The Insurance Regulatory & Development Authority (Irda) has asked insurers having assets under management of over Rs 500 crore to personally see that someone acts as fund manager and dealer. “The investment system should have separate modules for front and back office,” said Irda in a notification.
Transfer of data from front to back office should be electronic without manual intervention, that is, without re-entering data at the back office. The insurer may have multiple data entry systems, but all such systems should be seamlessly integrated without manual intervention. The front office shall report to the CEO, through the chief investment officer.
Transfer of data from front to back office should be electronic without manual intervention, that is, without re-entering data at the back office. The insurer may have multiple data entry systems, but all such systems should be seamlessly integrated without manual intervention. The front office shall report to the CEO, through the chief investment officer.
Source: The Financial Express
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