IRDAI considering shifting to 'use and file' system for product approvals: Chairman

Under the file and use system, an insurer, who wishes to introduce a new product, has to file an application for the product with the IRDAI and use the product for sale in the market only after getting all the regulatory approvals.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/irdai-considering-shifting-to-use-and-file-system-for-product-approvals-chairman/articleshow/81444025.cms