IRDA PERMITS USAGE OF VIDEO-BASED KYC

At a time when coronavirus has upended our lives, IRDA strikes a move that eases compliance processes by reducing physical contact in line with new hygiene and social protocols. Following the footsteps of the Reserve Bank of India, the country’s insurance regulator IRDAI is set to soon allow insurance companies to use video-based authentication modes to vet customer credentials for new onboardings.