Functions and responsibilities of Agency Distribution department
The following are the functions and responsibilities of Agency distribution department:
- Piloting Regulatory changes for individual and corporate Agents.
- Preparation of discussion papers relating to development of individual agents.
- Providing inputs to Inspection Department.
- Receiving and processing of complaints and grievances
- Processing reporting format changes
- Handling RTI and Parliamentary Questions
- Providing statistical information for annual reports and other hand books and monthly periodicals
- Processing of new and renewal applications of Corporate Agents.
- Verification of financials and annual returns of the Corporate Agents
- Cancellation/surrender of corporate agency licenses
- Preparation of discussion papers relating to development of corporate agency and bancassurance channels
- Facilitating information flow to other departments
- Inspection reports analysis and further processing
- Issues referred by other departments, ministry and other regulators.
- Updating of Corporate Agency Portal.
- Liaison with the vendor for enhancements to the Agency Portal