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Stay Compliant with IRDAI Regulations

IRDAI Compliance Services

Make sure you have regulatory confidence, transparency of operations and secure insurance operations with us and IRAI compliance solutions.

The Insurance regulatory development authority of India (IRDAI) has stringent regulatory measures that govern the insurance industry. We assist the insurers, intermediaries, TPA, and insurance services providers to achieve the regulatory mandates in IRDAI with a breeze at KavachOne, whether it is documentation assistance, test audits, risk and vulnerability analysis, cybersecurity, and the various aspects of compliance management.

What is IRDAI Compliance?

The IRDAI compliance assures that the insurance companies and intermediaries adhere to the standards, regulations and guidelines provided by the IRDAI. These rules are meant to ensure policyholders are safeguarded, transparency, good governance, and ethical operations in the insurance ecosystem.

The compliance revolves around several fields that include:

Corporate governance and reporting
Protective measures of datas in the cyberspace
Complaints processes among policyholders
Outsourcing oversight
Risk management systems
Reinsurance, solvency norms and investment
Rules of product filing and approval

Who Needs IRDAI Compliance?

Our IRDAI compliance solutions are targeted at:

Life, Health, General Insurance Companies

Insurance Brokers and Web Aggregators

Corporate Agents and Micro Agents

Third-Party Administrators (TPAs)

Insurance Marketing Firms

InsurTech Startups

Reinsurance Brokers

Surveyors & Loss Assessors

Our IRDAI Compliance Solutions

1.IRDAI Regulatory Documentation Support

We help in developing and revising all documents necessary to comply with IRDAI including:

Board-approved policies
Internal audit reports
Outsourcing policy
Security policy of information
Risk management & governance documents
Grievance redressal scheme
Business continuity policies

2.IRDAI Cyber and Data Protection Compliance (Mandatory)

The insurance organisations are obliged to adhere to the IRDAI Information and Cybersecurity Guidelines. We help with:

Development of policies on cybersecurity
Gap analysis & risk assessment
Network security testing (VAPT)
Data protection assessment
Compliance with DPDP Act
Breach response readiness and incident reporting

3.Gap Assessment, IRDAI Internal Audit

We do a full preparedness test to find compliance weaknesses in:

Regulatory reporting
Corporate governance
Norms of policyholder protection
Grievance redressal
Distribution governance Sales
Outsourcing and vendor compliance

4.IRDAI Filing and Reporting Services

We assist organizations to stay in a steady state of compliance by:

Regular returns & regulatory filings
Documentation Product filing
Audit coordination
Management of compliance calendar
MIS & reporting templates

5.Vendor Compliance Support Outsourcing

IRDAI needs excellent control over third-party vendors. We help you implement:

Vendor risk assessments
Due diligence checklists
SLAs, governance structure & compliance clauses
monitoring and audit mechanisms

6.Training and Awareness (ISO + IRDAI)

We organize insurance team specialized training programs:

Awareness of information security
Specific compliance training by IRDAI
Training Data protection and DPDP Act
Internal auditor training
Process and document training

Benefits of IRDAI Compliance

Stronger Regulatory Confidence

Gives your organization an added security that you are completely working within the guidelines of IRDAI, less chance of receiving punishments, notices, or actions of the regulator.

Improved On-site Data Security and Cyber Protection

Cybersecurity and data protection is in compliance with the requirements of IRDAI, and it will help boost your protection against breaches and financial fraud.

Better Governance and Accountability

Facilitates strict rule of governance, integrity in business and organized decision-making within departments.

More Policyholder Trust

Shows that your organization serves the interests of customers - enhances credibility, and customer retention is increased.

Fewer Operational and Compliance Risks

Reduces non compliance, process failures, and risk exposures by means of documented policies, controls and periodic audits.

Efficiency and Smoother Processes

Assist in streamlining internal operations, reporting system and vendor management resulting in a smoother operation.

Greater Business Continuity

The compliance of BCP and risk management will make sure that your business will be resilient even in cases of discontinuity or system failure.

Improved Vendor and Outsourcing Governance

Eliminates liability and improves quality of services by ensuring that third-party vendors comply with the IRDAI requirements.

Faster Audit Readiness

Regulatory audit is predictable, efficient, and stress-free with documentation and the implementation of control.

The Insurance Industry Competitive Advantage

Being IRDAI-compliant makes your organization an unaffected, secure and customer-oriented insurance provider or intermediary.

Why KavachOne to be IRDAI Compliant?

1

Experience in insurance regulation compliance

2

Certified auditor and cybersecurity professional support

3

End-to-end support — paperwork to audit

4

Tested methodologies as per guidelines of IRDAI

5

Essentialized compliance structure on a case-by-case basis

6

High emphasis on security, governance & risk mitigation

Get Started with IRDAI Compliance

Be compliant, achieve trust, and secure your policy holders through the full IRDAI compliance solutions of KavachOne.

Get your IRDAI compliance assessment by booking a consultation today.