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From Covid-19 insurance to easier KYC norms: IRDAI's initiatives in 2020


From Corona Kavach to Corona Rakshak, insurance regulator IRDAI made intense efforts throughout the pandemic-disrupted 2020 to ensure adequate choice of insurance policies for individuals that cover treatment costs for coronavirus-related health issues.
This year, the regulator s noteworthy initiatives include introduction of standard products with a view to enhance consumer confidence as well as easier Know Your Customer (KYC) norms.
As COVID-19 started spreading in March, the watchdog asked insurers to expeditiously settle hospitalisation claims concerning treatment related to coronavirus infections.
And the Insurance Regulatory and Development Authority of India (IRDAI) also directed insurance companies to design specific products to cover the cost of treatment related to coronavirus. Soon, short-term Corona Kavach policy was launched. ....

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Catering To Consumers In Coronavirus Times IRDAI Pushes New Products Easier KYC Norms


BW Businessworld
Catering To Consumers In Coronavirus Times, IRDAI Pushes New Products, Easier KYC Norms
The COVID-19-specific products came out in July. Prior to that, there were a handful of such covers but those were mostly low sum-assured products.
Photo Credit : Shutterstock
From Corona Kavach to Corona Rakshak, insurance regulator IRDAI made intense efforts throughout the pandemic-disrupted 2020 to ensure adequate choice of insurance policies for individuals that cover treatment costs for coronavirus-related health issues.
This year, the regulator s noteworthy initiatives include introduction of standard products with a view to enhance consumer confidence as well as easier Know Your Customer (KYC) norms. ....

Aarogya Sanjeevani , Niraj Shah , Corona Rakshak , Tarun Mathur , Parag Raja , Akash Anand , Saral Jeevan Bima , Corona Kavach , Anand Roy , Star Health , Development Authority Of India , From Corona Kavach , Know Your Customer , Insurance Regulatory , Development Authority , Chief Business Officer , Chief Financial Officer , One Time Password , Saral Jeevan , Managing Director , Allied Insurance , ஆரோக்கிய சஞ்சீவானி , நிராஜ் ஷா , கொரோனா ரக்ஷக் , தருண் மாதூர் , பராக் ராஜா ,