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Centre Point: Commission Cap Puts Insurance Under Scanner


Centre Point, hosted by Surabhi Upadhyay, breaks down IRDAI’s proposed overhaul of how insurance is sold in India. The regulator is looking to cap insurance commissions, which currently run as high as 80-90% of premium value in some policies, while also cracking down on the compulsory sale of insurance with loans and on “dark patterns” used by online insurance sellers to extract personal information before disclosing policy features and pricing. The proposal triggered a sharp selloff in financial stocks on Thursday, hitting insurers, banks, and NBFCs that earn a significant share of their income from insurance commissions and fees. With industry stakeholders given time till October 25 to submit their views, the show examines the road ahead: how mis-selling and malpractices can be curbed without destabilising insurers, and whether the industry can find a path to growth that also rebuilds consumer trust. Joining the discussion are Nilesh Sathe, former Member of IRDAI; Ashish Modani, Senior Vice President and Group Head – Financial Ratings, ICRA Ltd; and Indraneel Chatterjee, COO and Co-Founder, Insurance Dekho.