Insurance Self-Network Platform means an electronic platform set-up by any applicant with the permission of the Authority.

ISNP can be set up by any insurer or insurance intermediary like Brokers, Corporate agents and web aggregators.

There is no exam. You need to have a Web/ Mobile platform to sell and service insurance policies across life and non-life insurance companies.

No. You need to use the existing platform of the respective insurance company.

Step 1: You can register on the portal(isnp.irda.gov.in) with your existing license, Once registered will receive a mail confirmation with the URL, login credentials and pre-requisites for joining the platform

Step 2: You can login to the portal and submit the form online. Upon successful submission of the form, you will receive a printable PDF on your registered email.
You can submit the proposal along with a non-refundable fee of ₹ 10,000/-

Step 3: You will be given 60 days to setup the platform and get certified by the registered certification bodies.
 

Yes, you need to pay a non-refundable fees of rupees ten thousand plus applicable taxes.

Your application is pre-approved as per your declaration of your readiness. You will be given 60 days of time to get certified on the platform.
 

License is normally valid as long as the certificate of registration is valid in case of insurance intermediaries. In case of insurers, the permission will be valid unless it is revoked.
 

ISNP can offer the following services to policy holders

• issuance and crediting of the Policy Document / Certificates of insurance/
• Proposal Form/ Medical reports, etc. Organizing medical check-up and submission of medical reports
• issuance of endorsement
• Change of Policy Terms and Conditions / Details Change
• Collection of renewal premiums and remittance to insurers
• Change of Name/ address
• Registration of Assignment
• Nomination/ Change of Nomination
• Surrender, Maturity, Withdrawals, Free look Cancellations, Return Benefit
• Pay-outs
• Loan Against Policy
• Fund Switching/ Premium Redirection
• Declarations Update
• Extension of Cover
• Revival / Cancellation of Policy
  • Transfer of Policy
  • Duplicate Policy
  • Death / Maturity Claims
• Other Service operations as may be specific for the products

No, all existing products can be sold on the platform. Insurers need not re-file the products if there is no change in the fundamental characteristics of the product.
 

Yes. Insurer may decide to offer discount as defined by the authority and as per F&U guidelines

A product sold through the applicant's ISNP shall be governed by IRDAI (Payment of commission, remuneration or reward to insurance agents and insurance intermediaries) Regulations, 2016.b No fees, charges or payments by whatever name called other than that allowed

No, there is no separate fee envisaged under these guidelines.

eIA stands for e-Insurance Account or “Electronic Insurance Account“ which will safeguard the insurance policy documents of policyholders in electronic format. This e-Insurance account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. IRDA has granted the Certificate of Registration to the following four entities to act as “Insurance repositories“ that are authorized to open e-Insurance Accounts.

• M/s NSDL Database Management Limited
• M/s Central Insurance Repository Limited
• M/s Karvy Insurance Repository Limited
• M/s CAMS Repository Services Limited

Each e-Insurance Account will have a unique Account number and each account holder will be granted a unique Login ID and Password to access the electronic policies online.

Yes. You need to facilitate opening of eIA of the customer within 15 days of issuing the policy at the willingness of the customer.

You can integrate services of e-KYC facility offered by UIDAI and e-PAN facility offered by NSDL