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Economy·

IRDAI Seeks Data from Insurers for Index of Service Production

Read original on The Hindu - Business ↗

Summary

  • IRDAI has asked insurers to submit data on premium, claims, and investments for the Insurance Service Provider (ISP) segment.
  • The data is required to facilitate the Union Ministry of Statistics and Programme Implementation's needs.
  • The data will be used in the preparation of the Index of Service Production.

Key Facts

  • · IRDAI is the regulatory body for the insurance sector in India.
  • · Index of Service Production is a statistical measure.
  • · The Union Ministry of Statistics and Programme Implementation is responsible for the index.

Why it matters

The data collection will help in assessing the performance of the insurance sector and its contribution to the overall service production in the country.

#IRDAI#Insurance#Index of Service Production#Statistics#Economy