Now you can buy insurance cover from an ATM
DSIJ Intelligence / 12 Apr 2017
The government is looking to revive a plan to have more touchpoints for insurance by having ATM-like centres that will be able to complete insurance sales within minutes. Using Aadhaar card, an individual will be able to provide the KYC details, after which a policy can be bought.
The government is looking to revive a plan to have more touchpoints for insurance by having ATM-like centres that will be able to complete insurance sales within minutes. Using Aadhaar card, an individual will be able to provide the KYC details, after which a policy can be bought.
The proposal for sell of insurance was floated about two years ago.The lack of adequate data and consensus had led to delay in executing such a service.
At the same time, a proposal to make e-commerce companies dispense insurance policies is also underway and it will be for the first time that life insurance policies will be sold on such a platform.
If customer wants to book policy online he or she must have an e-insurance account with any of the registered insurance repositories. The policy will be directly sent in an electronic format to the holder.
However, if customer wish to have a policy document physically, it can be printed.
Meanwhile, in the initial phase, one to two executives will assist in the buying process.
Going ahead the plan is to have a complete functional digital centre without any human intervention.
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