ISNP

Health Insurance

Insurance brokers in India are required to comply with Schedule III of the Insurance E-Commerce Guidelines relating to post-sales servicing. The following are the procedures, processes and timelines applicable to health insurance servicing.

General Service TATs

Issuance of Policy Document, Certificate of Insurance or Proposal Form

Eligibility: All required documents must be received from the policyholder.

Turnaround Time As specified by the respective insurer.

Medical Check-up and Medical Report Submission

Where a medical examination is required, the customer will proceed to the medical scheduling stage after completing the required payment. The medical appointment can be scheduled through the relevant option available.

Issuance of Endorsement

An endorsement is issued when a contractual change requested by the policyholder is accepted and incorporated into the policy by the insurer.

Turnaround Time: As specified by the respective insurer.

Changes in Policy Terms or Details

Correction of Date of Birth

A Date of Birth correction may be requested for the policyholder, life insured, nominee or trustee.

Required:

• Proof of Date of Birth
• Applicable additional premium, where required
• Other applicable documents requested by the insurer

Turnaround Time: As specified by the respective insurer.

Increase or Decrease in Sum Assured

A change in sum assured is allowed only at the time of renewal.

Required:

• Change request form
• Required premium
• Medical reports or medical examination, where applicable

Turnaround Time: As specified by the respective insurer.

Correction of Gender

The correct gender can be updated in the policy after submission of the required documents.

Required:

• Identity proof showing the Date of Birth matching the policy records
• Applicable premium, if required

Turnaround Time: As specified by the respective insurer.

Change of Name and Address

Change of Name

Required:

• Identity proof showing the Date of Birth matching the policy records in DD-MM-YY format
• Name change affidavit attested by a First Class Magistrate, as required under applicable state norms

Turnaround Time: As specified by the respective insurer.

Change of Address

Required:

• Self-attested address proof for the new address

Turnaround Time: As specified by the respective insurer.

Motor and Two-Wheeler Insurance

Insurance brokers in India are required to comply with Schedule III of the Insurance E-Commerce Guidelines relating to post-sales servicing of insurance policies. The following procedures and timelines apply to motor and two-wheeler insurance servicing.

Policy Document, Certificate of Insurance or Proposal Form

Eligibility: All required documents must be received from the policyholder.

Turnaround Time As specified by the respective insurer.

Vehicle Inspection and Video Inspection Report

Where inspection is required, the inspection is arranged and the video inspection report is submitted.

After the inspection, the insurer decides whether the vehicle is eligible for insurance. If the insurer recommends insurance, the customer proceeds with premium payment and policy issuance.

Issuance of Endorsement

An endorsement is issued when a contractual change requested by the policyholder is accepted and incorporated into the policy by the insurer.

Turnaround Time: As specified by the respective insurer.

Changes in Policy Terms or Vehicle Details

Correction of Date of Birth

A Date of Birth correction may be requested for the policyholder, life insured, nominee or trustee.

Required:

• Date of Birth change form
• Self-attested Date of Birth proof
• Applicable premium, where required
• Signed copy of the revised illustration, where applicable

Turnaround Time: As specified by the respective insurer.

Change in Vehicle Details

Changes to vehicle details may require the following:

• Registration Certificate (RC)
• Applicable premium

Additional premium may be required where there is a change related to:

• No Claim Bonus (NCB)
• Insured Declared Value (IDV)
• Ownership transfer
• Cubic capacity
• Fuel type
• CNG addition
• Manufacturing year
• Legal liability paid by driver
• Vehicle model or variant

Turnaround Time: As specified by the respective insurer.

Change of Name and Address

Change of Name

Required:

• RC copy
• Previous year's policy copy

Change of Address

Required:

• Self-attested valid address
• Proof of new address

Change of Nomination

A policyholder may nominate a person to whom the amount secured under the policy is payable in the event of death. The nomination can be changed.

Required:

• A signed request letter mentioning the name of the new nominee
• Email from the registered email ID mentioning the nominee's name and relationship

Turnaround Time: As specified by the respective insurer.

