Govt allows 29 insurers to do Aadhaar authentication

He said the Centre in a gazette notification on Thursday allowed these life and non-life insurance companies to undertake Aadhaar authentication service of the Unique Identification Authority of India (UIDAI) under Section 11 of the Prevention of Money Laundering Act, 2002.

 It is learnt that the permission was given to insurers as a party of 'Know Your Customer' process.

 "Insurers collect the data from the policyholders at time of paying the claims. Now they can do so at the time of issuance of policies," the official told IANS, preferring anonymity.

 Incidentally, none of the four government-owned non-life insurers and Life Insurance Corporation of India figure in the list of insurers approved by the central government.