General insurers want to use products before filing them

General insurers in India are planning to break free from the custom of filing a product and then selling it to big corporates, as that cripples the freedom to tailor a product that would suit a company. The General Insurance Council, a representative body of non-life insurers, including Reliance General and ICICI Lombard, is working with Insurance Regulatory and Development Authority (Irda) to ensure the hassle of filing and re-filing is done away with, and the practice does not lead to dubious sales pitch that may come back to haunt them.

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