Chairman with IRDAI Meeting - 19th Sept 22.pptx

present

1. IRDAI Meeting Issues related to eIA , Insurance Repositories etc 19 th Sept 22

2. 2 Objective & Scope Confidential to Recipient Objective : Common standardised KYC process valid for on-boarding prospects across Insurance Industry (through unique eIA ). Scope : Individual Policyholder (and non-individual policyholders like HUF, Partnership, Corporations etc) Products – (Individual) - Life, General, Health and (Group) Life & Health

3. 3 Intermediaries allowed to do (collect) KYC Confidential to Recipient Agents Banks Brokers Insurance providers Any other IRDAI approved license holder

4. 4 Process flow Confidential to Recipient Start with eIA creation/validation Inter-operability Updation to C-KYC Access to UIDAI & PAN Other OSDs management

5. 5 Other Key areas Confidential to Recipient Usage of KYC & Updation of KYC – frequency Existing policyholders KYC – if we have to move the existing policies to electronic mode, then policyholders have to open eIA , for which KYC is required. Can we rely on the insurer KYC or we need to do fresh KYC. Existing eIAs KYC – how to deal with/ or get documents from Insurers Data & record storage – period & purging policy Invalid contact details ( Mail Id/Mobile No) in the existing data base – how to deal with 6 . Transaction:  fee to be charged for first time KYC, usage and updation  

6. 6 Confidential to Recipient Thank you