IRDAI
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Business
CRED Expands Insurance Offerings with Acko Partnership on CRED Garage
CRED has expanded its vehicle management platform, CRED Garage, by partnering with Acko Insurance, marking its fourth insurance collaboration alongside Zurich Kotak, Go Digit, and ICICI Lombard. CRED Garage, launched in 2022, allows users to manage vehicle expenses, track renewals, and monitor documents. The platform now includes services like vehicle pick-up for claims and discounts for high-credit-score users, rewarding responsible…
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Insurance
Game Changer for Policyholders: 30 Days to Say Yes or No: IRDAI Extends Policy “Free Look” Period
The Insurance Regulatory and Development Authority of India (IRDAI) is proposing significant changes to insurance regulations, as outlined in the draft Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests and Allied Matters of Insurers) Regulations, 2024. The key proposals include extending the “free look” period for policy returns to 30 days, making nomination mandatory for life policies,…
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Insurance
Renewing Your Car Insurance? Here’s What You Need to Know
Driving a car in India requires mandatory car insurance, and renewing your policy on time is crucial to avoid penalties and financial burdens in case of accidents. But amidst the process, confusion can arise about the required documents. The essential documents you need for a smooth car insurance renewal in India: Essential Documents: Identity Proof: Submit a copy of any government-issued…
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Insurance
IRDAI Takes Action to Address Complexities in Health Insurance Documents
In a significant move to enhance transparency and empower policyholders in the health insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated a simplified format for customer information sheets (CIS). The revised CIS, effective from January 1, 2024, aims to address the issue of legal complexities often embedded in insurance policy documents, which can leave policyholders…
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