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Our Bureau

Hyderabad , March 18

THE Insurance Regulatory and Development Authority (IRDA) has sought the comments of industry participants to finalise the guidelines for online agents' training institutes. The draft guidelines are available on IRDA's Web site.

IRDA said the latest guidelines proposed for online agents' training institutes were in addition to its standard instructions and guidelines applicable for approval/renewal of agents' training institutes. The guidelines would be applicable to all the online training institutes including in-house training institutes of the insurers.

IRDA has asked all insurers and existing online training institutes to send their comments and suggestions to the IRDA Member, Life, Mr T.K. Banerjee, or e-mail at tkb@irdaonline.org by March 19.

As per the draft guidelines, the applicant should undergo at least 120 hours practical training in life or general insurance business . The composite training should be for at least 180 hours, where the applicant is seeking licence for the first time to act as an insurance agent.

The duration should be minimum of 24 days for 120 hours training and 36 days for 180 hours training with a maximum five hours per day. Stating that no product training/market survey should be included into this 120/180 hours training, the regulator said revision examination could form part of the training.

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