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IRDA to explore e-sale option for insurance products
Highlights
IRDA to explore e-sale option for insurance products. In its effort to extend Digital India initiative to insurance sector and explore opportunities in e-commerce space, the Insurance Regulatory and Development Authority of India (IRDA) is considering appointing two groups for life and non-life.
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Hyderabad: In its effort to extend Digital India initiative to insurance sector and explore opportunities in e-commerce space, the Insurance Regulatory and Development Authority of India (IRDA) is considering appointing two groups for life and non-life.
The insurance authority wanted to promote e-commerce for policy selling as it would help in reducing cost of transactions and improve efficiencies, the circular said.
The proposed two groups are expected to identify e-commerce initiatives, recommend technology platform, and other measures to facilitate insurance penetration. The groups are expected to finalise and submit recommendations in the next four weeks to the IRDA chairman.
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