#1
7th December 2016, 12:50 PM
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IRDA Circular on Outsourcing
My father is searching Circular on Outsourcing of Activities by Insurance Companies published by IRDA. So do you have any link from where he will download circular of IRDA on Outsourcing of Activities by Insurance Companies?
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#2
7th December 2016, 02:02 PM
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Re: IRDA Circular on Outsourcing
As you want to get Circular on Outsourcing of Activities by Insurance Companies publihsed by IRDA, so here I am providing following Circular: IRDA Circular on Outsourcing of Activities by Insurance Companies Reference: 1. INV/CIR/031/2004-05 dated 27th July, 2004 2. INV/CIR/058/2004-05 dated 28th December, 2004 3. RBI/2006/167 DBOD.NO.BO.40/21.04.158/2006-07 4. Regulation 7(c) of IRDA (Registration of Companies) Regulations, 2000 Core Activities i.Underwriting, ii. Product design and all Actuarial functions and Enterprise wide Risk Management iii. Investment and related functions iv. Fund Accounting including NAV calculations v. Admitting or Repudiation of all Claims vi. Bank Reconciliation vii. Policyholder Grievances Redressal viii. Approving Advertisements ix. Market Conduct issues x. Appointment of Surveyors and Loss Assessors xi. Compliance with AML, KYC etc. xii. All integral components of the above activities shall be treated as Core Activities Non core activities: i. Facility management i.e. Housekeeping, Security, Catering, etc. ii. PF Trust iii. Internal audit, Internal / branch /concurrent audit etc v. Website Development and Management / Software and other IT Support v. Pay Roll Management vi. HR Services vii. Service Tax Consultancy and Support viii. TDS filing ix. Compliance with labour laws x. Data entry Including Scanning, Indexing Services xi. Printing and posting of reminders and other documents xii. Pre employment medical checkups xiii. Reminders for Premium Payment xiv. Call Centre and outbound calling for registering complaints or answering enquiries xv. Claim Processing for Overseas Medical Insurance Contracts xvi. Tele-marketing xvii. Consultancy Services pertaining to Service Tax, Income Tax and any other taxes payable by insurer xviii. Other Employee Benefits xix. Deployment of personnel within the premises / offices of the Insurer on a contract basis IRDA Circular on Outsourcing of Activities by Insurance Companies |
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