IRDAI approves multiple proposals under the Regulatory Sandbox
The second tranche of proposals on launching policies under the regulatory sandbox were received by IRDAI from Non-Life, Life and Intermediaries. They made their recommendations to the Authority
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The second tranche of proposals on launching policies under the regulatory sandbox were received by IRDAI from Non-Life, Life and Intermediaries. They made their recommendations to the Authority.
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IRDAI has approved the following proposals under the Regulatory Sandbox. The period of approval is from 1st May, 2020 to 31st, October, 2020. The details of the approved proposals are as follows:
|
S.No |
Application ID |
Applicant Name |
Proposal Name |
NON-LIFE
|
1 |
44 |
Bajaj Allianz General Insurance Co Ltd |
V-Pay Motor Insurance Product |
|
2 |
78 |
TATA AIG General Insurance Co Ltd |
Standalone Own Damage Agreed |
|
|
|
|
Value Two Wheeler Policy |
|
3 |
85 |
Go Digit General Insurance Ltd |
Network based Accidental |
|
|
|
|
Insurance for Rented Motor Vehicle |
|
4 |
2 |
Reliance General Insurance Co Ltd |
Livelihood Protection |
|
5 |
131 |
TATA AIG General Insurance Co Ltd |
Parametric Insurance |
|
6 |
73 |
TATA AIG General Insurance Co Ltd |
Credit Insurance for TReDS |
|
|
|
|
Platform |
|
7 |
134 |
ICICI Lombard General Insurance Co |
Trade Credit Insurance for SME |
|
|
|
Ltd |
|
|
8 |
47 |
Bajaj Allianz General Insurance Co Ltd |
Total Business Protection |
|
9 |
75 |
TATA AIG General Insurance Co Ltd |
Loss limit Insurance |
|
|
|
LIFE |
|
|
10 |
67 |
ICICI PruLife Insurance Co Ltd |
Loyalty program |
|
11 |
232 |
India First Life Insurance Co Ltd |
Loyalty program |
|
12 |
33 |
HDFC Life Insurance Co Ltd |
Health India Account |
|
13 |
61 |
ICICI PruLife Insurance Co Ltd |
Health Savings |
|
14 |
62 |
ICICI PruLife Insurance Co Ltd |
Outpatient Health cover |
|
15 |
68 |
ICICI PruLife Insurance Co Ltd |
Disease management |
|
16 |
64 |
ICICI PruLife Insurance Co Ltd |
Dynamic term cover |
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