Soon after ADBI-IRDAI Roundtable on Insurance and Retirement Savings in Asia (May 2023) which was held on 24-25 May at Hyderabad, Mr Leigh Wolfrom, Policy Analyst, Directorate for Financial and Enterprise Affairs, OECD visited General Insurance Council office to hold discussions with non-life member companies on 29-30 May 2023. The discussions focused on three lines of business in particular – property/fire, health, and cyber insurance.

OECD is working with IRDAI on a project on leveraging technology for risk assessment and risk reduction. The project is focused on how insurers are applying new data sources, analytical tools (e.g., artificial intelligence) and policyholder engagement mechanisms (such as smartphone apps) to improve underwriting assessment/pricing and support policyholder risk reduction.

The meeting was attended by Mr Leigh Wolfrom, and representatives from Bajaj Allianz, GIC Re, New India Assurance Co Ltd, ICICI Lombard, TATA AIG General Insurance, Shriram General Insurance, Care Health Insurance and HDFC Ergo. From GI Council Mr Shailendra Sinha coordinated the meeting.