Telangana E Vahan Bima Scheme, E Vahan Bima Telangana, E Motor Insurance Policy in Telangana, launched by IT Minister K T Rama Rao.
The Government of Telangana in collaboration with the Insurance Regulatory and Development Authority of India (IRDAI), Insurance Information Bureau of India(IIB), with active support from the Insurance Industry launched acceptance of e-Motor Insurance policies in Telangana w.e.f. 2-1-2016.
Telangana E Vahan Bima Scheme
The Telangana E Vahan Bima Scheme launch was formally made by Shri K T Rama Rao, Hon’ble Minister for IT & Panchayat Raj. Telangana is the first State to formally recognize electronic motor insurance policies. This initiative is possible due to the active coordinated participation of departments of Transport, Police, IRDA and IIBI.
“Telangana is the first state in the country to formally recognize electronic motor insurance policies. This measure is likely to add to the citizens’ convenience and also improve the compliance levels of motor insurance,” the statement said.
TS E Vahan Bima Scheme Details
“It is expected that electronic motor insurance policies would help in the issuance of policies at the doorstep of the vehicle owners.
“These policies can be issued online across the country, thus paving the way for a host of benefits like faster issuance, removal of fraud, higher customer satisfaction, elimination of revenue leakages, analytics and so on,” it said.
The e motor insurance policy in Telangana would be issued in a digital format, which can be seen in any smartphone. A Quick Response Code would also be issued, that can be scanned for verification of policy details, it added.
E Vahan Bima / E insurance policy is a digitally signed insurance contract issued in an electronic form by an Insurer either directly to the policyholder or through the platform of registered Insurance repository. This E Vahan Bima was implemented with effective from 2 nd January, 2016 in the State of Telangana.
Benefits of E Vahan Bima Telangana
- To avoid problems with existing physical copy of the motor insurance policy to the citizen and the enforcement agencies this E Vahan Bima / E insurance policy inplemented.
- The E Vahan Bima Telangana policy issued in digital form with Quick Response code to scan for verification of policy details. An SMS based verification was also installed.
- Electronic motor insurance policies help in issuance of insurance policies at the door steps of the vehicle owners thereby promoting compliance levels.
- These policies can be issued on-line across the country, thus, paving way for a host of benefits like faster issuance, reduction in fraud, higher customer satisfaction, elimination of revenue leakages, analytics and so on.
- It can be stored and accessed on smart phones to make the process of verification easier for commuters as well as police.
- Police/Transport personnel can seek the vehicle details from the Insurers’ database or a central database maintained by Insurance Information Bureau of India (IIB) to check whether the vehicles plying on the roads are having insurance or not.
- There is no extra cost involved for electronic motor insurance policy.
For more details on E Motor Insurance Policy in Telangana click here
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