IRDA issues Exposure Draft on Guidelines on Web Aggregators

Exposure Draft on Guidelines on Web Aggregators

The use of internet is growing rapidly in India. Buyers of Insurance products increasingly access / visit websites to know the features and to compare prices of the products offered by different insurers. This has led to the emergence of dedicated websites known as ‘web aggregators’ offering information on insurance products. The concept of web aggregator is of online enquiry or shopping where a client could get information and premium quotes on all types of policies across Insurance companies at one point. 

With a view to bringing in uniformity in display of Prices and Key Features of the insurance products by the web sites, to protect the interests of the clients and to rationalize the approach to be adopted by Insurers / Brokers in dealing with various websites that offer price comparisons and display the key features of products, the Authority proposes to issue Guidelines on ‘Web Aggregators’. An exposure draft of the guidelines is attached as annexure.

Comments are invited from all the stakeholders including insurers, insurance distributors, policyholders, consumer bodies, general public and all other interested parties. The comments may be forwarded to Mr. V Sai Kumar, OSD (Life) at vsaikumar@irda.gov.in on or before 31.03.2011.

(A Giridhar)

Executive Director

Date: 16th March, 2011.

Download Exposure Draft on Guidelines on Web Aggregators

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