THE insurance sector regulator has allowed general and health insurers to issue policies in electronic form and this e-policy will become a norm in the future, a senior Irdai official said on Friday. Speaking at an industry event, T L Alamelu, Member (Non-Life) Insurance Regulatory Development Authority of India (Irdai), however, said a lot more needs to be done in the insurance sector for both policyholders and other stakeholders. “As far as regulator is concerned, there is still lot more to be done.We are continually tracking what needs to be done, not only for the policyholders but for all the stakeholders. Some of the things which we have done are relevant to the health insurance industry,” she said.
“I think yesterday, all of you would have seen that now we are allowing insurers to issue e-policy in the proposal form. I think that is need of the day. Slowly there will be distancing (physical) between intermediaries, agents and policyholders.We will quickly have to move into a system where this is going to become the norm of the day,” Alamelu said. She also stressed on the need to use cartoons and imagery by intermediaries and agents through digital means to make insurance products more appealing to people. “Insurance is classified as boring so more of cartoons and imagery will help. I think that will catch on with the public (fast),” she said at the ‘National E-Summit Health Insurance Under Covid Attack’ organised by industry body Assocham.