Very soon, bikes and cars owners will be able to access all the necessary insurance information just with the help of a simple SMS. All the necessary information can be received instantly. This can be very helpful especially in the times when the traffic policeman stops and asks for the papers. This initiative is being taken up by the IRDA. Until now, the insurance document verification was done by ensuring that the hard copy was available at the time of request, however now, the information of all the vehicles which are insured, will be available digitally and will be updated regularly.
This will also be beneficial for those who want to make any kind of claims due to theft or damage on the vehicles.
Insurance Policy Database The system will contain all the information such as the number of insurance claims honored/made, cases of negligent or bad driving etc. Based on this information, the insurance premium will also be applicable.