The Insurance Regulatory Development Authority of India vide its notification dated 23rd March 2021 has allowed the Life Insurers to obtain the customer’s consent through electronic means, i.e., without requiring wet signature on the proposal form, for the business solicited by Individual Agents and Insurance Intermediaries, under all products, till 30th September 2021.
The Insurers have been asked to provide appropriate training to all persons involved in the sales or solicitation process to ensure that the consent of the customer is obtained only after clear information has been provided on the product being sold.
