Report

Recalibrating Distribution Economics to Widen Insurance Coverage

IRDAI's September 2026 consultation paper proposes the biggest reset of insurance distribution economics in years. It responds to a real problem: since the 2023 deregulation, distributor pay has risen 4 to 5 times faster than premium and concentrated in the channels that control the point of sale, with little gain to the customer. Expense ratios have climbed to 16% in life and 31% in general insurance, above the levels the reform now targets, while the number of people covered has barely moved.

BFSI

India • Oct 29, 2026