Which objective of IRDAI helps in promoting the orderly growth of the insurance sector?

IRDAI aims to promote fair competition, efficiency, and market development to ensure a stable and expanding insurance sector. Functions of IRDAI • To protect the interest of and secure fair treatment to policyholders • To bring about speedy and orderly growth of the insurance industry (including annuity and superannuation payments), for the benefit of the common man, and to provide long term funds for accelerating growth of the economy • The key objectives of the IRDA include  o promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums,  o while ensuring the financial security of the insurance market