Page 195 - Ebook health insurance IC27

Sashi Publications

Data is very important for the insurance industry. Recently, IRDA has authorized
IIB as its nodal unit to collect data on behalf of IRDA (which was previously
performed by TAC).

By virtue of powers vested with the IRDA to seek information and returns, under
Sections 14 (2) (h) of IRDA Act and Sections 14, 21 and 110c of the Insurance
Act, 1938, all insurers have to submit information to the IIB in specified formats
and within stipulated time frame. IIB has created a data ware house which enable
the insurers, other stakeholders and researchers to have easy access to validated
data from one source.

IIB collects data from all insurers and TPAs, integrates them in to logical
subject areas, stores the data in a manner that is accessible and
understandable to decision makers, and delivers data/information through
report and query tools. Aggregated analysis of health insurance data is
available in IRDA website.

IRDA is the sole and exclusive owner of the data collected/received from the
insurance industry. Users are provided with only specific levels of permissions to
use the said data. IRDA also reserves the right to impose restrictions on the use of
findings from data/publication.

IIB's governance is by an Advisory Committee consisting of Chairman, IRDA as
Chairman, D.G (R&D) as Vice Chairman, Executive Director (Admin), IRDA as
Convener, three Data management experts, Secretary Generals of Life and Non-
life Councils, a representative each from Life and Non-life business, who will be
engaged as Members on rotation basis.

Website : www.bimabazaar.com, PH: 033 22184184/40078428 199