**Executive Summary:**
This document outlines the Insurance Regulatory and Development Authority of India's (IRDAI) regulations for the issuance of eInsurance policies. These regulations aim to govern the issuance of electronic policies and the submission of electronic proposal forms. The regulations take effect on October 1, 2016, and define the framework for insurers and policyholders concerning electronic insurance transactions.
**Key Points / Main Content:**
* **Preliminary Matters:**
* These regulations are called the "Insurance Regulatory and Development Authority of India (Issuance of eInsurance Policies) Regulations, 2016."
* They come into force on October 1, 2016.
* Definitions of key terms like "Act," "Authority," "eInsurance Account (eIA)," "esignature," "Digital Signature," "eproposal," and "einsurance policy" are provided.
* **eProposal Form:**
* Insurers soliciting business electronically must create an eproposal form similar to the approved physical form.
* The eProposal form must capture information electronically for easy processing.
* It should include a provision for capturing the eIA number, if available.
* Insurers must also provide a physical version of the eproposal form.
* Insurers must convert information from physical forms into electronic versions.
* Insurers must facilitate the creation of an eIA number if an electronic policy is proposed through the Insurance Repository System and the prospect does not have one.
* The prospect must provide an electronic signature on the eproposal form.
* **Issuance of Electronic Insurance Policies:**
* Insurers must issue electronic insurance policies that meet the criteria in Schedule I (based on Sum Assured or Premium).
* Electronic policies can be issued directly to policyholders or through registered Insurance Repositories.
* Policies issued electronically directly to the policyholder must also be issued in physical form, including copies of the proposal form, unless exempted by the Authority.
* Physical versions are not required for policies issued through Insurance Repositories, and proposal forms can be sent electronically.
* Electronic policies issued only in electronic form must be done through registered Insurance Repositories if not exempt by the Authority.
* Electronic Insurance Policies must be issued with a digital signature to be compliant.
* The physical form must replicate the electronic form.
* The operational framework is specified by the Authority's guidelines on Insurance repositories and electronic issuance.
* The same guidelines apply to electronic policies outside the stipulations of Schedule I.
* **Miscellaneous Provisions:**
* Insurers may offer discounts on premiums for electronic policies exempt from physical issuance, following filed discount rates or those specified by the Authority.
* Policyholders can register their choice to receive electronic policies with the insurer.
* Insurers must mandatorily issue electronic policies in disaster-prone and vulnerable areas as specified by the Authority.
* **Authority Powers:**
* The Chairperson of the Authority can issue clarifications, directions, and guidelines to resolve difficulties in the application or interpretation of these Regulations.
* **Schedule I:**
* Specifies Sum Insured or Single/Annual Premium criteria for electronic policy issuance based on the line of business.
* Microinsurance policies are exempted.
**Impact Analysis:**
* **Insurers:**
* *Impact:* Must establish systems for creating and managing eProposal forms, issuing electronic policies, and ensuring compliance with digital signature requirements. They may offer premium discounts for electronic policies.
* *Action Required:* Update systems and processes to comply with eProposal form requirements, electronic policy issuance, digital signature protocols, and develop operational frameworks according to Authority guidelines.
* **Policyholders:**
* *Impact:* Gain the option to receive electronic insurance policies, potentially with premium discounts. They may need to create an eInsurance Account (eIA) and provide electronic signatures.
* *Action Required:* Understand the benefits and requirements for obtaining electronic insurance policies, consider creating an eIA, and be prepared to provide electronic signatures on eProposal forms.
* **Insurance Repositories:**
* *Impact:* Play a key role in the issuance and storage of electronic insurance policies, particularly for policies issued only in electronic form.
* *Action Required:* Ensure systems are in place to support the electronic issuance and storage of insurance policies, as well as the secure transmission of policy information to policyholders.
Key Entities Referenced
Insurance Regulatory and Development Authority of India: The regulatory body responsible for overseeing and regulating the insurance industry in India. It is the primary authority issuing these regulations.
The Insurance Act, 1938: An Indian law relating to the regulation of the insurance industry. It is referenced as the basis for some of the powers exercised in the notification.
Insurance Regulatory and Development Authority Act, 1999: An Indian law that established the Insurance Regulatory and Development Authority of India. It is referenced as the basis for some of the powers exercised in the notification.
