The Insurance Regulatory and Development Authority of India (IRDAI) has reshaped its key advisory panel, bringing in a mix of industry leaders, policy experts and academics. The move is aimed at strengthening how decisions are guided in India’s fast-evolving insurance sector.
In a notification issued on March 12, 2026, it was mentioned, “In exercise of the powers conferred by sub-section (1) of Section 25 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), and in terms of Regulation 3A of the Insurance Regulatory and Development Authority (Insurance Advisory Committee) Regulations, 2000, the Authority hereby makes the following notification reconstituting the Insurance Advisory Committee which will be effective from the date of publication in the official gazette.”
The committee plays an important role in advising IRDAI on regulatory matters, sector development and policy decisions.
REPRESENTATION FROM ACROSS SECTORS
The reconstituted panel includes several key institutional representatives. These include members from the Life Insurance Council and the General Insurance Council, along with heads of important professional bodies.
Ex-officio members include representatives from the Institute of Actuaries of India, the Insurance Brokers’ Association of India and the Indian Institute of Insurance Surveyors and Loss Assessors. The director of the National Insurance Academy is also part of the panel.
INDUSTRY LEADERS AND EXPERTS JOIN
Alongside institutional members, the committee includes a wide range of professionals from business, policy and research backgrounds.
Among them are Chandrajit Banerjee from the Confederation of Indian Industry, Jyoti Vij from the Federation of Indian Chambers of Commerce and Industry, and Saurabh Sanyal from the Associated Chambers of Commerce and Industry of India.
The list also includes Ajay Sahai of the Federation of Indian Export Organisations, noted agricultural economist Ashok Gulati from the Indian Council for Research on International Economic Relations, and Charan Singh.
Other members include Suresh Goyal of the National Council of Applied Economic Research, former National Health Authority CEO Indu Bhushan, financial writer Monika Halan, former National Securities Depository Limited MD Padmaja Chunduru, Partha Ray from the National Institute of Bank Management, and Sahil Barua of Delhivery.
WHY THE COMMITTEE MATTERS
The Insurance Advisory Committee acts as a sounding board for the regulator. It brings together voices from across industries to help shape rules, improve market practices and guide long-term growth of the insurance sector.
With a broader mix of members this time, the panel is expected to bring more diverse views to the table as the sector deals with new challenges and opportunities.
