Insurance regulator seeks expert to streamline processes

Tags: Insurance
Insurance sector regulator Irda is seeking an information technology consultant to help it to streamline processes and lower the cost of compliance.

The Insurance Regulatory and Development Authority (Irda) has been taking a number of technology initiatives to focus on streamlining the regulatory process and decrease the cost of regulatory compliance, it said in an advertisement on its website.

"The consultant should assist the Authority in implementation of such projects through various committees and identify new technology initiatives to derive greater efficiencies and economies that position regulators to be able to effectively and efficiently regulate insurance industry and implement the same," it said.

The consultant would be hired on a contract basis for an initial tenure of one year, which could be extended for another year, Irda said.

The consultant would need to work with IT and other regulatory departments to establish periodic technology needs and oversee IT strategy and governance.

The consultant would be required to assist Irda with periodical review and audit of both hardware and software applications including data systems, among other things, according to the advertisement.

The age limit for candidates is 62 years as of May 30, 2014, the last date for receiving applications.

Irda said the retainer fee for the post may range between Rs 70,000 and Rs 110,000 per month, depending on qualification and experience.

It will also offer Rs 10,000 as monthly allowance for local conveyance and additional payments as sitting fees for participation in committees.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Child abuse needs to be tackled with the seriousness it deserves

    The Bangalore rape case has again brought into focus an issue we Indians forever shy away from facing up to — child sexual abuse.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: THE BASE RATE BIAS

Base rate fallacy, also called base rate neglect or base ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture