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IRDA asks insurers to participate in e-insurance

The companies must issue a similar number of new electronic policies between July 1 and August 31.

July 03, 2014 4:40 IST | India Infoline News Service
The Insurance Regulatory and Development Authority (IRDA) has asked insurance companies to participate in a pilot project on converting physical life insurance policies into electronic form between July 1 and August 31.
During this period, every life insurer will have to digitise at least 1,000, or 5%, whichever is lower, of its existing physical policies.
The companies must also issue a similar number of new electronic policies in these two months.

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