MUMBAI: The insurance regulator has directed insurers to realign how senior executives are evaluated and paid, linking performance more closely to customer outcomes, transparency, and governance, under a revised framework issued through a circular dated May 25.

In a significant policyholder-centric move, IRDAI has linked insurance executive pay to customer-centric metrics like claim settlement and grievance redressal. Insurers must now…

The Insurance Regulatory and Development Authority of India (Irdai) has made amendments to the IRDAI (Corporate Governance for Insurers) Regulations, 2024.

The move is part of new KMP performance evaluation rules, under which the regulator has made 50% of key performance indicators (KPIs) mandatory and far more prescriptive than…