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The Insurance Development and Regulatory Authority (IDRA) on Wednesday asked all life and non-life insurance companies to ensure their agents use the unique agent code, aiming to digitalise insurance services.
It sent a letter signed by its Director Md Shah Alam to the chief executive officers of all insurance companies across the country.
The regulator also directed the companies to ask their agents to show the ID card, issued under the agent licence online module, if any policyholder wants to know their identity.
The letter said the agent licence online module was implemented as per the Insurance Agent Recruitment and Registration Regulations 2021 to digitalise the insurance companies’ activities related to data storage and control, registration, and licence renewal of agents.
The module came into effect on March 1 this year. Under it, the agents of all insurance companies in the country were asked to use the unique agent code and show the ID card if policyholders want to know their identity.
An IDRA official told The Business Post the authorities can use the digital unique agent code to easily collect information from the agents online any time.
The performance of the agents can be monitored properly as well, he added.