Insurance Advisory Committee: A committee that the Insurance Regulatory and Development Authority of India consults with when making regulations.
Issuance of eInsurance Policies Regulations, 2016: The title of the regulations being promulgated in this notification. These regulations concern the issuance of insurance policies in electronic form.
IT Information Technology Act, 2000: The Indian law governing information technology, including electronic signatures, which is relevant to the issuance of electronic insurance policies.
Hyderabad, Telangana: The city in Telangana, India, where the Insurance Regulatory and Development Authority of India is located and from where the notification was issued.
eInsurance Account (eIA): An electronic account where the portfolios of insurance policies of a policyholder are held in an electronic form.
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EXTRAORDINARY
Hkkx III—[k.M 4
PART III—Section 4
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PUBLISHED BY AUTHORITY
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No. 256] NEW DELHI, WEDNESDAY, JUNE 15, 2016/JYAISTHA 25, 1938
भभभभााााररररततततीीीीयययय बबबबीीीीममममाााा ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण
अअअअििििधधधधससससचचूूचचूू ननननाााा
हदै राबाद, 13 जून, 2016
भभभभााााररररततततीीीीयययय बबबबीीीीममममाााा ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण
((((ईईईई----बबबबीीीीममममाााा पपपपॉॉॉॉििििललललििििससससयययय(cid:13)(cid:13)(cid:13)(cid:13) ककककाााा ििििननननगगगगमममम(cid:16)(cid:16)(cid:16)(cid:16) )))) ििििववववििििननननययययमममम,,,, 2222000011116666
फफफफाााा.... सससस..ंं..ंं भभभभाााा....बबबबीीीी....ििििवववव....ििििवववव....(cid:1)(cid:1)(cid:1)(cid:1)ाााा....////ििििववववििििननननययययमममम////11116666////111122228888////2222000011116666....— "बीमा अिधिनयम, 1938" (1938 का 4) क(cid:2) धारा
114ए क(cid:2) उप-धारा 2 के खंड (जी बी) तथा बीमा िविनयामक और िवकास (cid:9)ािधकरण अिधिनय़म, 1999 (1999
का 41) क(cid:2) धारा 26 क(cid:2) उपधारा (1) के साथ प(cid:12)ठत बीमा अिधिनयम, 1938 (1938 का 4) क(cid:2) धारा 14 (2)
(cid:15)ारा (cid:9)द(cid:17) शि(cid:19)य(cid:21) का (cid:9)योग करते (cid:24)ए भारतीय बीमा िविनयामक और िवकास (cid:9)ािधकरण, बीमा सलाहकार
सिमित के साथ परामश (cid:27) करने के बाद, इलै(cid:31) ॉिनक पॉिलसी के िनग(cid:27)म और बीमा पॉिलिसय(cid:21) के इलै(cid:31) ॉिनक (cid:9)$ताव
फाम (cid:27) क(cid:2) (cid:9)$तुित के िलए इसके (cid:15)ारा िन(िलिखत िविनयम बनाता हःै
अअअअ(cid:19)(cid:19)(cid:19)(cid:19)ययययाााायययय I
(cid:1)(cid:1)(cid:1)(cid:1)ााााररररंंंंििििभभभभकककक
1. ससससििंंििंं (cid:22)(cid:22)(cid:22)(cid:22)(cid:23)(cid:23)(cid:23)(cid:23) ननननाााामममम औऔऔऔरररर (cid:1)(cid:1)(cid:1)(cid:1)ााााररररंंंंभभभभ
