Insurance Regulatory and Development Authority of India (IRDAI) has approved the 2nd tranche of approvals under the regulatory sandbox.
The regulator had invited applications in September 2019 and an evaluation committee constituted by the regulator has shortlisted the applications and sent its recommendation to the regulator.
The approvals for life and non-life insurer is from 1st May 2020 to 31st October 2020.
| Sr. No | Insurer | Proposal Name |
| 1 | Bajaj Allianz General Insurance Co Ltd | V-Pay Motor Insurance Product |
| 2 | TATA AIG General Insurance Co Ltd | Standalone Own Damage Agreed Value Two Wheeler Policy |
| 3 | Go Digit General Insurance Ltd | Network based Accidental Insurance for Rented Motor Vehicle |
| 4 | Reliance General Insurance Co Ltd | Livelihood Protection |
| 5 | TATA AIG General Insurance Co Ltd | Parametric Insurance |
| 6 | TATA AIG General Insurance Co Ltd | Credit Insurance for TReDS Platform |
| 7 | Bajaj Allianz General Insurance Co Ltd | Total Business Protection |
| 8 | ICICI Lombard General Insurance Co Ltd | Trade Credit Insurance for SMEs |
| 9 | TATA AIG General Insurance Co Ltd | Loss Limit Insurance |
| 10 | ICICI PruLife Insurance Co Ltd | Loyalty program |
| 11 | India First Life Insurance Co Ltd | Loyalty program |
| 12 | HDFC Life Insurance Co Ltd | Health India Account |
| 13 | ICICI PruLife Insurance Co Ltd | Health Savings |
| 14 | ICICI PruLife Insurance Co Ltd | Outpatient Health cover |
| 15 | ICICI PruLife Insurance Co Ltd | Disease management |
| 16 | ICICI PruLife Insurance Co Ltd | Dynamic term cover |
(SOURCE: Economic Times- April 1, 2020)
