From the beginning of 2023, a new rule regarding KYC has been implemented by IRDAI. With this, there is a possibility of getting a lot of relief to the insurance policy holders and the claim process can also be fast after the new one.
From the beginning of 2023, an important important rule has come into force regarding the insurance policy. Under this new rule, it has now been made mandatory for people to get KYC done while taking a new insurance policy. According to the Insurance Regulatory and Development Authority of India (IRDAI), these rules will apply to all types of new insurance policies such as health, auto, home and life.
Earlier it was not mandatory for the customer to get KYC done while purchasing the insurance policy. It depended on the person buying the insurance whether he wanted to get KYC done or not.
Claim payment service will be faster
Experts believe that with the introduction of the new rule, there can be a spurt in claim processing. It will be easier for the insurance company to identify the beneficiary. With this, all the information related to the customer of the insurance company will be available. At the same time, after KYC, insurance companies will be able to manage the risk in a better way.
Exemption proposed to those who take three doses of Kovid vaccine
According to a report by the news agency PTI, a few days ago a proposal was made by IRDAI to the insurance companies that the policy holders who have got all the three doses of Covid vaccine. They should be given discount on renewable of general and health insurance. However, no decision has been taken on this.
Along with this, the insurance companies have been asked by the regulator to ensure that despite having a cashless policy, the amount was deposited from the patients on behalf of the hospitals. Along with this, insurance companies have also been advised to set up a war room to solve all the questions related to Covid.