(i) य े िविनयम भारतीय बीमा िविनयामक और िवकास (cid:1)ािधकरण (ई-बीमा पॉिलिसय(cid:13) का िनग(cid:16)म)
िविनयम, 2016 के नाम स ेजाने जाएँग े।
(ii) य ेिविनयम 1 अ(cid:19)ूबर 2016 स े(cid:1)वृ(cid:24) ह(cid:13)गे।
3023 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
2222.... पपपप(cid:24)(cid:24)(cid:24)(cid:24)ररररभभभभााााषषषषााााएएएए ँँ ँँ
इन िविनयम(cid:13) म,(cid:28) जब तक संदभ (cid:16) से अ यथा अपेि"त न हो, -
(i) """"अअअअििििधधधधििििननननययययमममम"""" से समय-समय पर यथासंशोिधत बीमा अिधिनयम, 1938 (1938 का 4) अिभ(cid:1)ेत
ह;ै
(ii) """"(cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण"""" से बीमा िविनयामक और िवकास (cid:1)ािधकरण अिधिनयम, 1999 (1999 का 41) क$
धारा 3 के उपबंध(cid:13) के अधीन &थािपत भारतीय बीमा िविनयामक और िवकास (cid:1)ािधकरण अिभ(cid:1)ेत
ह;ै
(iii) """"ईईईई----बबबबीीीीममममाााा खखखखाााातततताााा"""" अअअअथथथथववववाााा """"ईईईईआआआआईईईईएएएए"""" ’कसी बीमा )रपोिज़टरी के पास ’कसी -ि(cid:19) के .ारा खोला
गया इलै12ॉिनक खाता ह ै िजसम (cid:28) पॉिलसीधारक क$ बीमा पॉिलिसय(cid:13) के संिवभाग इलै12ॉिनक 4प
म (cid:28)धा)रत ’कय ेजाते ह।5
(iv) "ईईईई----हहहह(cid:29)(cid:29)(cid:29)(cid:29)तततताााा(cid:22)(cid:22)(cid:22)(cid:22)रररर अअअअथथथथववववाााा इइइइलललल!!ैै!!ैै """"ॉॉॉॉििििननननकककक हहहह(cid:29)(cid:29)(cid:29)(cid:29)तततताााा(cid:22)(cid:22)(cid:22)(cid:22)रररर"""" का अथ(cid:16) वही होगा जैसा ’क समय-समय पर
यथासंशोिधत आईटी (सूचना (cid:1)ौ7ोिगक$) अिधिनयम, 2000 म (cid:28) िविन8द9 ह।ै
(v) """"ििििडडडडििििजजजजटटटटलललल हहहह(cid:29)(cid:29)(cid:29)(cid:29)तततताााा(cid:22)(cid:22)(cid:22)(cid:22)रररर"""" का अथ(cid:16) वही होगा जैसा ’क समय-समय पर यथासंशोिधत आईटी
अिधिनयम, 2000 म (cid:28) िविन8द9 ह।ै
(vi) """"ईईईई----(cid:1)(cid:1)(cid:1)(cid:1)(cid:29)(cid:29)(cid:29)(cid:29)तततताााावववव"""" अअअअथथथथववववाााा """"इइइइललललै!ै!ै!ै!""""ॉॉॉॉििििननननकककक (cid:1)(cid:1)(cid:1)(cid:1)(cid:29)(cid:29)(cid:29)(cid:29)तततताााावववव"""" से संभािवत :ाहक .ारा बीमा पॉिलसी के िलए अपने
इलै12ॉिनक ह&ता"र के साथ इलै12ॉिनक 4प म (cid:28) दािखल ’कया गया (cid:1)&ताव फाम (cid:16) अिभ(cid:1)ेत ह।ै
(vii) """"ईईईई----बबबबीीीीममममाााा पपपपॉॉॉॉििििललललससससीीीी"""" अअअअथथथथववववाााा """"इइइइललललै!ै!ै!ै!""""ॉॉॉॉििििननननकककक बबबबीीीीममममाााा पपपपॉॉॉॉििििललललससससीीीी"""" से वह पॉिलसी द&तावेज अिभ(cid:1)ेत होगा
जो बीमाकता (cid:16) .ारा जारी क$ गई बीमा संिवदा का सा<य ह ै तथा कानून .ारा िनधा(cid:16))रत लागू
उपबंध(cid:13) के अनुसार िडिजटल 4प म (cid:28) ह&ता")रत ह ै और इलै12ॉिनक 4प म (cid:28) बीमाकता (cid:16) .ारा
पॉिलसीधारक को सीधे अथवा पंजीकृत बीमा )रपोिज़टरी के =लेटफाम (cid:16) के मा>यम से जारी ’कया
गया ह।ै
(viii) इन िविनयम(cid:13) म(cid:28) (cid:1)यु(cid:19) और अप)रभािषत, परंतु बीमा अिधिनयम, 1938 (1938 का 4) अथवा
बीमा िविनयामक और िवकास (cid:1)ािधकरण अिधिनयम,1999(1999 का 41) अथवा उनके
