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Govt Allows 29 Insurance Companies to do Aadhaar Authentication

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The central government has notified 29 insurers – life and non-life – to undertake Aadhaar authentication services, said a senior industry official.

He said the Centre in a gazette notification allowed these life and non-life insurance companies to undertake Aadhaar authentication service of the Unique Identification Authority of India (UIDAI) under Section 11 of the Prevention of Money Laundering Act, 2002.

It is learnt that the permission was given to insurers as a party of ‘Know Your Customer’ process.

“Insurers collect the data from the policyholders at time of paying the claims. Now they can do so at the time of issuance of policies,” the official said while talking to media, on grounds of maintaining anonymity.

Incidentally, none of the four government-owned non-life insurers and Life Insurance Corporation of India figure in the list of insurers approved by the central government.

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