Soon petrol pumps, gas agencies may sell insurance

TIL Desk/Business/New Delhi/ The insurance regulator is in talks with the petroleum ministry to see if fuel pumps and cooking gas agencies can be used for selling simple insurance products.

This will help expand the distribution channels, said Subhash Chandra Khuntia, chairman of the insurance regulatory and development authority of India (Irdai).

“The motive is to provide access to motor insurance in rural and remote areas as all vehicles have fuel pumps as touch points. However, simple products including micro-insurance products can also be sold there. This will augment the distribution channels like bank branches, common service centres and motor insurance service provider in rural, remote areas, and small towns,” said a source aware of the development.