Insurance Regulatory and Development Authority of India (IRDAI) chairman said India’s insurance sector currently operates in an “unstable equilibrium” due to elevated costs, intensifying competition, rising claims and evolving regulatory demands. The remarks were made at the BFSI Insight Summit 2025, where he also underscored the need for insurers to bolster solvency buffers and adopt tech-driven models to manage risk. The regulator emphasised quicker product innovation, tighter oversight of inter-mediary commissions and stronger focus on fraud prevention. Sector stakeholders expect a regulatory push on pricing transparency and distribution models.