Latest News and Press Releases For Insurance Brokers/Agents

June 10, 2020 in Insurance Broking



Latest News and Press Releases For Insurance Brokers/Agents

Paper works are becoming less and less. Insurance brokers and agents can now relax a bit. The latest IRDAI press release dated April 24, 2020 issues the permission for the insurance companies to avail Aadhaar Authentication Services of the Unique Identification Authority of India. Central Government has endorsed, vide Gazette notification dated April 23, 2020, some of the insurance companies to commence the Aadhaar authentication services. 

See the list of insurance companies that may switch to KYC paperless services in the near future. 

1 Bajaj Allianz Life Insurance Company Limited
2 Bharti AXA Life Insurance Company Limited
3 Exide Life Insurance Company Limited
4 HDFC Life Insurance Company Limited
5 ICICI Prudential Life Insurance Company Limited
6 India First Life Insurance Company Limited
7 Max Life Insurance Company Limited
8 PNB Metlife India Insurance Company Limited
9 SBI Life Insurance Company Limited
10 Future General India Life Insurance Company Limited
11 Reliance Nippon Life Insurance Company Limited
12 Aegon Life Insurance Company Limited
13 Shriram Life Insurance Company Limited
14 Aditya Birla Sun Life Insurance Company Limited
15 Pramerica Life Insurance Company Limited
16 Kotak Mahindra Life Insurance Company Limited
17 Star Union Dai-ichi Life Insurance Company Limited
18 IDBI Federal Life Insurance Company Limited
19 Edelweiss Tokio Life Insurance Company Limited
20 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited
21 Kotak Mahindra General Insurance Company Limited
22 Future Generali India Insurance Company Limited
23 Manipal Cigna Health Insurance Company Limited
24 ACKO General Insurance Limited
25 Religare Health Insurance Company Limited
26 Royal Sundaram General Insurance Company Limited
27 SBI General Insurance Company Limited
28 HDFC Ergo General Insurance Company Limited
29 HDFC ERGO Health Insurance Limited (Formerly Apollo Munich Health Insurance Company Limited

Caution on fraudsters offerings

Also in an earlier press release dated on April 20, 2020 issues the list of authorized insurance companies and insurance intermediaries can be accessed from the following links. This is issued on behalf of the noticeable occasional reports of fraudsters offering insurance with unusually low premium from fake entities through online/digital mode. Both the public and the related insurance brokers/agents should be aware of this. This option will be a great use for both the customers and insurance brokers in the mist of current Covid19 pandemics. 

Being a insurance professional, you need to make sure that the business entities you dealt with has the following:

1. The insurance companies that you are dealing with must be registered with IRDAI
2. The insurance intermediaries who can solicit business and strictly registered with IRDAI
3. Insurance agents must be duly appointed by insurance companies itself

For confirmation, the list of insurance companies and insurance intermediaries can be accessed from the following links:

You could find the list of insurance agents appointed by individual insurers can be verified from the respective insurers. As an authorized insurance broker, you must keep this in mind to see success in your business endeavours.