrongful rejections and missing documents; an alternative to courts.

Vision 2047

  • Everyone and every enterprise insured by 2047, with focus on rural and semi-urban inclusion.
  • Tools: micro-insurance agents, digital channels, cooperatives, consumer awareness, and the Bima Vahaks and Bima Vistaar initiatives.

Exam angle

  • IRDAI chairman: Ajay Seth.
  • Grievance portal: Bima Bharosa.

Test yourself

1. Which IRDAI platform lets policyholders register and track insurance complaints online across insurers?

Bima Bharosa is IRDAI's integrated grievance redressal system.

2. The Bima Lokpal (Insurance Ombudsman) was established under which rules?

The notes cite the Redressal of Public Grievances Rules, 1998.

3. IRDAI's Vision 2047 'Insurance for All' targets insurance cover for every citizen and enterprise by which year?

The vision aims at coverage by 2047.

This topic is part of Daily Current Affairs 11 & 12 November 2025 (14 topics).

All topics of the dayDay quizNovember 2025

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