Page 30 - Life Insurance Today May 2016
P. 30
notified on 14-03-2016. Vide various provisions of the March, 2016 requesting uploading the status of KYC
said regulations the Authority has to specify the Regu- related details for Insurance Policies up to 31st Decem-
latory Norms, Forms, Formats, and Check list etc., for ber, 2015 on the iTrex server at IIB by 31st March,
compliance by all TPAs and other regulated entity, if 2016.
applicable. The objective of this circular is to set out
regulatory requirements that a concerned applicant or 2. From the submission made, it is observed that as many
registered entity, as the case may be, shall comply as 10 companies have uploaded status of KYC related
with. details of insurance policies to the extent of 100% of
their records. Much of the progress has happened in
2. This circular is applicable to all applicant TPAs, regis- the past few days.
tered TPAs and the insurers wherever applicable.
3. It may be appreciated that the iTrex will not only fa-
3. This circular is issued under the provisions of Section cilitate aggregating data across Insurers but also help
34 (1) of Insurance Act, 1938 and under the powers in identifying duplicates within the Insurers as is evi-
vested with Reg. 2 (1) (l) of IRDAI (TPA - Health Ser- dent in the ongoing exercise. It is imperative to com-
vices) Regulations, 2016. The periodicity of the reports plete this exercise and make it up-to-date at the earli-
shall be as mentioned under respective annexure in est. Data relating to KYC related details of insurance
this circular. policies upto 31st March, 2016 also needs to be cap-
tured at an early date. For policies issued subsequent
4. The Insurers, TPAs and Network Providers, as the case to 31st March, 2016, it is proposed to make the up-
may be shall use the forms specified at Annexure - 30, load possible by Web Service.
while rendering health services;
a. Claims Form Part - A: Claim Form Is Applicable For 4. To facilitate the above, uploading the status of KYC
Health Insurance Policies Other Than Travel And related details for insurance policies issued upto 31st
Personal Accident Policies. March, 2016 on to the iTrex server is extended upto
20th April, 2016. It may kindly be noted that further
b. Claim Form Part - B: Claim Form to Be Filled In by extension of time is not in the interest of Insurance
the Hospital industry and would delay the rollout of benefits of the
initiative further. It is also therefore planned to take a
c. Pre-Authorization Form Part - C: Request for Cash- review on a daily basis with the Industry.
less Hospitalization for Health Insurance Policy.
5. It may also be noted that where KYC is done by mul-
5. The provisions of this circular shall be applicable with tiple insurers/ sources, the benefit of KYC-originator
immediate effect or as specified in the respective pro- can be provided to only those who upload the requi-
visions of this circular. site information by 20th April, 2016. As such Insurers
should upload the details sought by that date and
Yegna Priya Bharath move to the Web service platform which is proposed
to be rolled out shortly.
Joint Director (Health)
6. Should there be any need for assistance/clarification,
Extension for uploading of status of KYC you may contact Shri Sanjay Kumar Verma, Deputy Di-
related details for Insurance Policies on rector, IRDAI (sanjay [at] irda [dot] gov [dot] in -
Insurance Transactions Exchange (iTrex). 8096396395) or Shri Srikanth Pokkuluri, Head-IT,IIB
(srikanth.pokkuluri [at] iib [dot] gov [dot] in
Ref: IRDA/INT/CIR/INSRE/066/04/2016 8008947272).
Date: 06-04-2016
(Sriram Taranikanti)
1. This refers to the Authority's circular ref: IRDA/ INT/
CIR/ INSRE/ 032/ 02/ 2016 dated 20th February, 2016 Executive Director
and a letter (Ref: IRDA/ INT/ 2015/ 6) dated 29th
You're only as good as your dumbest competitor.
30 May 2016 Life Insurance Today
