Page 5 - LIFE INSURANCE TODAY Novemver 2017
P. 5
Cover Story
SUSTAINABILITY
& FEASIBILITY OF
COMMON
SERVICE CENTERS
IN INDIA
L ife and non-life insurers are now marketing some valid for three years. It should also enter into a separate
categories of their retail products through
agreement with the insurers in a prescribed format. In
common service centres network of CSC e-
IRDA has allowed insurance companies to use licensed
Governance Services India Ltd. The Insurance order to increase insurance penetration in the country,
Regulatory and Development Authority (IRDA) has issued Common Service Centres (CSCs) as a distribution network
guidelines in this regard. CSC was created by the in rural areas.
Department of Electronics and Information Technology on
a public private partnership model as part of national e- The facility has enabled both life and non-life insurers to
governance plan. market some categories of retail insurance policies through
special purpose vehicle (SPV) network in the rural areas
For marketing insurance products, CSC has to obtain a with the help of Rural Authorized Person (RAP) who will
prior license from the insurance regulator which would be act as insurance agents. Marking the opening of a new
sales channel aimed at increasing insurance penetration in
About the author rural areas, many insurance companies have launched sale
Mr Jagendra Kumar is currently the and services through the common service centres (CSC)
Corporate Head (Training) at Shriram across India.
General Insurance Company. Mr Kumar is a
prolific writer and has wide experience in The CSC platform is currently being used by citizens to
the general insurance industry. Before access and pay for the services offered by multiple
Jagendra joining SGI he was the Ex. CEO in Pearl
Kumar government agencies and private sector players. An army
Insurance brokers.
of digitally trained individuals are leading a silent
Some people like my advice so much that they frame it upon the wall instead of using it.
Life Insurance Today November 2017 5
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