Buyers and agents can now compare ULIP products offered by different companies through their mobile phone with internet connectivity
Mumbai: IRDA has introduced a mobile application that would enable agents and investors to compare insurance products and premium rates. The application currently allows one to compare the features of Unit Linked Insurance Policies (ULIPs) introduced on or after 1st September, 2010 through mobile phones/devices with internet connectivity.
According to a statement released by IRDA, ‘the application has been developed with the objective of providing a mechanism for prospects to make informed decisions by comparing features of insurance products through mobiles.’
The application works on Android, iPhone, Nokia and Blackberry platforms. However a user can also access the information through any mobile that enables internet access or can access the website directly.
“The application enables real time mobile based access to the IRDA repository containing details of the products by accessing www.m.irda.gov.in. Users can search products for comparison through three search options displayed on the launch screen —search by company, search by policy type and search by keyword,” said J Hari Narayan, Chairman IRDA.
Search by company lists the companies offering similar products and allow users to choose the products one wants to compare. A maximum of three products can be chosen.
Search by policy type lists different types of policies from which the user can select the required type and choose three products from the displayed products for comparison.
The user can also search either by policy type or company wise by entering a keyword.