What does the IRDAI’s latest circular on communication concern address?

The IRDAI or Insurance Regulatory and Development Authority of India recently released a circular addressing communication concerns of policyholders.

According to the new circular, insurers are required to collect phone number and e-mail ID of the policyholder when the policy is bought and regularly update the same.

Furthermore, insurers have to offer a mechanism for policyholders to update their contact details electronically, both via the website and their mobile app.

Do note, proving this information is still remains voluntary for the policyholder.