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  • Display of product comparisons on the insurance aggregator website

    • IA-2.3.2

      The insurance aggregator must adhere to the following conditions relating to display of product comparison on its website:

      a) Disclose prominently on the home page, a notice that
      i. the prospective client's/visitor's particulars could be shared with insurance firms;
      ii. the information displayed on the insurance aggregator's website is of the insurance firms with whom the insurance aggregator has an agreement;
      b) Product information displayed by the insurance aggregator must be authentic and be based solely on information received from insurance firms;
      c) Insurance aggregators must not display customer ratings, rankings, endorsements or bestsellers of insurance products on its website;
      d) The content of the website of the insurance aggregator must be unbiased and factual in nature;
      e) Basic features of products may be compared, such as:
      i. Eligibility criteria
      ii. Policy term
      iii. Premium
      iv. Inbuilt benefits/riders
      v. Premiums for different age groups
      vi. Benefits such as survival benefits/maturity benefits/death benefits etc.
      vii. Any other additional information/special product features relating to the products
      f) Product comparisons that are displayed must be up-to-date and reflect the true picture of the products.
      g) The product comparison must highlight whether a particular policy is a sharia compliant Takaful policy or a conventional insurance policy.
      October 2019

    • IA-2.3.3

      Insurance aggregators must not operate multiple websites or tie up with other un-registered websites for comparison of products.

      October 2019