Insurance regulatory and Development Authority also called IRDA, is an autonomous, statutory body to regulate and develop the insurance sector. IRDA was incorporated as statutory body in 2010, and its key objectives include creating of level playing field among different insurance players, safeguarding investors from bad practices and ensuring the financial security of the insurance market.

IRDAI headquarter is located at Hyderabad, Telangana, with 2 regional offices at Delhi and Mumbai. As on May 2018, total employee strength of IRDAI was 255, with 72 people working as IRDA Assistant Manager.

IRDAI regulates several public insurance companies (LIC, GIC, New India insurance, United Insurance, Oriental Insurance, Agriculture Insurance, etc) and private companies (ICICI Prudential, Pnb-Metlife, SBI Life etc) for life and non life insurance segments.

Organisation structure of IRDAI

Insurance Regulatory and Development Authority of India (IRDAI) has following departments.

  1. Accounts department
  2. Actuarial department
  3. Administration department
  4. Agency distribution department
  5. Communication department
  6. Consumer affairs department
  7. Corporate services department
  8. Enforcement department
  9. Estates department
  10. F&A department (Life)
  11. F&A department (Non-Life)
  12. Health department
  13. HR department
  14. Information Technology department
  15. Inspection department
  16. Intermediaries department
  17. Distribution development
  18. Brokers
  19. Internal Audit
  20. Investment department
  21. Legal department
  22. Library
  23. Life department
  24. Non-Life department
  25. Official language department
  26. Re-Insurance department
  27. Sectoral development department
  28. Surveyor and IMF department
  29. Vigilance department

The posting of the selected candidates can be in any of the Offices of IRDAI and they are liable to be transferred from one Department/Office to another during any time in their career.

 

Job hierarchy at IRDAI

At the executive level, IRDAI has 1 chairmain, 5 full time members and 4 part time members to look at the overall functioning of IRDAI. All of these executive members were appointed by government of India.

  1. Assistant (Junior Officer)
  2. Assistant Manager (AM)
  3. Manager
  4. Assistant General Manager
  5. Deputy General Manager
  6. General Manager
  7. Chief General Manager

 

Recruitment at IRDA

Irda recruits for its Assistant Manager (AM) and Assistant (Junior officers) through online recruitment tests. Recruitment at other posts are through internal promotions and through lateral hiring.

See complete information IRDA Assistant Manager exam

About Xamnation

Xamnation.com is offering best quality learning platform for students preparing for different competitive exams like UPSC, RBI, IRDA, GATE etc. We offer online live classes, study material, test series, mock test series, individual attention to students appearing for exams. Check out our important pages regarding competitive exams preparation.

For any query regarding exams, do fill in the form below, or contact us at rakesh@xamnation.com

All theBest.