Bharti AXA General gets Irdai nod for two products under regulatory sandbox framework

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The insurance sandbox project has been launched mainly to help the regulator gauge and measure real-life acceptance of new customer propositions before giving them the regulatory nod for commercial launch. It also has immense potential to facilitate innovation and securely experiment with ideas to solve unmet customer expectations and raise efficiency levels.

NEW DELHI: Private non-life insurer Bharti AXA General Insurance on Tuesday said it has received nod from the Insurance Regulatory and Development Authority of India (Irdai) for its two products under the regulatory sandbox framework. 
The two proposed products, usage-based motor insurance in the non-life insurance category and short-term health insurance in the health segment has been shortlisted by the regulator for its sandbox the framework, the company said in a statement.
Irdai has selected only 33 out of 173 applications under health, non-life and distribution segments for the regulatory sandbox, which allows insurers and technology companies to collaboratively experiment with new products along with unique customer proposition on a live audience under the supervision of the regulator, it said.

Read more at:
https://economictimes.indiatimes.com/wealth/insure/bharti-axa-general-gets-irdai-nod-for-two-products-under-regulatory-sandbox-framework/articleshow/73484516.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst






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