The Insurance Regulatory and Development Authority (IRDAI) has also allowed India Post Payments Bank (IPPB) to sell health, motor, travel and other low sum insured products through point of sale persons. They can also help in the renewal of the policy.
New Delhi. India Post Payments Bank (IPPB) has partnered to sell non-life insurance products of Bajaj Allianz General Insurance. Bajaj Allianz said that these insurance products will include healthcare, personal accident and motor insurance policies. For this, Gramin Dak Sevak or Postman has been allowed to work as Point of Sale Person (POSP). They have been trained for the products sold through Point of Sale.
Insurance Services
Insurance Regulatory and Development Authority (IRDAI) has also approved the sale of health, motor, travel and other low sum insured products through point of sale persons. They can also help in the renewal of the policy. Bajaj Allianz said that about 2 lakh Gramin Dak Sevaks and postmen have been given micro ATMs and biometric devices. These will play an important role in the distribution of insurance products. Managing Director of India Post Payments Bank J. Venkataramu said that customers will be able to avail insurance services at their doorstep in an easy and convenient manner.
Increase the rural insurance products access
to this partnership between India Post Payments Bank and Bajaj Allianz will go a long way in delivering insurance products in rural and remote areas of the country (Rural Areas). In this, insurance products can be purchased digitally. With this, there will be no possibility of fraud or giving wrong information. India Post Payments Bank has a large network of 650 branches and over 1,36,000 banking access points. Not only this, India Post Payment Bank is now preparing to provide facilities like loans and mutual funds to its customers through third parties.
