A tool for comparing the products filed with IRDA is required to compare the features of different products across insurers. Following are the features of this application:
- Based on the Lines Of Business (LOB) and Sub-LOB selected, the user is provided with a listing of insurance companies having approved products in the market.
- For product comparison a user can select a maximum of 4 approved products. Product comparison of selected products across various companies can be made based on various parameters like the coverages, exclusions, discounts, deductibles etc.
- The comparison provided is indicative of a specific coverage being applicable or not. There would be no comparisons by text i.e. differences in wordings would not be highlighted.
- The comparison will be provided as textual data