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IRDAI allows life insurers to get consent of policyholders electronically

This facility, to be allowed on an experimental basis with immediate effect till December 31, 2020, will remain limited to pure risk products

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One of the conditions is that the completed proposal form should be sent to the prospect on his/her registered e-mail ID or mobile number in the form of an e-mail or a message with a link

Press Trust of India
In view of the disruption of normal business activity following outbreak of the coronavirus pandemic, the regulator IRDAI on Wednesday permitted life insurers to obtain consent of prospective policy holders electronically.

This facility, to be allowed on an experimental basis with immediate effect till December 31, 2020, will remain limited to pure risk products, meaning those policies which do not involve any savings element, the Insurance Development and Regulatory Authority of India (IRDAI) said in a circular.

"Life insurers are allowed to obtain the customer's consent without requiring wet signature on the hard copy of the proposal form, for the
Topics : IRDAI

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