Continue with
Registration Number
Continue without
Registration Number
I Have
Brand new Bike
Recently due to the high rise in the number of fraud claims and corruption in the insurance process, IRDAI has implemented strict KYC norms for every vehicle by which the owner of the vehicle must submit his identity proof and his address proof in the form of hard copy and must comply with face-to-face identity verification and then they can apply for the insurance. This is also known as e-KYC or CKYC of the customer to verify his identity for further insurance process. Here we are going to look at what are KYC norms and how they impact two-wheeler vehicles.
KYC stands for “Know Your Customers'' and is mainly used in the verification of the individual by the insurance provider to maintain proper records and avoid future issues. As per the IRDAI, it has been made mandatory for insurance companies to verify their customer’s identity through KYC since 1 January 2023 as an effort to lower fraud and corruption in insurance processes. It also helps insurance providers maintain records of the customer’s name, address, and contact number in case they need to reach them. Insurance provider need to follow the KYC norms to the letter before they can provide any insurance to the customer. KYC (Know Your Customer) verification ensures the authenticity of the bike owner's identity, while bike registration certification confirms the legal ownership and registration details of the vehicle.
Insurance providers must get proper verification done of the customer before they can provide them with a two-wheeler insurance policy. This has been made mandatory and needs to be followed every time one is getting their insurance or getting it renewed by following the proper KYC norms. Following are the KYC norms one must need to comply with when getting their insurance:
Read More | List of Documents Required for New Two Wheeler Purchase
KYC verification not only helps the insurance provider but also the individual in the long run when he is trying to get an insurance claim. One must always comply with the KYC norms to reduce fraud. The following are the benefits of complying with KYC norms:
Getting your KYC done properly is very important in keeping your two-wheeler properly insured from any future issues. Insurance providers must comply with the KYC norm for them to provide any insurance to the customer needing one as it ensures proper verification of the customer’s records and helps reduce chances of fraud in the future. One can easily verify their records through KYC physically or by video call or by Aadhaar card-based OTP verification. KYC for bike insurance is mandatory as it is mandated by the IRDAI on 1 January 2023; one must always do his best to comply to avoid any future issues regarding buying or renewing insurance.
Now one can easily verify their identity and buy the insurance they need from Quickinsure in just a few easy steps by going to Quickinsure website and browse various insurance and select the one that meets their requirement.
Yes according to IRDAI it has been mandated to comply with KYC norms for one to get their two-wheeler insured.
One can verify their identity through KYC physically, by video call, or by Aadhaar-based OTP-based verification.
Visit the official website of two-wheeler insurance and check various affordable insurance plans and select the one that meets your requirements.
One can easily get their verification record done in 2-3 minutes with e-KYC at the insurance provider by providing their consent to it.