In a circular sent to all general, health and life insurance companies, the Insurance Regulatory and Development Authority of India (Irdai) may soon allow insurers to leverage the various electronic platforms to ensure ease of doing business. The regulator said companies can use video-based identification process (VBIP) as an electronic medium to enhance ease of completing the Know Your Customer (KYC) process. Mint has reviewed a copy of the draft guidelines. To be sure, the guidelines are at draft stage and are currently open for public feedback.
Insurers receptive to covering chronic ailments, declare PEDs honestly
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