annual report 2008-09 - IRDA

ANNUAL REPORT 2008-09
PART IV
ORGANIZATIONAL MATTERS
I. Organization
Shri J. Hari Naryan, IAS (Retired) took over as
Chairman of IRDA on 12 th June, 2008 consequent to
the completion of tenure of Shri C.S. Rao on 14 th May,
2008. Shri C.R. Muralidharan, Shri K.K. Srinivasan,
Shri G. Prabhakara and Dr. R. Kannan continued as
Whole-time Members of the Authority.
Shri Uttam Prakash Agarwal, President of Institute of
Chartered Accountants of India, became Part-time
Member with effect from 6 th February, 2009. Shri Vijay
Mahajan, Chairman, BASIX Group and Mrs. Ela R.
Bhatt, Founder of Self Employed Women’s
Association (SEWA) continued to be part-time
Members of IRDA.
Shri Ved Jain was a part-time Member from Feb 6,
2008 to Feb 5, 2009. Mrs. Sushma Nath, Secretary
(Expenditure), Ministry of Finance, Government of
India was the Part time Member till 19 th Feb 2009. Dr.
Sanjiv Misra, Secretary, Ministry of Finance,
Government of India was a part-time Member till 18 th
Feb 2009. Shri Rahul Khullar, Secretary
(Disinvestment) Ministry of Finance, Government of
India became part-time Member of IRDA on 20 th Feb
2009.
II. Meetings of the Authority
Four meetings of the Authority were held during April
2008 to March 2009.
III. Human Resources
To further fortify the Authority’s various departments,
recruitment was undertaken at the levels of Assistant
Directors and Assistants. In all 15 Assistant Directors
and 23 Assistants joined the IRDA.
The Authority, in conjunction with Andhra Pradesh
Government, set up an Institute of Insurance and Risk
Management (IIRM) at Hyderabad in 2002. IIRM is
over seen by a Board of Directors headed by the
Chairman, IRDA.
IV. Promotion of Official Language
A separate Hindi Section to ensure the implementation
of the constitutional provisions of Official Language,
to implement the Official Language Policy of the
Government of India and to promote the use of Hindi
in the Headquarters as well as in the subordinate office
is functioning in IRDA. Efforts are being made to
promote the use of Hindi in the official work. Progress
made in the use of Hindi was reviewed periodically
and necessary measures were adopted to achieve
the targets fixed for various items in the Annual
Programme for the year 2008-09 issued by the
Department of Official language. IRDA publishes a
monthly Journal which contains Hindi Section also.
All Notifications of the Authority are in bi-lingual form.
V. Status of Information Technology in IRDA
During the year 2008-09, IRDA made several IT
initiatives in order to ensure use of Information
Technology towards an effective supervisory and
monitoring system. IRDA has commenced the project
for developing and implementing a robust regulatory
and business analytics. Further, in order to ensure
that the ‘protection of policyholders’ interest’ regulation
is effectively implemented at insurers’ level, Authority
has initiated the process of development of a
‘Centralized Policyholders’ Grievances’ database at
IRDA which will monitor grievances mechanism at
insurer level on a real-time basis. The proposed
system will enable the policyholders to complain
against any insurer. In order to ensure that the existing
portals address the changing needs of the
stakeholders and the process of ‘revamping the
portals’ have also been initiated.
Business Analytics Project:
The proposed project will address the operational and
analytics requirements of various functions of the
IRDA. The project is being implemented in two phases
‘ Phase-I: Analysis Phase’ and ‘Phase-II: Design-
Phase’. Phase-I activity has already been
commenced and expected to complete their activity
by ‘December 2009’.
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