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Under Irda Watch

To make online information more reliable, the Insurance Regulatory and Development Authority (Irda) will soon be regulating the online insurance information providers.

Pritam P Hans | Print Edition: April 2011

When you are looking to buy insurance policy, where do you head for information? Chances are you go to one of the insurance information websites that provide you a comparative list of policies being provided by various insurers at one place.

To make online information more reliable, the Insurance Regulatory and Development Authority (Irda) will soon be regulating the online insurance information providers. These online information providers will have to obtain permission from Irda, according to a draft guideline issued on March 16, 2011.

"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," the insurance regulator said in a statement.

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