IRDAI Proposes Motor Insurance Distribution Reforms

India's IRDAI has proposed reforms letting car and two-wheeler buyers purchase motor insurance directly through digital platforms such as Bima Sugam, with platform fees capped at 5% of premium. Dealers must display the option and cannot deny cashless repairs to customers who bought insurance elsewhere. Average motor commissions run about 24%, and OEM brokers earned Rs 7,050 crore in FY25.