With the goal to offer motor insurance policies at the consumer’s doorstep. The insurance authority of India, IRDAI is considering promoting the e-vahan system in all over the country.
With an aim to provide motor insurance policies at vehicle owners’ doorstep, insurance regulator IRDAI is contemplating promoting the e-Vahan Bima system throughout the country.
The government of Telangana in association with IRDAI and the Insurance Information Bureau of India introduced the e-motor insurance facility in the state.
The platform for e-Vahan Bima was founded after the data sharing was facilitated by the Telangana government with the IIB.
“Now that the Government of India, Ministry of Road Transport and Highways has also agreed to share the nationwide data with IRDAI/IIB, e-Vahan Bima could also be extended to the rest of the country,” said minutes of an IRDAI meeting.
Electronic motor insurance policies are expected to help in providing insurance policies at vehicle consumers’ doorstep.
IRDAI declared that electronic motor insurance policies could be provided on-line across the country, thus, paving the way for a host of advantages like faster issuance, removal of fraud, higher customer satisfaction, elimination of revenue leakages, and analytics among others.