Furthermore, accessing any personal information mentioned in the Unique Identity Authority of India (UIDAI) for e-Know Your Customer (e-KYC) purposes has been also marked as mandatory, the IRDAI continues. The authority said that the information downloaded from UIDAI could be considered as sufficient information for the purpose of KYC verification. Nevertheless, insurers should keep the records of KYC information collected from the customers safely.
Insurers can use the e-authentication facility being provided by UIDAI either through the fingerprint or iris scanning or through one-time password (OTP) received on client’s mobile number or an e-mail address registered with UIDAI.
Through its earlier circulars issued in 2013 and 2015, IRDAI had allowed Aadhaar based e-KYC service offered by UIDAI for the KYC verification.
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