Insurance Fraud Will Be Banned Through Unique ID: IRDAI

New Delhi: Every customer will now be given a unique header identification or identity to save money from insurance sector customers from fraud. The Insurance Regulatory and Development Authority of India (IRDAI) has issued instructions in this regard to all companies working in the insurance sector.

According to information received from IRDAI sources, in order to prevent fraud and forgery in the insurance sector, the authority has made preparations to rein in fake messages and fake phone calls. For this, an insurance with a unique header will be issued for each insurance company, through which spam (fake) messages or fake calls can be easily identified. As an extension of the unique ID of the insurance company, the customer will also get a unique ID policy. Insurance companies will be able to contact the customer only when these two IDs are used together.

Companies working in the insurance sector will use this unique ID to contact customers. Companies will also have to inform their customers about their IDs carefully, so that the customer can feel satisfied. It is being told that the Insurance Regulatory and Development Authority of India (IRDAI) is taking these initiatives to protect customers from fraud. Under this, insurance companies will have to get unique ID from the telecom operator. Instructions have been directed to complete registration of the required templates for this ID by 5 April. Companies will have trouble sending messages or calls to their customers if they do not register.

According to people associated with the insurance sector, in recent times, those who have been involved in online fraud business have started defrauding people in the name of insurance policy too. These fraudsters are making people a victim of fraud by pretending to get bonuses on the insurance policy. It is being told that after being told that there is a bonus offer of lakhs on the policy of the customers, they are collecting money in the form of tax from them for taking the bonus. However, once the unique ID is created, it will not be easy for any fraudster to get customers trapped in his trap.

Source: Tezzbuzz