IRDAI stands for Insurance Regulatory Development Authority of India.
It is the central body regulating the insurance sector. Every Insurance company is licensed by IRDAI and is monitored to prevent any frauds commited by companies against the customers.
This satutory body designes the code of conduct of loss inspectors and pormotes efficiency in system

Headquarters Sy No. 115/1, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500032 official site