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Individual agents, marketing firms to soon be part of Irdai database

Measure to help curb cases of data duplication

Press Trust of India  |  New Delhi 

Individual agents, marketing firms to soon be part of Irdai database
Representative Image

The Irdai-backed central unveiled recently will shortly bring individual agents as well as marketing firms under its ambit.

The intent is to avoid because those who sell products do not work with multiple insurers or intermediaries in the same business category.

The Information Bureau of (IIB) hosts the central

Point of sale persons (POS), corporate agents, qualified brokers and authorised verifiers of web aggregated are part of the currently.

has asked insurers to upload the details of entities working for them.

"The last phase of the portal would cover individual agents, marketing firms (IMFs) and the remaining categories, and is expected to be ready shortly," said.

As part of the de-duplication exercise, agents are mandated to furnish their unique 12-digit for the data

The online has also a search facility related to sales persons.

"Appointment of such a (sales) person by the insurer or intermediary shall be taken up only after ensuring the applicant does not already figure in the database," regulator Regulatory and Development Authority of (Irdai) said.

The has been set up to support the industry to allow scientific decision making, including pricing and framing of business strategies.

First Published: Sun, August 27 2017. 15:34 IST
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