Life insurance, authorities introduce barcodes

The Chinese Insurance Regulatory Commission (CIRC) requires that life insurers put barcodes on all information describing their product brochures, an initiative that will allow customers to check out the accuracy of the information made available to them. All policies need to be computerized by insurers before August 1, the deadline for the establishment of the database on the web.
Barcodes can then be scanned by smartphones, unveiling details on life policies. All insurance products placed on the market as of 2009 will fall under this requirement.