अधीन बनाये गय े िनयम(cid:13) अथवा िविनयम(cid:13) म(cid:28) प)रभािषत शDद(cid:13) और अिभ-ि(cid:19)य(cid:13) के अथ(cid:16) वही
ह(cid:13)गे जो उन अिधिनयम(cid:13), िनयम(cid:13) अथवा िविनयम(cid:13) म(cid:28) Eमशः उनके िलए िनधा(cid:16))रत ’कये गये ह।5
अअअअ(cid:19)(cid:19)(cid:19)(cid:19)ययययाााायययय II
ईईईई----(cid:1)(cid:1)(cid:1)(cid:1)(cid:29)(cid:29)(cid:29)(cid:29)तततताााावववव फफफफाााामममम (cid:16)(cid:16)(cid:16)(cid:16)ततततथथथथाााा ईईईई----बबबबीीीीममममाााा पपपपॉॉॉॉििििललललससससीीीी ककककाााा ििििननननगगगगमम(cid:16)(cid:16)मम(cid:16)(cid:16)
3333.... ईईईई----(cid:1)(cid:1)(cid:1)(cid:1)(cid:29)(cid:29)(cid:29)(cid:29)तततताााावववव फफफफाााामममम (cid:16)(cid:16)(cid:16)(cid:16)
(i) इलै12ॉिनक िविध के मा>यम से बीमा -वसाय क$ अपे"ा करनेवाला (cid:1)Hयेक बीमाकता (cid:16) (cid:1)ािधकरण
.ारा अनुमो’दत भौितक (cid:1)&ताव फाम (cid:16) के समान ही एक ई-(cid:1)&ताव फाम (cid:16) िनIमत करेगा। इस
(cid:1)कार के फाम (cid:16) को ऐसा होना चािहए ’क इसस े इलै12ॉिनक 4प म (cid:28) सूचना :हण ’कया जा सके
िजसस े सरलतापूव(cid:16)क संसाधन ((cid:1)ॉसेJसग) और सIवJसग संभव हो सके।¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
(ii) ई-(cid:1)&ताव फाम (cid:16) म (cid:28) इलै12ॉिनक बीमा खाता (ईआईए) सKं या को :हण करने के िलए भी -व&था
होगी िजस ेसंभािवत :ाहक .ारा जहाँ भी उपलDध हो वहाँ भरा जाएगा।
(iii) इस (cid:1)कार का (cid:1)Hयेक बीमाकता (cid:16) ऊपर (i) और (ii) पर उिLलिखत 4प म (cid:28) ई-(cid:1)&ताव फाम (cid:16)का भौितक
पाठ भी उपलDध करायेगा। जहाँ सूचना भौितक 4प म (cid:28) (cid:1)ाN क$ गई हो, वहाँ बीमाकता (cid:16) संभािवत
:ाहक(cid:13) .ारा (cid:1)&तुत क$ गई सूचना को इलै12ॉिनक पाठ के 4प म (cid:28) प)रवIतत करन े के िलए
आवPयक -व&था करेगा।
(iv) य’द संभािवत :ाहक के पास ईआईए संKया नहQ ह,ै तो जहाँ भी इलै12ॉिनक बीमा पॉिलसी को
बीमा )रपोिज़टरी (cid:1)णाली के मा>यम से जारी करना (cid:1)&तािवत हो वहाँ बीमाकता (cid:16) ईआईए संKया
के िनमा(cid:16)ण म (cid:28)सहायता (cid:1)दान करेगा।
(v) जब संभािवत :ाहक ई-(cid:1)&ताव फाम (cid:16) म (cid:28) िववरण (cid:1)&तुत करता ह,ै तब उसम (cid:28) उसके इलै12ॉिनक
ह&ता"र ह(cid:13)गे।
4444.... इइइइललललै!ै!ै!ै!""""ॉॉॉॉििििननननकककक बबबबीीीीममममाााा पपपपॉॉॉॉििििललललििििससससयययय(cid:13)(cid:13)(cid:13)(cid:13) ककककाााा ििििननननगगगगमम(cid:16)(cid:16)मम(cid:16)(cid:16) ःःःः
(i) (cid:1)Hयेक बीमाकता (cid:16) वे इलै12ॉिनक बीमा पॉिलिसया ँ जारी करेगा जो बीिमत रािश अथवा (cid:1)ीिमयम के
अनुसार अनुसूची I म (cid:28) ’दय े गय े मानदडं (cid:13) को पूरा करती ह।5
(ii) इलै12ॉिनक बीमा पॉिलिसया ँ बीमाकता(cid:16)S .ारा पॉिलसीधारक(cid:13) को सीधे अथवा पंजीकृत बीमा
)रपोिज़ट)रय(cid:13) के मा>यम से जारी क$ जा सकती ह।5
(iii) बीमाकता (cid:16) .ारा पॉिलसीधारक को सीधे इलै12ॉिनक 4प म (cid:28) जारी क$ गई सभी पॉिलिसया ँ भौितक
