Which institution has launched the 'Insurance for all by 2047' mission?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI), the regulator of the insurance sector, launched the mission ‘Insurance for All by 2047’. Its aim is that every citizen has suitable life, health and property insurance, and every business suitable insurance cover, by 2047, the hundredth year of India’s independence. To reach it, IRDAI has backed steps such as the Bima Sugam online insurance marketplace.