Document Detail

Title: Press Release
Reference No.: --
Date: 03/06/2020
3rd tranche of approvals under the Regulatory Sandbox

PRESS RELEASE

 

Attention is drawn to Authority’s Press Release dated 16-09-2019 inviting applications for the Regulatory Sandbox from 15th September, 2019 till 14th October, 2019.

 

The Evaluation Committee constituted as per the Authority order dated 25th October, 2019 has evaluated third tranche of proposals related to Non-Life, Life, Health and Intermediaries and made their recommendations to the Authority.


Under the powers granted to Chairman, IRDAI under Reg 6 of the IRDAI (Regulatory Sandbox) Regulations, 2019, the Authority approves the following proposals under the Regulatory Sandbox. The period of approval is from 1st July, 2020 to 31st December, 2020. The details of the approved proposals are as follows:

 S.No

Application ID

Applicant Name

Proposal Name

NON-LIFE

1

19

Acko General Ins Co Ltd

Modular Product for Two Wheeler

2

80

Liberty General Ins Co Ltd

Zero Compulsory Deductible Cover (Liberty Assure)

3

3

Reliance General Ins Co Ltd

Insurance Gift Card

LIFE

4

217

PNB Met Life Ins Co Ltd

G-Sec index linked plan (non-Par)

5

161

Future Generali Life Ins Co Ltd

10 year Insurance Savings Account  (Non-Par)

INTERMEDIARIES/ DISTRIBUTION DEVELOPMENT

6

203

Acko Gen Ins Co Ltd

Crowd funding of premium

7

220

SBI Gen Ins Co Ltd

Women (Door to Door) Distribution Force-Mahila Shakti

8

223

SBI Gen Ins Co Ltd

Simplified Policy Documents

9

156

Aditya Birla Sun Life Insurance Co Ltd

Digital Wallet Program 

10

207

Policybazaar Insurance Web Aggregator Pvt Ltd jointly with Go Digit Gen Ins Co Ltd

Wearables with Health Insurance

11

212

Finsall Resources Pvt. Ltd. jointly with Oriental Insurance Co Ltd

Insurance premium financing

HEALTH DEPARTMENT

12

199

Acko Gen Ins Co Ltd

Value Added Service (VAS)- Travel

13

163

Acko Gen Ins Co Ltd

Value Added Services – Health

14

172

Acko Gen Ins Co Ltd

Network Provider – Health

15

71

Go Digit Gen Ins Co Ltd

Formation of Group for the Purpose of Group Insurance

16

148

ICICI Lombard Gen Ins Co Ltd

Critical Illness Short Term Plan

17

157

ICICI Lombard Gen Ins Co Ltd

Affiliated Products

18

160

ICICI Lombard Gen Ins Co Ltd

Wearable Device to New Customers

 Dated: 3rd June, 2020

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