Insurance regulator IRDAI has directed insurers to link the remuneration of managing directors (MDs), chief executive officers (CEOs) and other senior executives to customer-centric outcomes, including claims response, grievance redressal and the overall financial health of the company, PTI reported.The Insurance Regulatory and Development Authority of India (IRDAI) issued amendments under the IRDAI (Corporate Governance for Insurers) Regulations, 2024 and outlined revised parameters for remuneration packages and incentives for top management personnel.The new rules have come into effect with immediate effect.In a statement on Tuesday, IRDAI said the revised framework is part of its broader effort to strengthen customer trust, improve transparency and enhance accountability in the insurance sector.The performance parameters include financial soundness, product performance, claims response, timely complaint redressal and removal of dark patterns from the websites of insurers and distributors.The regulator has also made it mandatory to disclose performance on the parameters used to determine the remuneration of key management personnel (KMPs).Some disclosures will have to be made monthly and others quarterly on insurers’ websites in an “easy to access” and “easy to understand” format that does not require visitors to provide personal details such as phone numbers.Financial strength data will be disclosed quarterly, while details related to product performance, claims handling and grievance redressal will need to be published monthly.“Growing customer expectations and the needs of the economy require us to place greater emphasis on measurable customer outcomes, transparency in decision making, accountability and sustainable value creation,” said Ajay Seth, Chairman, IRDAI.“Accordingly, the revised performance framework will move beyond traditional operational and financial metrics and focus more on customer-centric and governance-oriented outcomes,” he said.The regulator said the updated framework will also empower boards to focus on customer satisfaction, timely claim settlement, reduction in repeated complaints and ensuring transparent and customer-friendly processes.IRDAI said it aims to improve transparency and accountability through timely and comparable disclosures among insurers covering the current period and the last three years.Separately, Member (Finance and Investment) Rajay Sinha said amendments related to reducing management expenses, strengthening rural and social obligations and improving coverage of government-backed schemes like PMJJBY and PMSBY will be considered under future regulatory updates. PTI