Life Insurance

Insurance brokers are required to comply with Schedule III of the Insurance E-Commerce Guidelines for the applicable insurance solicitation and servicing processes.

Digital E-Quote Generation

Life insurance quotes are generated after the customer provides the required basic information.

The information may include:

• Name
• Mobile number
• Email ID
• Date of Birth
• Gender
• Policy term
• Annual income
• Smoker or non-smoker declaration
• Required cover amount

Plan Selection and Insurer Product Page

After an e-quote is generated, the customer can view quotes from different insurance companies and select the insurance plan they wish to purchase.

The customer may then be directed to the relevant insurer's product page, where details of the selected plan and available riders are provided.

The insurer's product page also contains the information required to complete the policy purchase process before premium payment.

Payment Gateway

Customers are directed to the applicable payment gateway to make the premium payment.

Available payment options may include:

• Internet banking
• Debit card
• Credit card
• eWallets
• Other payment options made available through the payment gateway

The available payment options may change from time to time.

A standing instruction option may also be available for future renewal premiums, where applicable.

After completing the required steps, including proposal form submission, document upload and medical scheduling where required, the customer proceeds to online payment.

Life Insurance Proposal Process

Filling of Proposal Form

Information provided by the proposer or life insured is used for the insurer's underwriting process. The details entered in the proposal form must therefore be verified by the customer and authenticated through mobile OTP verification.

After completion of the proposal form and payment, a copy of the proposal form in PDF format and the payment acknowledgement are sent to the customer's registered email ID.

Information Covered in the Proposal Form

The proposal form may contain the following sections:

Personal Details

• Name
• Contact details
• Telephone number
• Mobile number
• Email address
• Education
• Nationality
• Marital status
• Relationship with the life insured, where the life insured is different from the proposer

Address Details

• Address
• City
• PIN code

Employment Details

• Salaried or self-employed status
• Employer
• Designation
• Income
• Nature of duties

Insurance History

• Details of existing insurance policies

Nominee Details

• Nominee name
• Relationship with the nominee

Lifestyle and Well-being

• Height
• Weight
• Travel
• Adventure activities

Health Details

• Previous or ongoing medical investigations
• Diagnosis
• Medical treatment
• Other applicable health disclosures

OTP Authentication

The customer's mobile number is required to receive the OTP.

Review and Acceptance

Before submission, the customer can review the information provided in the proposal form and the proposal details.

Documents to Be Uploaded

The customer may be required to submit self-attested copies of the following documents:

• Photograph
• Identity proof
• Age proof
• Address proof for communication and permanent address, where they are different
• Income proof
• Existing medical and medically relevant reports, where applicable

The exact documents required may depend on the insurer and the selected insurance product.

Medical Examination

Where a medical examination is required, the customer can select a date and time for the medical test.

The medical examination may be conducted at the customer's residence or the customer may be required to visit the insurer's designated diagnostic centre.

The applicable medical appointment details will be available through the medical scheduling process or communicated to the customer.

Underwriting and Policy Issuance

Policy underwriting and policy issuance are carried out by the respective insurer.

After the policy is issued, the insurer sends the policy documents to the customer's communication address. A soft copy of the policy may also be sent to the customer's registered email ID.

Change of Policy Terms and Details

Correction of Date of Birth

A Date of Birth correction may be requested for the policyholder, life insured, nominee or trustee.

Required:

• Date of Birth change form
• Self-attested Date of Birth proof
• Applicable premium, where required
• Signed copy of the revised illustration, where applicable

Turnaround Time: As specified by the respective insurer.

Collection of Renewal Premiums and Remittance to Insurers

For applicable renewal payments, the customer may be required to:

1. Select the insurer to whom the premium is payable.
2. Enter the policy number.
3. Enter the Date of Birth of the life insured.
4. Make the payment through the available payment gateway using internet banking, debit card, credit card or another available payment option.

