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07/12/2019 01:54pm

Postmen, grameen dak sevaks can be seen in new role of selling insurance policies

image Postmen, grameen dak sevaks can be seen in new role of selling insurance policies

New Delhi, Dec 7 (KNN) Apart from delivering letters from home to home, Postmen and grameen dak sevaks, soon can be seen in a role, where they will be selling insurance policies.

Insurance Regulatory and Development Authority of India Act (IRDAI) will be issuing guidelines wherein such people have to be sponsored by the India Post Payments Bank (IPPB).

Reportedly, IRADI said, the IPPB is a corporate agent, can seek permission from them for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS).

IRADI further said, that IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, if the authority grants permission.

''The DoP will have to identify postmen and grameen dak sevaks and furnish the list to it from time to time and IPPB may have tie-ups with as many number of insurers as allowed under the regulations,'' the regulator added.

Apart from, being responsible for training and certification of postmen and grameen dak sevaks, the IPPB will also be responsible for daily reconciliation and reporting of all transactions; compliance to code of conduct; compliance with KYC norms; setting up of a robust grievance redressal mechanism to address grievances raised by customers, as per the guidelines.

''IPPB will also need to identify the postman and grameen dak sevak who has sold an insurance policy,'' the regulator said.

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