IRDAI Regulatory Sandbox Overview
Regulators throughout the world must balance protecting consumer interests with encouraging innovation without being overly restrictive. Many nations have chosen a "Regulatory Sandbox"-based strategy to address this issue, in which the regulator closely collaborates with up-and-coming companies. The regulatory sandboxes in India are still in the development stage, and authorities are still fine-tuning their regulations. The IRDAI Regulatory Sandbox is essential to the expansion, investment, and adoption of innovation in the insurance sector, protecting consumer interests in the process. Indian regulators intend to encourage the development of new goods and services by creating sandboxes for each industry.

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