Accounts Finalization of Accounts within two months of end of financial year. Bank Reconciliation: on quarterly basis and when needed. Correspondence with Ministry and other outside agencies
The following are main functions and responsibilities of Actuarial Department: Formulation and amendment of regulations/legislations pertaining to Actuarial matters. To coordinate with Institute of Actuaries of India in bringing out Guidance Notes to be issued in concurrence with the Authority to enable suitable and necessary practices to evolve.
Procurement of office supplies a. Arranging procurement of office supplies like Stationery, consumables for different machines like Xerox etc. b. Arranging purchase of office furniture, assets etc. c. Arranging interior works like Cubicles, new work stations etc.
The following are the functions and responsibilities of Agency distribution department:
1. Maintenance of Consumer Education Website: IRDAI’s Consumer Education Website (www.policyholder.gov.in) explains in a simple language the benefits of various types of insurance products, do’s and don’ts and grievance redressal mechanism etc. for spreading awareness amongst the general public.
The Department looks into the complaints from policyholders against life, non-life and health insurance companies.