policy information

Irdai Chief Ajay Seth Flags Insurers' Data Requests as 'Dark Pattern,' Orders Nine-Month Study

Irdai chairman Ajay Seth has flagged insurers' practice of collecting personal information to provide policy quotes as a 'dark pattern', and commissioned a nine-month study by the Institute of Public Policy to define and track such practices. Speaking at a Life Insurance Council event, Seth also advocated measuring insurance penetration by number of people covered rather than premium as a share of GDP, and shifted the regulator's stance on listing, stating it should be driven by capital needs not transparency.