New Delhi: Postmen and Gramin Dak Sevaks may soon be seen selling insurance policies. As per the guidelines issued by the Insurance Regulatory Authority of India (IRDA), the responsibility of such employees will be taken by the postal payment bank. IRDA said that to sell insurance policies, posters, and Gramin Dak Sevaks would be required to be sponsored by the Postal Payments Bank of India.
The postal payment bank is a corporate agent and may seek permission from IRDA in respect of sponsoring postmen and Gramin Dak Sevaks to act as a point of the salesperson. IRDA has said that if the postal payment bank gets the approval, then it will be responsible for the error of its person made the point of the salesperson.
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The regulator has further stated that the postal department will have to identify postmen and Gramin Dak Sevaks and issue their lists from time to time. Postal payments can contract with any number of insurance companies approved under bank regulation. The regulator said, "These postmen and Gramin Dak Sevaks will mainly work in areas where there are no banking services or there is not enough quantity." They can provide the facility of selling insurance products in remote and rural areas.
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