Magazine date:
Oct 2020 
The Insurance Regulatory Authority of India (IRDAI) is introducing a colour code for health insurance policies. Such an initiative enables the insured to understand the level of complexity of a contract when underwriting a health product using three colours: green, orange and red.
This will help reduce sales errors and improves the transparency of the health insurance market.
The colour code is applied only to individual health products.
Read also | Indian insurance industry [4]