The Insurance Regulatory and Development Authority of India (IRDAI) hosted the 8th Asia-Pacific High-Level Meeting on Insurance Supervision and the 20th Asian Forum of Insurance Regulators (AFIR) Annual Meeting and Seminar in Hyderabad on 9-11 December 2025, with a focus on digital innovation and financial inclusion. At AFIR’s 9th General Meeting of Members, IRDAI’s Chairman was unanimously elected as Chair of AFIR for the next two years. The insurance supervision meeting, jointly organised by AFIR, the Financial Stability Institute (Bank for International Settlements) and the International Association of Insurance Supervisors (IAIS), covered the evolution of supervisory mandates, protection gaps in climate, health and cyber segments, and the potential use of artificial intelligence in insurance supervision. IRDAI Member (Actuary) P. K. Arora highlighted the protection gap as a measurable vulnerability and pointed to India’s Digital Public Infrastructure, including digital identity, payments and data-sharing rails, as supporting greater trust and access, while IAIS Executive Committee Vice Chair and European Insurance and Occupational Pensions Authority Chair Petra Hielkema outlined European Union regulatory developments. The AFIR seminar, themed Innovating with Trust, Including with Care: Charting the Insurance Path Ahead, also addressed inclusive regulation, EV underwriting and claims innovation, climate and disaster risk modelling, technology-driven fraud prevention, closing protection gaps, and operational risk management under CPS 230, alongside IRDAI remarks linking inclusion to India’s 'Insurance for All by 2047' goal. IRDAI will hold the AFIR chair for the upcoming two-year term.

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