With the intention to improve insurance penetration in the country, Reliance General Insurance has partnered with the Unique Identification Authority of India for checking the credentials of its customers through Aadhaar data.
“We have been closely working with the Government towards the broader mission of improving insurance penetration in the country,” RGI CEO Rakesh Jain said.
He added, “Use of this Aadhaar-based e-KYC (Know Your Customer) model will not only make paperless identity authentication possible but also facilitate claims payment directly to the bank accounts of customers on real-time basis.”.
The company plans to launch this service in Sikkim in the first phase and later by the end of the year, roll it out across the country. RGI claims to be the first general insurance company in the country to partner with UIDAI for Aadhaar-based insurance services.
The Government has, so far, issued over 55-crore Aadhaar cards with the objectives of fostering inclusive growth, making direct subsidy payments and for correct identification of the beneficiaries.