Kunnel Prem, chief executive officer of the Insurance Information Bureau of India (IIB), tells Mayank Jain on what they’re doing. Edited excerpts: What are your objectives? In the early 2000s, the industry had opened up and Irdai (Insurance Regulatory Development Authority of India) was collecting a lot of data. At that point, the chairman of the regulator felt data from both life and non-life insurance had to be handled in a more efficient manner.

That’s when Irdai promoted this body, in 2009. It was made a non-profit society in 2012. The objective was to support the ...