IRDAI Chairman and Other Industry Leaders Outline Roadmap to Accelerate 'Insurance for All in India'

New Delhi, 5th November 2026: Leaders from India's financial, regulatory and technology sectors outlined how the country's scale, digital capabilities and institutional reach can advance Insurance for All by 2047.

Jointly organised by the US-India Strategic Partnership Forum and PNB MetLife, the event featured remarks by Mr. Michel Khalaf, President and CEO, MetLife, Inc., and Mr. Ajay Seth, Chairman, IRDAI. Its centrepiece was the panel discussion, "India 2047: The Future of Insurance, Innovation and Inclusion".

The discussion focused on turning India's insurance potential into broader coverage and better customer outcomes. Priorities included closing protection gaps, strengthening trust and transparency, improving value, reducing costs and applying global capabilities in retirement, technology and AI, with leaders highlighting AI's potential to personalise solutions by life stage, enable more proactive engagement and strengthen the customer experience across the insurance journey.

Mr. Ajay Seth, Chairman, IRDAI, said, "India's insurance progress must be measured not only by policies or premiums, but by lives covered and the adequacy of protection. A trusted, transparent and efficient ecosystem—supported by digital public infrastructure, enabling regulation, responsible innovation and fair competition—can deliver greater value and accelerate Insurance for All."

Mr. Michel Khalaf, President and CEO, MetLife, Inc., said, "India is an important growth market for MetLife where we see significant long-term opportunity. Our first 25 years in India have built strong foundations for the future. This gives us the confidence to accelerate our growth and contribute meaningfully to India's Insurance for All vision by 2047. Technology will be a force multiplier—expanding access, personalising solutions, improving customer experience and helping close protection gaps."

Mr. Ashok Chandra, Managing Director and CEO, Punjab National Bank, said, "Banking has shown what trust, digital infrastructure and mission-led execution can achieve at scale. Insurance must build on that foundation with solutions tailored to distinct customer needs. Combining AI-led intelligence, digital reach and human trust can take protection much deeper into the country."

The discussion concluded that India's scale, institutional reach and digital foundations create a powerful opportunity to accelerate Insurance for All over the next five years.

User :- Prachi Baliyan

Email :-prachi.baliyan@veritasreputation.com