With the deadline for new product bouquets merely 15 days away, life insurance companies are leaving no stone unturned in ensuring their products are out in the market on time. In February this year, the Insurance Regulatory and Development Authority (Irda) had brought out traditional product guidelines that mandated life insurers to be complaint with the new norms by October 1. Their existing products are being re-filed with the regulator.
Rajesh Relan, managing director and country manager, PNB MetLife India, said after re-filing, there were multiple rounds of communications and clarifications between the company and the regulator. He added after securing an approval, companies would have to train their sales teams and start marketing-related activities.
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