Insurance Regulatory and Development Authority of India
Ref. IRDAUGA&HR/ORD/CMT/105/05/2023
Date: 15.05.2023
ORDER
Presently, the UIDAI framework allows insurance companies to identify the customer by using his/her Aadhaar with consent management. In the absence of the Unique Customer Identification in the insurance sector, insurance companies are facing various issues while providing the services and claims apart from ease of onboarding the customers, circumventing possible frauds etc.
2. In order to facilitate ease of doing KYC and allied matters using Aadhaar, a Task Force has been constituted with the following composition:-
i) Member (F&I), IRDAI — Chairperson
ii) Ms. P. Sangeetha, DDG, UIDAI, Regional Office, Hyderabad — Member
iii) Ms. Vibha Padalkar, CEO, HDFC Life Insurance Company Ltd. — Member
iv) Mr. Tapan Singhal, CEO, Bajaj Allianz General Insurance Company Ltd. —Member
v) Mr. Mayank Bathwal, CEO, Aditya Birla Health Insurance Company Ltd. —Member
vi) Executive Director (Life), IRDAI — Member
vii) Chief General Manager (Health), IRDAI — Member
viii) Chief General Manager (Non-Life), IRDAI — Member
ix) Chief General Manager (Intermediaries), IRDAI — Member
x) Secretary General, Life Insurance Council — Member
xi) Secretary General, General Insurance Council — Member
xii) Team InsurTech — Convener
3. The proposed Terms of Reference for the Committee may be as follows:-
i) Suggest measures for ease of onboarding of customers using Aadhaar.
ii) Suggest measures for fraud management at Underwriting and Claims stages using Aadhaar.
iii) Facilitate eKYC / Off-line KYC by Insurers, Intermediaries and Agents.
iv) Suggest measures for improving traceability of customers / beneficiaries to reduce unclaimed amounts of policyholders.
v) Facilitating insurers to access National Death Registry using Aadhaar.
vi) Linking of ABHA ID with Aadhaar.
vii) Facilitating insurers to access Annuity Life Certificates (Jeevan Pramaan).
viii) Facilitating insurers to access Bank Account Details of Policyholders by linking Aadhaar Number (similar to CKYC).
ix) Facilitating “Reverse Seeding” by insurers where Aadhaar is not available.
x) Facilitating pay-outs to policyholders through Aadhaar Payment Bridge.
xi) Facilitating provisions for enabling storing of Aadhaar of Policyholders by Insurers
xii) Any other related or allied matters.
4. The Committee shall submit its report within ONE Month from the date of this Order.
This has approval of the Competent Authority.
(PS Jagannatham)
Chief General Manager (GA & HR)
