What is CKYC – The Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines, stating that insurance agents can no longer collect physical KYC documents from customers for any policy transactions starting October 1, 2024. Instead, agents must now rely on a centralised process called Central Know Your Customer (CKYC). This mandatory … Read more
IRDAI Guidelines for General Insurance – The Insurance Regulatory and Development Authority of India (IRDAI) has introduced 14 new guidelines aimed at improving transparency, fairness, and customer-centricity in general insurance. These guidelines cover various aspects of policy issuance, claim settlement, and dispute resolution, benefiting both policyholders and insurers. Let’s break down each guideline and its … Read more
IRDAI 19 New Guidelines for Health Insurance – The Insurance Regulatory and Development Authority of India (IRDAI) recently issued 19 new guidelines aimed at making health insurance policies more transparent, efficient, and beneficial for policyholders. These reforms focus on speeding up claims, ensuring clarity in processes, and enhancing the overall customer experience. Each point in … Read more
IRDAI New Circular – The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new circular that outlines significant reforms in the life insurance sector, with changes targeting life insurance companies, health insurance companies, general insurance companies, insurance advisors, and their customers. These changes are expected to impact more than 25 lakh insurance … Read more
IRDAI new guidelines for LIC – The Insurance Regulatory and Development Authority of India (IRDAI) has always played a pivotal role in regulating and overseeing the insurance sector in India. Recently, IRDAI has been at the forefront of introducing new guidelines aimed at reshaping the landscape of life insurance in India, particularly with regards to … Read more