IRDAI forms panel on seamless transfer of automobile data

NEW DELHI: Insurance regulator IRDAI today said it has constituted a four-member committee to work on developing a revenue-sharing model in relation to motor vehicle database that could be seamlessly transferred to insurance companies.

ICICI CEO Bhargav Das Gupta will be the Chairman of the committee, IRDAI said.

Other members are Insurance Information Bureau of India (IIBI) Head-Motor Abhishek Dutta, United India Insurance GM A Hoda and Shriram General Insurance Additional Director Anil Agarwal.

Sharing of data in a seamless manner could bring efficiencies in the insurance sales and services, the regulator said.

The committee shall submit its report within four weeks of its constitution.