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Press Release
Ref. No: -- Date: 14-01-2020
Granting approval to proposals from Health, Motor and Intermediaries department under the Regulatory Sandbox

PRESS RELEASE

 

Attention is drawn to Authority’s Press Release dated 16-09-2019 inviting applications for the Regulatory Sandbox from 15th September, 2019 till 14th October, 2019. The Authority received 173 proposals in the said period.

 

The Evaluation Committee constituted as per the Authority order dated 25th October, 2019 has evaluated proposals related to Health, Motor and Intermediaries and made their recommendations to the Authority.


Under the powers granted to Chairman, IRDAI under Reg 6 of the IRDAI (Regulatory Sandbox) Regulations, 2019, the Authority approves the following proposals under the Regulatory Sandbox. The period of approval is from 01st February, 2020 to 31st July, 2020. The details of the approved proposals are as follows:

 

S.No

Application ID

Applicant Name

Proposal Name

 

HEALTH

1

240

Max Bupa Health Insurance Co Ltd

Friend Assurance

 

2

238

Max Bupa Health Insurance Co Ltd

Health profile based pricing

 

3

239

Max Bupa Health Insurance Co Ltd

Wearable Fitness Tracker

 

4

114

Star Health Insurance Co Ltd

Comprehensive Wellness programme with Wearable Device

 

5

132

Star Health Insurance Co Ltd

Centrally administered Auto Adjudication system

 

6

224

Religare Health Insurance Co Ltd

OPD and Wellness with Integrated Flexible Rewards program

 

7

229

Religare Health Insurance Co Ltd

Short term Health Insurance

 

8

228

Religare Health Insurance Co Ltd

Payment through Reward points

 

9

226

Religare Health Insurance Co Ltd

Friend Assurance

 

10

60

Bharti Axa General Insurance Co Ltd

Short term Health Insurance

 

11

140

Kotak Mahindra General Insurance Co Ltd

Wearable Devices to existing customers

 

12

165

Kotak Mahindra General Insurance Co Ltd

Wearable devices to New Customers

 

13

124

Kotak Mahindra General Insurance Co Ltd

Friend Assurance

 

14

94

TATA AIG General Insurance Co Ltd

Restricted Network (OPD / IPD)

 

15

82

Go Digit General Insurance Ltd

Need based Health Insurance

 

16

222

SBI General Insurance Co Ltd

Shagun- Gift an Insurance

 

17

50

Bajaj Allianz General Insurance Co Ltd

Co-Pay model

 

18

145

ICICI Lombard General Insurance Co Ltd

APP Monitored Diabetes Mellitus Wellness Program

 

19

146

ICICI Lombard General Insurance Co Ltd

APP monitored Dyslipidemia Management Program

 

NON-LIFE

1

59

Bharti Axa General Insurance Co Ltd

Usage based Motor insurance – Pay as you Drive _ Private Car Policy_ Own Damage Section

 

2

77

TATA AIG General Insurance Co Ltd

 

3

79

Go digit General Insurance Co Ltd

 

4

173

ICICI Lombard General Insurance Co Ltd

 

5

175

ICICI Lombard General Insurance Co Ltd

 

6

17

Acko General Insurance Ltd

 

7

45

Bajaj Allianz General Insurance Co Ltd

 

8

96

Liberty General Insurance Ltd

 

9

138

Edelweiss General Insurance Co Ltd

Motor Floater

 

10

4

Reliance General Insurance Co Ltd

 

11

179

ICICI Lombard General Insurance Co Ltd

 

Distribution Development

1

35

Audatex Solutions P Ltd

Online Salvage Auction Platform

 

2

36

Audatex Solutions P Ltd

Online Automotive claims and collision estimation

 

3

37

Audatex Solutions P Ltd

 

 

Online Automotive claims and collision estimation by using Artificial Intelligence (AI)

 

 

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