The License to CSC e-Governance Services India Limited has been granted on 12th Sept 2013 by Insurance Regulatory and Development Authority (IRDA) to work as an Authorized Intermediary to market specifically approved insurance products through the Rural Authorised Persons (Village Level Entrepreneur’s) under the CSC Scheme of National e-Governance Plan under the IRDA Guidelines on Common Service Centres, 2013.
The License permits both Life and Non Life Insurers in India to Market Retail Insurance Policies and Services through Common Service Centers Network. VLE’s in order to solicit insurance sales and service as Rural Authorised person (RAP) of Insurance will have to comply with all the applicable provisions of the Insurance Act , 1938,the IRDA Act,1999, and the rules, regulations, circulars or guidelines, as applicable, issued from time to time.
A VLE is licensed to solicit or negotiate an Insurance policy of ‘ALL THE INSURANCE COMPANIES’ with which CSC SPV has an agreement. This facility to market insurance products and offer services near to homes would significantly expand insurance penetration in rural areas. Insurance penetration in India was just 3.96 per cent in 2012.