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Gone are the days when a rider or driver had to worry about not carrying a physical copy of motor insurance. With the introduction of the digital format of motor insurance, a driver /rider can now carry the policy on their smartphone.
Every person owning a vehicle must obtain third party insurance. This insurance is mandatory because in case of damage to life or property caused by the vehicle, monetary obligations are taken care of. This policy must be available at all times with the driver or rider or else he has to pay a heavy fine. Now the Insurance Regulatory and Development Authority of India has approved the digital format of motor insurance (e-vahan Bima). Currently, Telangana state has adopted the digital format and has instructed it’s traffic department to recognize digital format as valid proof.
There is no special procedure for obtaining digital motor insurance. The policyholder has to only provide the email ID and opt for digital insurance. The QR code will be given in the policy document.
IRDA is encouraging all states to adopt this new change. A country wide initiative is taking place so as to bring convenience to vehicles moving between states. A mobile App will also be launched to facilitate viewing the policy and also take printouts of the policy and hold it handy in case of mobile discharges. Measures are being taken to ensure the safety of the data maintained with Insurance Repository/ Insurers/IIB Steps are also taken to ensure there is no manipulation of records.
The QR code will be there on the digital policy. How can this code be used? The ‘QR code scanner’ should be downloaded from the play store. The image of the QR code must be scanned, all the details of the policy, date of payment, the renewal date will be seen. Truly India is moving towards Digitalization. E-vahan bima is a step towards this initiative ensuring convenience to everyone.