Tata AIA Life Insurance has introduced paperless onboarding of new clients through Aadhaar eKYC.
This has come after IRDAI’s clarification that insurance companies and intermediaries like agents and brokers can complete the KYC process online with Aadhaar based authentication.
In a press release, the company said, “By minimising the use of physical documents, the service will not only reduce time and effort involved in the application process, but also ensure that consumers can buy life insurance solutions from the safety and comfort of their homes. Apart from enhancing consumer convenience and ensuring their safety, it will also ensure the safety and security of their important personal documents, as customers will no longer be required to provide physical KYC documents.”
Tata AIA Life will soon extend the service for verification of the agents, as part of ‘Know Your Agent’ (KYA) requirement.