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Irdai wants fuel pumps and cooking gas agencies to sell insurance

The regulator also wants all life insurance companies to have a 13th month persistency of 90 per cent and 61st month persistency of not below 65 per cent

subhash c khuntia
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Subhash Chandra Khuntia, Chairman, Irdai

Subrata Panda Mumbai
The insurance regulator is in talks with the petroleum ministry to see if fuel pumps and cooking gas agencies can be used for selling simple insurance products. This will help expand the distribution channels, said Subhash Chandra Khuntia, chairman of the insurance regulatory and development authority of India (Irdai).

“The motive is to provide access to motor insurance in rural and remote areas as all vehicles have fuel pumps as touch points. However, simple products including micro-insurance products can also be sold there. This will augment the distribution channels like bank branches, common service centres and motor insurance service

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