4प म (cid:28) भी जारी क$ जाएँगी। ऐस ेसभी मामल(cid:13) म (cid:28) (cid:1)&ताव फाम (cid:16) आ’द क$ (cid:1)ितया ँ भी भौितक 4प म (cid:28)
भेजी जाएँगी:
बशतU ’क (cid:1)ािधकरण इस बात से संतु9 होने पर ’क ऐसा करना पॉिलसीधारक(cid:13) के िहत म (cid:28)ह ैऔर बीमा
उ7ोग क$ सु-वि&थत वृिV के िलए आवPयक ह,ै भौितक 4प म (cid:28) ऐस े िनग(cid:16)म स े छूट (cid:1)दान कर
सकता ह:ै
परंतु आगे यह भी शत(cid:16) होगी ’क ऐसी छूट(cid:13) के संबंध म (cid:28) शतX िनधा(cid:16))रत क$ जा सकती ह 5 िज ह (cid:28)
बीमाकता (cid:16).ारा पूरा ’कया जाएगा:
(iv) जब इलै12ॉिनक बीमा पॉिलिसया ँ पंजीकृत बीमा )रपोिज़ट)रय(cid:13) के =लेटफाम (cid:16) के मा>यम से जारी
क$ जाती ह,5 तब इलै12ॉिनक बीमा पॉिलिसय(cid:13) का भौितक पाठ जारी करन े क$ आवPयकता नहQ
होगी। इसी (cid:1)कार, इलै12ॉिनक बीमा पॉिलिसय(cid:13) के साथ बीमाकृत -ि(cid:19) को (cid:1)&ताव फाम (cid:16) आ’द
क$ (cid:1)ितया ँ भी इलै12ॉिनक 4प म (cid:28)भेजी जा सकती ह।5
(v) ऊपर (iii) पर िनधा(cid:16))रत 4प म (cid:28) (cid:1)ािधकरण स े िजन इलै12ॉिनक बीमा पॉिलिसय(cid:13) को छूट (cid:1)ाN नहQ
ह,ै य’द वे केवल इलै12ॉिनक 4प म (cid:28) जारी क$ जाती ह 5 तो केवल पंजीकृत बीमा )रपोिज़ट)रय(cid:13) के
मा>यम से ही जारी क$ जाएँगी।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(vi) इलै12ॉिनक बीमा पॉिलिसय(cid:13) को अनुपालनकता(cid:16) केवल तभी माना जाएगा जब वे कानून .ारा
िनधा(cid:16))रत लागू उपबंध(cid:13) के अनुसार िडिजटल ह&ता"र के साथ जारी क$ जाती ह।5
(vii) ऊपर (iii) म (cid:28) उिLलिखत इलै12ॉिनक बीमा पॉिलसी का भौितक 4प इलै12ॉिनक 4प क$ (cid:1)ितकृित
होगा।
(viii) इलै12ॉिनक बीमा पॉिलिसय(cid:13) के िनग(cid:16)म के िलए प)रचालनगत ढाँचा बीमा )रपोिज़ट)रय(cid:13) और इस
उZPे य स े जारी क$ जानेवाली बीमा पॉिलिसय(cid:13) के इलै12ॉिनक िनग(cid:16)म के संबंध म (cid:28) ’दशािनदUश(cid:13) के
अंतग(cid:16)त (cid:1)ािधकरण .ारा िविन8द9 4प म (cid:28)होगा।
(ix) अनुसूची-I म (cid:28) िनधा(cid:16))रत शत[ के दायरे से बाहर ि&थत इलै12ॉिनक बीमा पॉिलिसय(cid:13) के िनग(cid:16)म के
िलए, ऊपर (viii) म (cid:28) उिLलिखत ’दशािनदशU भी लागू ह(cid:13)गे।
5555.... ििििववववििििववववधधधध
i. इइइइललललै!ै!ै!ै!""""ॉॉॉॉििििननननकककक बबबबीीीीममममाााा पपपपॉॉॉॉििििललललििििससससयययय(cid:13)(cid:13)(cid:13)(cid:13) पपपपरररर छछछछूूूूटटटट –––– बीमाकता (cid:16) ऐसी इलै12ॉिनक बीमा पॉिलिसय(cid:13) के िलए िज ह (cid:28)
भौितक 4प म (cid:28) जारी करने से छूट (cid:1)ाN ह,ै पॉिलसीधारक(cid:13) को (cid:1)ीिमयम दर(cid:13) म (cid:28) छूट (िड&काउंट) का
(cid:1)&ताव कर सकता ह।ै ऐसी छूट उHपाद अनुमोदन के अंतग(cid:16)त दािखल क$ गई छूट क$ दर(cid:13) अथवा
फाइल ए\ड यूज़ ’दशािनदशU (cid:13) अथवा (cid:1)ािधकरण .ारा िविन8द9 4प म (cid:28)होगी।
ii. ववववततततमम(cid:16)(cid:16)मम(cid:16)(cid:16) ाााानननन पपपपॉॉॉॉििििललललििििससससययययाााा ँँ ँँ –––– पॉिलसीधारक जो इलै12ॉिनक बीमा पॉिलसी क$ सुिवधा का उपयोग करन े
