IRDAI advices insurers to issue digital insurance policies via Digilocker

  • Corporate Law
  • circular
  • financeseva

CIRCULAR NO. IRDAI/ INT/ CIR/ DGLKR/ 030/ 02/2021, Dated 09.02.2021 

In order to promote the adoption of Digilocker in the insurance sector, the IRDAI has advised all applicants to enable their IT systems to interact with Digilocker facility to enable policyholders to use digilocker for preserving all their policy documents. 

ln the insurance sector, Digilocker will drive reduction in costs, elimination of customer complaints relating to non-delivery of policy copy, Improved turnaround time of insurance services, faster claims processing and settlement, reduction in disputes, reduced fraud and improved customer contact capacity. On the whole it is expected that it will lead to better customer experience, said IRDAI. 

Digilocker is an initiative under the Digital India program by the Government of India where citizens can get authentic documents/ certificate in digital format from original issuers of these certificates.