The Insurance Regulatory and Development Authority (IRDAI) monitors and supervises the development of India's insurance sector as established by parliament. IRDAI aims to promote growth, integrity, transparency, and consumer protection in the sector. The government has taken steps to accelerate expansion, including launching a pension scheme offering 8% returns over 10 years and redesigning IPO guidelines for insurance companies. The document advocates for increased public outreach and awareness efforts to support further growth in India's important and rapidly developing insurance industry.

1. Role of Government in the Insurance Sector
The insurance industry in India is one of the leading sectors that has immense potential in itself and once
the sector reaches out to the people with better outreach, the industry will have a lot to offer for the
development of better health care facilities.
Insurance Regulatory and Development Authority is the body that is passed and formed by the honorable
parliament of India and this is the body that is supposed to monitor and supervise the development of
this sector.
The insurance act passed by the government provides the authority to the IRDAI to formulate the policies
for the welfare and enhancement of this sector.
IRDAI is the supreme body that takes care of this sector and following are the major points that the body
commits to considering.
1. To incorporate and ensure the periodic growth of the insurance sector in India.
2. To promote and monitor the highest standard of financial security, and integrity of the sector.
3. To protect the interest of the policyholders.
4. To ensure that the claims are well settled and that too in a limited span of time.
5. To promote the transparency of the transactions that happen within the sector.
6. Day to day and regular monitoring of the sector.

2. The government of India has taken significant steps towards accelerating the expansion of this sector and
the results of these efforts are also omnipresent.
1. The government of India has launched a pension scheme that will provide the 8 % return to all
the senior citizens for a policy duration of 10 years.
2. The IRDAI plans to issue the redesigned initial public offering guidelines for the insurance
companies in India.
It is for sure that this sector is booming and in the coming time, we will get to see the best of this sector
once the outreach is enhanced further. The sector is expected to rise by 4 times in the next 10 years which
will be a great achievement of the sector.
Medimanage health insurance understands the importance of this sector and hence, a great emphasis is
given to the efforts and awareness programs to increase the interest of the common people in this sector.
The team at Medimanage is extremely helpful and proficient in their job. They are trained in a way that
allows them to work to help the people in all their impediments and as a result of which, there are a
plethora of happy and satisfied clients who praise the standards of the services and the policies offered
to them through this institution.