Soon your fitness band and SmartWatch will also have insurance

Gadgets that you wear soon will also be assessed. For this insurance consultant IRDAI has constituted a working group. Those who would suggest tips on the technical equipment for the body of the fitness band, such as the Virtual Reality iGear. Irda raised this step keeping in mind the interest of the policy holders.

Working Group Will Recommend Rule

This working group will make guidelines regarding the insurance of such devices which are part of the insurance policy framework. Nowadays, there is a growing trend among people towards health. In this way, people use virenable gadgets that monitor health, including products like fitness bands, smartwatch. Apart from this, the use of virtual realty iGear for mobile entertainment on mobile has also increased.

Future step

Working Group of 10 members has been formed under the chairmanship of Yagnapriya India, IRDA's Chief General Manager. According to Tapan Singhal, MD and CEO of Bajaj Allianz General Insurance Group and this step of IRDAI is very progressive. Nowadays gadgets have become an important part of our lives. Therefore, it is necessary to think about their insurance. The group will submit its report within two months in this case.