MFs seek KYC easing, in line with insurance sector

The mutual fund (MF) sector has again indicated that compared to the insurance sector, it is being treated in a step-motherly manner. This time, it is a Budget proposal that has irked officials in the sector. The proposal said a customer could buy an insurance policy if he/she had a bank KYC (know-your-customer). It didn’t include MFs. Read more

Cell phones as catalyst for an insurance revolution

The Insurance Regulatory and Development Authority (IRDA) estimates that the total life policies in force as of end of March ‘11 is about 25.32 crores. It means that majority of our population has no insurance cover of any kind. A significant section of this population base in vulnerable and there is a need to take life insurance services to them. Read more