A payment receipt will be sent to the customer's registered email ID within the period specified by the respective insurer.

Health Insurance Post-Sales Servicing

Insurance brokers in India are required to comply with Schedule III of the Insurance E-Commerce Guidelines for post-sales servicing. The following processes and timelines apply to health insurance policies.

Policy Document, Certificate of Insurance or Proposal Form

Eligibility: Receipt of all required documents from the policyholder.

Turnaround Time: As specified by the respective insurer.

Medical Check-up and Medical Report Submission

Where a medical examination is required, the customer proceeds to the medical scheduling stage after payment and can schedule the medical examination through the relevant option available.

Endorsement

An endorsement is issued when a contractual change requested by the policyholder is accepted and made in the policy by the insurer.

Turnaround Time: As specified by the respective insurer.

Date of Birth Correction

Eligibility: Proof of Date of Birth.

Where applicable, an additional premium may be required.

Turnaround Time: As specified by the respective insurer.

Increase or Decrease in Sum Assured

A change in sum assured is permitted only at renewal.

Required:

• Change request form
• Required premium
• Medical examination or medical reports, where applicable

Turnaround Time: As specified by the respective insurer.

Gender Correction

Required:

• Identity proof showing the Date of Birth matching the policy records
• Applicable premium, where required

Turnaround Time: As specified by the respective insurer.

Name Change

Required:

• Identity proof showing the Date of Birth matching the policy records in DD-MM-YY format
• Name change affidavit attested by a First Class Magistrate, as required under applicable state norms

Turnaround Time: As specified by the respective insurer.

Address Change

Required:

• Self-attested address proof for the new address

Turnaround Time: As specified by the respective insurer.

Motor and Two-Wheeler Post-Sales Servicing

Policy Document, Certificate of Insurance or Proposal Form

Eligibility: Receipt of all required documents from the policyholder.

Turnaround Time: As specified by the respective insurer.

Vehicle Inspection

Where an inspection is required, the inspection is arranged and the video inspection report is submitted.

The insurer decides whether insurance can be recommended after the inspection. If insurance is recommended, the customer proceeds with premium payment and policy issuance.

Endorsement

An endorsement is issued when a contractual change requested by the policyholder is accepted and incorporated into the policy by the insurer.

Turnaround Time: As specified by the respective insurer.

Date of Birth Correction

Required:

• Date of Birth change form
• Self-attested Date of Birth proof
• Applicable premium, where required
• Signed copy of revised illustration, where applicable

Turnaround Time: As specified by the respective insurer.

Change in Vehicle Details

Required:

• Registration Certificate (RC)
• Applicable premium, where required

Premium may be required where changes affect NCB, IDV, ownership transfer, cubic capacity, fuel type, CNG addition, manufacturing year, legal liability paid by driver, model or variant.

Turnaround Time: As specified by the respective insurer.

Change of Name

Required:

• RC copy
• Previous year's policy copy

Change of Address

Required:

• Self-attested valid address
• Proof of new address

Change of Nomination

The policyholder can nominate a person to whom the amount secured under the policy is payable in the event of death. The nomination can be changed.

Required:

• Signed request letter mentioning the new nominee's name
• Email from the registered email ID mentioning the nominee's name and relationship

Turnaround Time: As specified by the respective insurer.

Life Insurance Pre-Sales and Post-Sales Process

The life insurance process includes:

1. Submission of basic information for e-quote generation.
2. Comparison of available quotes from insurance companies.
3. Selection of an insurance plan.
4. Review of the selected insurer's product details and available riders.
5. Completion of the proposal form.
6. Submission of the required documents.
7. Medical examination, where applicable.
8. KYC completion, where applicable.
9. Premium payment through the available payment gateway.
10. Underwriting by the respective insurer.
11. Acceptance or rejection of the proposal by the insurer.
12. Policy issuance by the insurer.
13. Delivery of policy documents to the customer.

The applicable turnaround time for each insurer-dependent process will be as specified by the respective insurer.