Raju Raman Poudel, Executive Director of IB informed merolagani.com that once the companies integrate their system software with API Model implemented by IB, the board can live monitor the activities of all insurance companies.
The board can also get instant data of the number of insurance policies, premium earning, claim payment, loan against policies, agent commission, investment, policy surrender of the companies.
He said that the live data streaming will help the board to monitor the companies.
Previously, the board directed all insurance companies to integrate their system in API within one week on July 5.
