In the digitalization era that we are living in, e-commerce is gaining the massive number of customers and sellers. With this rapid growth in e-commerce, insurance companies have also starting exploring the online platforms to sell their products. To ensure the privacy and safely of this online insurance businesses, ISNP compliance took birth. This mission is driven by IRDAI for insurance businesses. ISNP stands for Insurance Self Networking Platform which refers to an electronic platform set up with a view to conducting insurance e-commerce activity. Such platforms can only operate after getting permission from IRDA.
The main objective of ISNP is to set standardized rules and procedures for all who are conducting insurance via e-commerce. According to these regulations, anyone willing to sell insurance online is required to set-up a digital platform known as Insurance Self-Network Platform (ISNP) and follows all the regulations specified for it.
Any Insurance Agency that is looking to setup an Electronic Platform, they must comply with the following requirements as defined by the IRDA:
Our professionals provide industry-leading expertise to help organizations meet their evolving Data Security and Privacy needs. We ensure to help you understand, manage and comply with IRDA's Cyber Security requirements as published in the IRDA's Guidelines on insurance e-Commerce.
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