चाहते ह,5 बीमाकता (cid:16)के पास अपने िवकLप को पंजीकृत करवा सकते ह।5
iii. आआआआपपपपददददाााा (cid:1)(cid:1)(cid:1)(cid:1)ववववणणणण औऔऔऔरररर अअअअ&&&&यययय अअअअससससररुुररुु िििि(cid:22)(cid:22)(cid:22)(cid:22)तततत (cid:22)(cid:22)(cid:22)(cid:22)))ेे))ेे (cid:13)(cid:13)(cid:13)(cid:13) मममम ** **ईईईई----बबबबीीीीममममाााा पपपपॉॉॉॉििििललललििििससससयययय(cid:13)(cid:13)(cid:13)(cid:13) ककककाााा अअअअििििधधधधददददशशेेशशेे ाााा----ममममकककक ििििननननगगगगमम(cid:16)(cid:16)मम(cid:16)(cid:16) ––––
(cid:1)Hयेक बीमाकता (cid:16) (cid:1)ािधकरण .ारा िविन8द9 4प म (cid:28) आपदा (cid:1)वण और असुरि"त "े](cid:13) म (cid:28) इलै12ॉिनक
बीमा पॉिलिसया ँअिधदेशाHमक तौर पर जारी करेगा।
6666.... (cid:29)(cid:29)(cid:29)(cid:29)पपपप....ीीीीककककररररणणणण आआआआ1111दददद जजजजााााररररीीीी ककककररररनननन ेे ेेककककेेेे ििििललललएएएए (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण कककक2222 शशशशिििि3333ःःःः
इन िविनयम(cid:13) के ’कसी भी उपबंध को लागू करने अथवा उसका अथ(cid:16)िनण(cid:16)य करने म (cid:28) ’कसी भी क)ठनाई को
दरू करने के िलए (cid:1)ािधकरण का अ>य" प)रप](cid:13) / ’दशािनदUश(cid:13) के 4प म (cid:28) &प9ीकरण, िनदशU और
’दशािनदUश जारी कर सकता ह।ै
अअअअननननससुुससुु चचूूचचूू ीीीी----I
बबबबीीीीििििममममतततत ररररााााििििशशशश**** ((((ससससममममाााानननन एएएएककककलललल //// ववववाााा7777षषषषकककक (cid:1)(cid:1)(cid:1)(cid:1)ीीीीििििममममययययमममम****
4444ववववससससाााायययय कककक2222 पपपप5555िििितततत
अअअअथथथथववववाााा अअअअििििधधधधकककक)))) ((((6666पपपपयययय))))ेेेे ((((ससससममममाााानननन अअअअथथथथववववाााा अअअअििििधधधधकककक))))
िवशुV अविध (आरओपी सिहत अविध को छोड़कर)** 10,00,000/- 10,000/-
िवशुV अविध को छोड़कर अ य (आरओपी सिहत अविध
1,00,000/- 10,000/-
को िमलाकर)**
प(cid:28)शन पॉिलिसया ँ लागू नहQ 10,000/-
तHकाल वाIष’कया ँ (प(cid:28)शन (cid:1)ित वष)(cid:16) लागू नहQ 10,000/-
मोटर को छोड़कर सभी खुदरा साधारण बीमा पॉिलिसयाँ 10,00,000/- 5,000/-
वैयि(cid:19)क &वा&‘य 5,00,000/- 10,000/-¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 5
मोटर खुदरा सभी पॉिलिसया ँ सभी पॉिलिसया ँ
-ि(cid:19)गत वैयि(cid:19)क दघु (cid:16)टना और
10,00,000/- 5,000/-
िविवध घरेल ू या]ा
-ि(cid:19)गत या]ा बीमा (िवदेशी) सभी पॉिलिसयाँ
*इलै12ॉिनक पॉिलसी जारी क$ जाएगी, य’द बीिमत रािश अथवा एकल /वाIषक (cid:1)ीिमयम मानदडं पूरा ’कया
जाए।
**सू<म बीमा पॉिलिसया ँछूट (cid:1)ाN ह।5
टी. एस. िवजयन, अ>य"
[िवbापनIII/4/असा./161/16]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION
Hyderabad, the 13th June, 2016
Insurance Regulatory and Development Authority of India
(Issuance of e-Insurance Policies) Regulations, 2016
F .No. IRDAI/Reg/16/128/2016 - In exercise of the powers conferred by section 14 (2) read with clause (gb) of
sub section 2 of section 114A of “The Insurance Act, 1938” and subsection (1) of Section 26 of the Insurance
