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12 Apr, 2022 | Weekly

Weekly Insurance Round-up Tuesday, April 12, 2022

Team Beshak
By Team Beshak
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Hello there! 👋

We're back with the next edition of Beshak's Weekly News Round-up - an analysis of all Insurance News & Updates, straight from our research desk! Don't forget to share your feedback with us, and give us a thumbs up if you find this helpful! 

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What's inside? 🧐

✴️ Life & Health insurance policies can be bought without physical signatures, as IRDAI extends timelines 

✴️ ICICI Securities partners with CoverStack to offer insurance 🤝


Life & Health insurance policies can be bought without physical signatures, as IRDAI extends timelines ⏳

  • As per a circular dated 31st March 2022, IRDAI has extended the timeline of not requiring physical signatures on life insurance proposal forms and allowing OTP-based validation until September 30, 2022.
  • For health insurance policies too, the timelines for dispensing with the physical papers and wet signatures on the proposal form have been extended till September 30, 2022.
  • The pandemic restrictions had made it difficult for people to buy new insurance coverage and hence, IRDAI had permitted insurers to obtain policyholder agreement via digital means.
  • This exemption was originally valid until March 31, 2021, however, IRDAI extended it until September 30, 2021, because of the second wave of the pandemic. 
  • Since many parts of the country are still affected by Covid-19, the exemption has been extended from March 31, 2022, to September 30, 2022.

Source: Economic Times

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ICICI Securities partners with CoverStack to offer insurance 🤝

  • ICICIdirect and CoverStack recently announced a partnership under which the entire insurance journey of ICICIdirect's customers will be powered by CoverStack.
  • Customers of ICICIdirect will be able to search, customise, compare and buy health as well as motor insurance plans using CoverStack.
  • CoverStack follows a plug-and-play model that provides technological solutions and insurance infrastructure to banking, financial services, and insurance players.
  • ICICIdirect is a registered corporate agent and offers insurance products from various life, general, and health insurance companies.

Source: LiveMint

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Team Beshak
Written by,
Team Beshak, We breathe insurance :)

We are a group of young members of the Beshak community. We come together to brainstorm, write relevant and useful content for people (just like us) who want to figure insurance on their own. If you too want to share inputs/write for us - send us a "hey" to info@beshak.org

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TAGS:
Health Insurance
Purchase
Opinion
COVID19
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