Insurance Policy Likely In 5 States

02 January,Hyderabad

The Electronic Motor Insurance policies called as E-Vahan Bima which was launched first in India in Telangana today is likely to adopt the same in five other states in the country.

“We are in dialogue five other states Delhi, NCR, Karnataka, Kerala, Mandhra Pradesh and Rajashtan on implementation of Electronic Motor Insurance policy(EMIP),” said R Raghavan, CEO, Insurance Information Bureau of India (IIB) on the sidelines of launching of E-Vahan Bima by Telangana IT Minister K T Rama Rao, here Saturday.

To a question, eventually, it (policy) can be adopted in other states but it is up to the local government to adopt, the minister said.

When asked about adopting of e-RC book and E-license, Mr Rama Rao said that the initiative would start first in Telangana and eventually in other states.

e-insurance policy is a digitally signed insurance contract issued in an electronic form by an insurer either directly to the policy-holder or through the platform of registered Insurance repository, the minister said

Insurance of electronic motor policies can be seen in the light of compliance with the law, cost efficiency, faster delivery of insurance policies and arresting fraud, he said, adding, as a part of digital initiative, all the motor insurance policies, especially in the Telangana will be issued in electronic form with a quick response (QR) code for ease of the citizens as well as for verification by the enforcement agencies.