In today's digital world, both buyers and sellers are becoming more interested in e-commerce. Even in the insurance sector, registered participants are investigating online marketplaces for their goods. As a result, on March 9, 2017, the Insurance Regulatory and Development Authority of India (IRDA) released guidelines for insurance via e-commerce.
On March 9th, 2017, the Insurance Regulatory and Development Authority of India (IRDA) released Insurance Self-Network Platform (ISNP) guidelines for insurance e-commerce, IRDA/ INT/ GDU ECM/ 055/03/2017. The primary objective of these guidelines is to provide uniform principles for carrying out insurance e-commerce operations.
According to these guidelines, anybody wanting to sell insurance online must build up an internet platform called the Insurance Self-Network Platform (ISNP) and one should abide by all these guidelines laid down for the aforementioned purpose. These services can only be used after receiving IRDA approval.
With regard to ISNP Audits, Precise Testing Solution offers the ISNP audit solution that particularly addresses the IRDA. Our procedure combines with the IRDA scoping guidelines to guarantee compliance with the audit rules or guidelines for the IRDA.
Following is the process to perform IRDA-INSP compliance audit:
It is the process of planning and preparing the audit scope and goals.
Assessment, measurement, management, and control of IT-related risks improve process dependability and the overall security of the information system.
Controls over crucial system platforms, networks, and physical elements as well as IT infrastructure supporting pertinent business operations are evaluated.
Describe the audit’s findings, conclusions, and recommendations in terms of conformance, non-conformance, and areas for improvement.
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