Insurers to develop exclusive products for CSCs: IRDA

India Infoline News Service | Mumbai |

Common service centres are the front-end delivery points for government, private and social services to citizens

The Insurance Regulatory and Development Authority (IRDA) today asked insurance companies to develop products to be sold exclusively through common service centres (CSCs) and file these products with the regulator for approval.

According to IRDA guidelines on the CSC model, these products shouldn’t have a sum assured exceeding Rs 2 lakh (except motor insurance), per life or risk.
CSCs are the front-end delivery points for government, private and social services to citizens.

CSC e-Governance services India Ltd, a special purpose vehicle, has been formed to enable delivery of services through the CSC network.

CSCs will have a rural authorised person (RAP), who has to complete 20 hours of theoretical training from a recognised institution and, subsequently, undergo an examination.

The Centre had planned to introduces about 1 lakh CSCs across the country, with a focus on the rural areas.
 

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