Regulatory and Development Authority Act, 1999 (41 of 1999), the Insurance Regulatory and Development Authority of
India, in consultation with the Insurance Advisory Committee, hereby makes the following Regulations for Issuance of
electronic policy and submission of electronic proposal form of insurance policies:
CHAPTER I
Preliminary
1. Short title and commencement
(i) These Regulations may be called the Insurance Regulatory and Development Authority of India (Issuance of
e-Insurance Policies) Regulations, 2016.
(ii) They shall come into force from 1st October, 2016.
2. Definitions
In these regulations, unless the context otherwise requires:-
(i) “Act” means the Insurance Act, 1938 (4 of 1938) as amended from time to time;
(ii) “Authority” means the Insurance Regulatory and Development Authority of India established under the
provisions of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);
(iii) “e-Insurance Account” or “eIA” is an electronic account opened by a person with an insurance repository
wherein the portfolios of insurance policies of a policyholder are held in an electronic form.
(iv) “e-signature or electronic signature” shall have the same meaning as specified in the IT (Information
Technology) Act, 2000 as amended from time to time.
(v) “Digital Signature” shall have the same meaning as specified in the IT Act, 2000 as amended from time to
time.
(vi) “e-proposal” or “electronic proposal” means a proposal form for an insurance policy filed in electronic
form by the prospect with his electronic signature.
(vii) “e-insurance policy” or electronic insurance policy” shall mean a policy document which is an evidence of
insurance contract issued by an insurer and digitally signed in accordance with the applicable provisions6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
prescribed by law and issued in an electronic form either directly to the policyholder by the insurer or through
the platform of registered Insurance repository.
(viii) All words and expressions used herein and not defined in these Regulations but defined in the Insurance Act,
1938(4 of 1938), or in the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) or Rules
or Regulations made thereunder shall have the same meanings respectively assigned to them in those Acts,
Rules or Regulations.
CHAPTER II
e- Proposal Form & Issuance of e-Insurance Policy
3. e-proposal form
(i) Every insurer soliciting insurance business through electronic mode shall create an e-proposal form similar
to the physical proposal form approved by the Authority. Such form should enable capture of information in
electronic form that would enable easy processing and servicing.
