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Insurance Agents will have to link Aadhaar with their agency code

Agents will have to link Aadhaar with their agency code

IRDAI has asked insurers to collect the Aadhaar number of their agents and upload it on IIB’s portal.
Rosevina Gonsalves Jul 15, 2017

Not only the IT department is asking you to link your Aadhaar number with your Pancard, IRDAI too wants agents to link Aadhaar with their agency code.

In a move to de-duplicate insurance intermediaries, IRDAI has asked insurance companies to link the Aadhaar number of their agents with their respective agency code. In addition, insurance intermediaries, who have appointed salespersons such as corporate agents (banks) insurance brokers, insurance marketing firms and web-aggregators, will require to collect their Aadhaar details and link these to their agency code.

IRDAI has instructed insurance companies and insurance intermediaries to upload such details on the Insurance Information Bureau (IIB) portal. Currently, IIB is developing this portal.

Earlier, in April, IRDAI had asked insurers and intermediaries to share information about the appointed sales representative, called Point-of-Sale Persons (PoSPs), with IIB. The intention was de-duplication of PoSPs enrolled by insurers and other intermediaries. For this purpose, the Aadhaar number of PoSPs was used as a unique identification mark.

Similarly, the insurance regulator has directed insurance companies and intermediaries to share information of the various distributors with IIB.

In a notification, IRDAI said, “In order to achieve the objective, IIB has been asked to develop the portal for uploading the Aadhaar number and other details of insurance agents on the lines of POS. The insurers are therefore advised to collect the same so as to be ready to upload the necessary information on the date to be communicated by the Authority in due course.”

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