Processing and Collections of New Proposals of PLI & RPLI due to issues in ‘Core Insurance Solution’ – reg.

Respected Madams and Sirs,
A
number of issues particularly related to New Business of PLI and RPLI are being
faced in ‘Core Insurance Solution’ since long. While Infosys has been
endeavouring to fix the problem, a solution has yet to be found. Resultantly, a
large number of new proposals are pending even for indexing and the collection
of initial premium.
2. Insurance policies have a number of
ramifications like rate of premium, term of policy and tax benefits which get
affected by change of month/year. While Department is trying to find a solution,
the immediate problem needs to be addressed. In view of the aforesaid issues it
has been decided that:
i. All proposals of PLI and RPLI
which are received by tomorrow (31.03.2016) should be indexed and collections
done in ‘CIS’ to the extent possible.
ii. If ‘CIS’ system does
not allow indexing of new proposals, initial premium received against those
proposals should be accepted in Meghdoot software on 31.03.2016 and receipt
thereof should be pasted on the proposal form.
iii. Further
instructions on bringing these policies into the CIS will follow.
4. Instructions for collection of renewal premium on existing policies in ‘CIS’
/ Point of Sale of Meghdoot as feasible have already been given and reiterated
during last two VCs.
5. This issues with approval of competent
authority.
Regards,
Vipin Malhotra
Dy. Divisional Manager
(PLI)
Directorate of Postal Life Insurance,
Chanakyapuri PO
Complex,
New Delhi - 110021
011-24674930
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