Customers will now find it much easier to buy motor insurance policies or renew their existing ones on the go as the Insurance Regulatory Authority of India (Irdai) has allowed more touch points and prevented insurers from discriminating between dealers.
Irdai also said it might consider relaxing agency norms to ease distribution of simple policies including motor third-party policies through agencies such as pollution-check centres. It is, however, not clear if there will be any mandatory training requirement. According to senior insurance executives, basic training in the products and how the premium is calculated, among others, should be provided to these new players
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