BUSINESS

IRDAI seeks details of agents

IRDAI has directed insurers as well as insurance marketing firms (IMFs) to upload details of individual agents and insurance sales persons respectively into a central database of the Insurance Information Bureau of India by this month.

The second phase of the database, called Envoy, is ready, the regulator said in a recent communication to insurers and IMFs.

Insurers are advised to complete upload of their data not later than June 30, 2018, IRDAI Member (Non Life) P.J. Joseph said in the circular. The number of individual agents with life insurers was more than 20.88 lakh in 2016-17.