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5 Mins read
•General

Insurance Information Bureau of India (IIB): Your Ultimate Guide to Data-Driven Insurance Insights

RBI Headquarters Building

Summary

The blog details the Insurance Information Bureau of India’s central role in the insurance sector, describing its functions in data collection, analysis, and transparency. It discusses a ransomware attack by Russian hackers that highlights cybersecurity challenges. The blog further explains the origins, objectives, and structure of IIB and its parent body, the IRDAI, emphasizing consumer protection and innovation.

Key Takeaways

  • IIB is crucial for data collection and analysis in India's insurance industry.
  • A ransomware attack exposed significant cybersecurity vulnerabilities.
  • IIB supports risk management, market transparency, and regulatory oversight.
  • IRDAI governs the sector to ensure consumer protection and industry growth.

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