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Insurance Regulatory and Development Authority of India (IRDAI) to deploy Bima Vahaks in every Gram Panchayat before 31 December 2024. As per the guidelines, every insurer shall endeavour to engage individual Bima Vahaks and/or corporate Bima Vahaks with the focus to progressively achieve coverage of every Gram Panchayat. Bima Vahaks shall be deployed in each Gram Panchayat before 31 December 2024. As per the new guidelines, there is no restriction on the number of insurers a Bima Vahak is allowed to work with. IRDAI has removed the following clause, which appeared in the previous release: work with only one life insurer, one general insurer and one health insurer and additionally where permitted by the Authority, with the Agriculture Insurance Company of India Ltd. Meanwhile, the objective of Bima Vahak continues to be a women-centric, dedicated distribution channel that will ensure accessibility and availability of insurance in every nook and corner of the country.The Bima Vahaks, both corporate and individual, will be authorised to undertake activities like the collection of proposal information and know-your-customer (KYC) documents and coordinate claims-related services.
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