Web Aggregators Regulation – Mr. Harsh Roongta’s view point
Loading ...“Conceptually the price comparison industry welcomes regulation since we play a vital role in consumers taking an informed decision especially on risk based products such as term insurance or health insurance. The new regulations however disallows the industry from providing comparison across the market by using data sourced from public sources and presenting them in a easy to understand format for the end consumer and providing value addition in terms of editorial input and customer feedback. The commercial terms proposed in the regulation presupposes that the price comparison companies play a role akin to that of an insurance agent/insurance broker and partially links compensation to first year’s commission payable on the product. This disincentivises propagation of zero/low commission products such as term plans or health insurance plans which are such a vital part in the spread of insurance culture in the country,” Harsh Roongta, CEO, Apnapaisa.com
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