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Launching of self-deactivation facility over IIB' s ENVOY portal- (Insurance Regulatory and Development Authority) (06 Jun 2022)

MANU/IRDA/0036/2022

Insurance

1. ENVOY portal, maintained by Insurance Information Bureau (IIB) is the central database for various categories of insurance sales persons working for insurance industry in India.

2. ENVOY database was launched in the year 2017. All the Insurers and Insurance Intermediaries have been directed to upload data pertaining to their licensed salespersons vide Circular no IRDA/INT/CIR/CDB/197/08/2017 dated 24th August 2017 and IRDA/INT/CIR/CDB/082/05/2018 dated 22nd May 2018 and IRDAI/INT/CIR/CDB/168/06/2020 dated 30th June 2020.

3. Insurers and Intermediaries were also required to share information pertaining to all fresh enrolments and terminations over ENVOY hosted at IIB.

4. A new provision has been created in the ENVOY portal for self-deactivation of the salespersons. The salesperson seeking to disengage from the current principal would access the portal (https://www.envoy.iib.gov.in) and seek deactivation.

5. The portal after an OTP based verification on the registered mobile number would allow for self-deactivation in compliance with the relevant regulations, after a thirty-day waiting period or upon receiving insurer/intermediary consent whichever is earlier.

6. A user guide containing the step-by -step procedure for self-deactivation of salesperson is attached with this circular and also the same can be accessed over IIB's ENVOY portal.

7. The categories of salespersons covered by this circular include Point of Sale Persons (PoSPs), Broker Qualified Persons (BQP), Insurance Sales Persons (ISP) of Insurance Marketing Firm (IMF), Authorized Verifiers of Web Aggregators, and Salespersons & Designated Persons of Motor Insurance Service Providers (MISPs).

8. This facility shall be effective from 8th June, 2022.

Tags : LAUNCHING OF   SELF-DEACTIVATION FACILITY   ENVOY PORTAL  

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