Telangana starts recognition of e-Motor Insurance policies
The Telangana government today started the recognition of \'e-Motor Insurance policies\' in the state, in collaboration with the Insurance Regulatory and Development Authority of India and the Insurance Information Bureau of India (IIB).
The Telangana government today started the recognition of 'e-Motor Insurance policies' in the state, in collaboration with the Insurance Regulatory and Development Authority of India and the Insurance Information Bureau of India (IIB).
The state's information technology minister KT Rama Rao formally launched the initiative, an official release said.
"It is expected that electronic motor insurance policies would help in the issuance of policies at the doorstep of the vehicle owners.
"These policies can be issued online across the country, thus paving the way for a host of benefits like faster issuance, removal of fraud, higher customer satisfaction, elimination of revenue leakages, analytics and so on," it said.
The e-motor insurance policy would be issued in a digital format, which can be seen in any smartphone. A Quick Response Code would also be issued, that can be scanned for verification of policy details, it added.
"Telangana is the first state in the country to formally recognize electronic motor insurance policies. This measure is likely to add to the citizens' convenience and also improve the compliance levels of motor insurance," the statement said.