The IRDAI Regulatory Sandbox is a special framework that allows insurance companies and startups to test new ideas and technologies in a controlled environment before they are fully launched. To participate for the Sandbox, firms need to meet certain eligibility requirements. These include having strong financial stability, proving they have the technical skills needed, and showing that their project has innovative potential. The Sandbox is meant for testing new insurance products or technologies, and meeting these criteria helps ensure that the testing process is effective and compliant with regulations.
For more information, visit: https://enterslice.com/irdai-regulatory-sandbox
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