IRDAI launches web portal for insurers, intermediaries

Q.  Which group besides insurers is applicable for the IRDAI web portal for registering and selling policies online?
- Published on 17 Apr 17

a. Insurance intermediaries
b. NBFCs
c. Merchant Banks
d. RRBs

ANSWER: Insurance intermediaries
 
The Insurance Regulatory and Development Authority of India (IRDAI) has launched a web portal for insurers that will allow them to register and sell policies online.

The portal - isnp.irda.gov.in - is also open to intermediaries in insurance business.

IRDAI had issued guidelines on e-commerce for insurance sector.

IRDAI indicated insurance companies, brokers and corporate agents can sell and service insurance policies through this platform.

Insurers and intermediaries can create a login credential for registration and submit ISNP application form on the portal.

In its guidelines issued in March, IRDAI allowed that companies may offer discounts to customers if their policies are sold through e-commerce websites.

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