Irdai unveils portal for insurers to sell policies online
Insurance regulator Irdai said insurance companies, brokers and corporate agents can sell and service insurance policies via online platform
Latest News »
- Infosys chairman R.Seshasayee to retire next year, wants smooth transition
- Pakistan’s BAT team carried ‘special daggers’, cameras to record terror attack
- Ordinance likely to amend SEZ Act for alignment with GST next week
- Five London tower blocks evacuated over fire safety concerns after Grenfell blaze
- China developed world’s most powerful submarine detector: report
New Delhi: Insurance regulator Irdai has launched a web portal for insurers that will allow them to register and sell policies online. The portal—isnp.irda.gov.in—is also open to intermediaries in insurance business, Irdai said in a circular.
Last month Insurance Regulatory and Development Authority of India (Irdai) issued guidelines on e-commerce for insurance sector. Announcing the launch of registration portal for Insurance Self Networking Platform (ISNP), Irdai said insurance companies, brokers and corporate agents can sell and service insurance policies through this platform.
Insurers and intermediaries can create a login credential for registration and submit ISNP application form on the portal.
In its guidelines issued in March, Irdai had said that companies may offer discounts to customers if their policies are sold through e-commerce websites.
This will help companies increase insurance penetration in the country, it said.
The ISNP portal will offer host of services including change of policy details like name and address, collection of renewal premiums, surrender or withdrawals, fund switching, policy revival or cancellation or transfer, duplicate policy, death/maturity claim and other policy specific services, it added.