This is an update to let you know that the Insurance Regulatory and Development Authority of India (“IRDAI”) has through a Circular dated 30th June 2020, advised all the Insurers and Insurance Intermediaries to mandatorily share PAN while uploading insurance salesperson applicant data in the Central Database of Licensed Insurance Salespersons in India (ENVOY) at Insurance Information Bureau of India (“IIB’).
Background:
Earlier, IRDAI had directed all the Insurers and Insurance Intermediaries to upload data pertaining to their salespersons to IIB based on their Aadhar Numbers. Now, considering the constraints in the sharing & storage of Aadhar number due to the recent changes in the rules, it has been decided that the identifier shall be shifted from Aadhar number to PAN.
Source: Insurance Regulatory and Development Authority of India
