To boost insurance coverage in the rural areas, the IRDAI is working on a women-led localized distribution force called Bima Vahak.
The aim is to engage women in raising awareness about the importance of insurance, and educating the rural population about a range of products tailored to their requirements.
The final guidelines for this initiative are likely to be released this month, the person added. IRDAI had issued draft guidelines on Bima Vahak in May.
“The consultative process is over and guidelines to operationalise will be notified soon," the person said. IRDAI did not respond to Mint’s queries till press time.
“… various modalities are under consideration, including an e-marketplace protocol, localized, women-centric distribution force, simple benefit-based products which may greatly enhance ease of doing business and significantly contribute to insurance inclusivity," IRDAI chairperson Debasish Panda said.