(ii) The e-Proposal form shall also have a provision to capture the electronic Insurance Account (eIA) number
which shall be filled by prospect wherever available.
(iii) Every such insurer shall also make available physical version of e-proposal form as mentioned at (i) & (ii)
above. Where the information is captured in physical form, then the insurer shall make necessary
arrangements to convert the information furnished by prospects into electronic version.
(iv) In case the prospect does not have an eIA number, the insurer shall facilitate the creation of eIA number
wherever the electronic insurance policy is proposed to be issued through the Insurance Repository System.
(v) When the prospect furnishes the details in e-proposal form, it shall carry his electronic signature.
4. Issuance of electronic Insurance Policies:
(i) Every insurer shall issue electronic insurance policies that fulfill the criteria given in Schedule I in terms of
Sum Assured or Premium.
(ii) Electronic insurance policies may be issued by the Insurers either directly to the policyholders or through the
registered Insurance Repositories.
(iii) All policies issued in electronic form by the Insurer directly to the policyholder shall also be issued in
physical form. In all such cases, copies of the proposal form, etc shall also be sent in physical form :
Provided that the Authority, on being satisfied that it is in the interests of policyholders and for orderly
growth of Insurance Industry, exempts such issuance in physical form:
Provided further that such exemptions may stipulate conditions specified to be fulfilled by the Insurer.
(iv) Physical version of the electronic insurance policies need not be issued when electronic insurance policies
are issued through the platform of registered Insurance Repositories. Similarly, copies of the proposal form
etc may also be sent in electronic form to the insured along-with electronic insurance policies.
(v) The electronic insurance policies not exempt by the Authority as stipulated at (iii) above shall, if issued only
in electronic form, be only through the registered Insurance repositories.
(vi) Electronic Insurance Policies shall be deemed compliant only when issued with digital signature in
accordance with applicable provisions prescribed by law.
(vii) The physical form of the electronic Insurance Policy referred in (iii) above shall be a replica of the electronic
form.
(viii) For the issue of electronic insurance policies, the operational framework would be as specified by the
Authority under the guidelines on Insurance repositories and electronic issuance of insurance policies issued
in this behalf.
(ix) For the issue of electronic insurance policies that are outside the ambit of the stipulations prescribed in
Schedule-I, the guidelines referred in (viii) above shall also apply.¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 7
5. Miscellaneous
i. Discount on electronic insurance policies – An insurer may offer discount in the premium rates to the
policyholders for such electronic insurance policies exempt from issuance in physical form. Such discount shall
be in accordance with the discount rates filed under the Product Approval or the File & Use guidelines or as
specified by the Authority.
ii. Existing policies – The policyholders who wish to avail the facility of electronic insurance policy may register
their choice with the insurer.
iii. Mandatory issuance of e-insurance policies in disaster prone and other vulnerable areas – Every insurer
shall mandatorily issue electronic insurance policies in disaster prone and vulnerable areas as specified by the
Authority.
6. Power of the Authority to issue clarifications etc:
In order to remove any difficulties in application or interpretation of any of the provisions of these Regulations, the
Chairperson of the Authority may issue clarifications, directions and guidelines in the form of circulars/guidelines.
SCHEDULE I
Sum Insured* (equal to or Single/Annual Premium*
Line of Business
exceeding) (in Rs.) (equal to or exceeding)
Pure term (excluding term with ROP)** 10,00,000/- 10,000/-
Other than Pure term (including term with ROP)** 1,00,000/- 10,000/-
Pension policies NA 10,000/-
Immediate Annuities
NA 10,000/-
(Pension p.a.)
All retail General Insurance policies except Motor 10,00,000/- 5,000/-
Individual Health 5,00,000/- 10,000/-
Motor Retail All policies All policies
Individual Personal Accident
10,00,000/- 5,000/-
& Domestic Travel
Miscellaneous
Individual Travel Insurance
All Policies
(Overseas)
* Electronic policy shall be issued if either the Sum Insured or Single/Annual Premium criteria is met.
** Micro-insurance policies are exempted :
T .S. VIJAYAN, Chairman
[ADVT. III /4/Exty./161/16]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.