NEW IRDA PORTAL AIMS TO EDUCATE CONSUMERS

New Delhi: As insurance penetration remains relatively low in India, sector regulator IRDA has launched a website to educate consumers for buying insurance cover.

“The consumer education website www.policyholder.gov.in will provide useful information for the benefit of policyholders and prospects,” Insurance Regulatory and Development Authority (IRDA) said.

The portal would provide tips on buying insurance, standard claim procedures and documentations, besides do’s and don’ts for a policyholder. It would also provide general alerts, ways to deal with intermediaries and FAQs.

Despite nationalisation of the sector in 1956, its penetration has just increased to 5.1 per cent in 2010, from 2.71 per cent in 2001 mainly due to financial vulnerability across most income segments. — PTI