Reference is invited to Clause No.12 of the Guidelines on “Outsourcing of Activities by Insurance Companies” issued vide Ref:IRDA/LIFE/CI R/GLD/013/02/2011 dated 15t February,2011, wherein it is stated that the guidelines for electronic issuance of insurance policies will be issued separately. In order to work out the modalities of electronic issuance of policies, the Authority hereby by constitutes a Working Group consisting of the following officials:
1. Mr A Giridhar, IRDA – Chairman
2. Mr. G Srinivasan, United India – Member
3. Mr Sandeep Bakshi. ICICI Pru – Member
4. Mr Jayant Dua, Birla Sun Life Insurance Co. – Member
5. Mr V Philip, Bajaj Allianz Life Ins Co – Member
6. Mr Amitabh Choudhary, HDFC Std Life Ins Co – Member
7. Mr Gaurav D Garg, TATA AIG General – Member
8. Mr P S. Reddy, CDSL – Member
9. Dr Manoj Vaish, NSDL – Member
10. Mr Randip Singh Jagpal, IRDA – Member
11. Mr.D.V.S.Ramesh, IRDA – Member
12. Mr.G.Rajeshwar, IRDA – Member Convener
Functions and Procedures: The Working Group is requested to examine the following and submit its recommendations to the Authority before 04th March, 2011.
Mechanics involved in issuance of electronic policies Examination of the legal implications and the required amendments, if any to the relevant Regulations, Guidelines and other Circulars issued by IRDA Modus Operandi of proposed electronic structure Operational procedures to be in place for policy servicing Cost Benefit analysis. Any other issues connected to electronic policies.Â
Tenure: Until further orders
Meetings: The Committee may meet as often as may be necessary.
Quorum: The minimum number of members to be present is three.
This issued with approval of chairman.
A Giridhar, Executive Director, IRDA
